The monetary system is failing the majority of people, while empowering a select few. The monetary system consists of: banks, loans, taxes, interest, bankruptcies, bureaucracy, fraud, greed, corruption, and inequality; where the rich get richer, the middle class get poor, and the poor become poorer. What does money mean to you? Any idea as to who has acquired the majority of money? Some may believe that the system is working as intended but after reviewing the facts you may believe otherwise. We relay heavily on the Capitalist mindset, but the system is flawed.
Nearly everyone in every country uses money when they wish to purchase goods and services. If you were to look up the definition of money it would state that money is “a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.” Is credit, say the use of
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About 1% of the world’s population own about 40% of all the wealth on the planet. The Global Wealth Report estimates that there were 24.2m people in mid-2010, about 0.5% of the world’s adult population, that are millionaires. They control $69.2 trillion in assets, more than a third of the global total. Some 41% of them live in the United States, 10% in Japan and 3% in China.
Only 16% of high net worth individuals inherited their stash, according to Capgemini. The most common way to get rich is to start a business: nearly half (47%) of the world’s wealthy people are entrepreneurs. (source: The Economist Jan 20, 2011). This would have us believe that the rich don’t inherit much of any wealth and are just hard-working people. Though in reality, on average, the wealthiest 1% of households have inherited 447 times more money than households with wealth below $25K. This means that the least wealthy families inherited $6,100 on average while the top 1% inherited $2.7 million on
Money has been used for a long time. It is present in daily actions such as buying or selling products, paying or receiving for services and it is also used to store of value. In the past money was not so efficient because private banks were allowed to print their own money, in consequence was hard to know the real value of the money and if the bank had gold or silver to support the money they were printing. As a result inflation was caused, in addition to inflation the national debt was very high in consequence of War of 1812. Americans saw a need for change.
Four hundred American billionaires own two trillion dollars, as much as the one hundred and fifty million Americans on the very bottom. The top one percent of the richest American own one fifth of the nation’s total income. Similar to the Gilded Age, people who do business and live in urban centers earn much more money than who do not. The unprecedented technological innovation cause the production easier and faster, which renders the employers benefits. Also, the economy gives huge advantage to those who control lots of money, causing the economic disparity even deeper and promoting the appearance of the “Robber Barons,” unscrupulous businessmen who achieve monopolies in their
I emptied my pockets. Sure enough, they were full of useless junk. Upon closer inspection, in the depths of my front pocket, I found a single copper coin. Just enough to purchase one small piece of candy. My craving could finally be satisfied.
“The bottom 40% of Americans own almost nothing.” Said the video, Wealth Inequality In America. The lower class are scraping by and are not able to invest in stocks or other consuming items whether it deal with money or time. The video, Wealth Inequality in America also said, “The top 20% of Americans own almost everything.” The wealthy community should contribute more to the lower class, allowing more equality of wealth.
This scandalous coinage, also known as the penny, is a lousy excuse for a currency and should be abandoned. The penny costs the American people precious time and money as they attempt to scour through their purse or wallet just for a 1 cent coin, which is having devastating effects on the economy. The obvious solution to this ordeal is removing the penny and rounding all prices to the nearest nickel. On the other side of the argument, people view this as an opportunity for businesses to charge extra for a product or service that you originally would of although, there is simply no hard defining evidence that this would even occur. With everything considered, the penny is a nuisance to society as a whole, we need to abolish it before it creates
A bunch of celebrities aren’t good with money, so they get brokers to tell them how to invest their money. Shaquille O’Neal, former NBA player, future hall of famer, spent his first million dollars 30 minutes after getting it. 30 minutes! He got a banker and his banker told him to return almost every expensive thing that he can unless he wanted to be one of the greatest NBA players in history, only to retire being broke. So Shaquille went back to college, got his degree, and now is very wealthy.
The United States is one of the most developed and wealthiest nations on the planet. However, the nation today has more income and wealth inequality as compared to any other key developed nation. In addition, there is a very large gap that exists between extremely rich and the rest of the people. Most of this income and wealth is controlled by a shocking small percentage of individuals. This accrues to only 1 percent of the nation’s total population.
The penny, serving as the United States' lowest denomination, should not be abolished. Pennies are often ignored, or regarded as inconsequential in the grand scheme of life. However, considering the ties between the public's perception of currency and their confidence in the American economic system, it is clear that the penny is indispensable. It is both a vital part of economic transactions and a reminder of American history. The penny represents the metaphorical golden age of the United States.
A claim the author Melanie Scheller uses in her writing, “On the Meaning of Plumbing and Poverty” is “People whose children think they deserve the conditions in which they live and hold their heads low to hide the shame. But they’re not the ones who should feel ashamed. No they’re not the ones who should feel ashamed.” I agree with this claim, but I feel like it depends on the situation. Kids should not feel ashamed nor should anybody make them feel ashamed about being poor.
Benjamin Franklin once said “ He that is of the opinion money will do everything may well be suspected of doing everything for money.” (Lifehack Quotes, P.1) This era of becoming “money hungry” began in the Gilded Age which occurred around 1877-1917. The industrialists of the 19th/20th century were Robber Barons who used questionable practices to acquire their wealth. Andrew Carnegie, The Vanderbilt family, JP Morgan, and John D Rockefeller were all Robber Barons because they only donated money to make themselves look better, they took advantage of their workers, and exploited other business companies.
In Of Mice and Men, the characters valued money. Still now, to this very day people value money. People of the Great Depression era seemed to have valued money a little more than we do today, due to the low supply of it. It seems as if they were more grateful and happy with the little they had. Meanwhile, we will never be satisfied with the little simple things we get out of
Once upon a time freedom used to be life now its money. I guess the world really do change. (Hansberry 2). This evidence suggests that times have changed and money becomes a conflict in everyday life. But, it becomes a
The United States exhibits a wide difference of wealth distribution between rich and poor people, which is larger than any other major developed country.
The United States exhibits the highest imbalance of wealth distribution than any other major developed nation (Inequality.org). In fact, the richest 160,000 families in America own as much wealth as the poorest 145 million families (Fortune). As the wealth gap increases, more and more individuals are driven into poverty. Unequal wealth distribution also results in a phenomenon known as the cycle of poverty. The cycle of poverty describes instances where families become trapped in poverty for generations due to the restricted access of essential resources, such as education.
Financial management “is the operational and financing activity of a business that is responsible for obtaining and utilizing the funds necessary for effective operations. Thus, Financial Management is concerned with the effective funds management in the business process. Finance is interrelated functions which deals with marketing function, production function, Human Recourse function and Research & development activities of the business concern. Financial Management is concerned with the financing, acquisition and management of assets with some overall goal in minds. There are three major areas in Financial Management decision making.