Income Inequality In The United States

Income Inequality In The United States
The biggest problem in today's economy is wealth distribution also known as income inequality.
Income inequality is the unequal distribution of income across various participants in a nations
economy. This unequal distribution can be seen when looking at things such as property, valuable
possessions, stock, savings, and investments. While the wealth of the US is clearly distributed
unevenly, a "gap" between the rich and the poor continues to grow. Wealth distribution and the gap
between the rich and poor is directly related to the concept of unequal opportunity. Economists such
as Andrew Carnegie and John Kenneth Galbraith both believed that the economy is unfair and
everyone should be given an equal opportunity to become wealthy and successful. People who are
more fortunate should also try to help better the community and put there wealth towards society.
Other economists such as Thomas Malthus and Garret Hardin believe that there will always be some
percentage of humans ... Show more content on Helpwriting.net ...
He had thought of his riches as a moral obligation to benefit the society. In his eyes being a Scottish
immigrant, anyone has the chance too become wealthy as long as that person puts forth hard work
and perseverance, but that is not all. In order to become successful you need to have an opportunity
which some people in the US do not get. He believes he became rich out of luck, and wanted to be
remembered for his good deeds versus his wealth. Living modestly and not self indulging would
leave him with extra money that in return would be recirculated into society. The money would not
be handed to poor people to only consume, but to build things such as libraries and other public
places that would create opportunities for the poor to better themselves. Carnegie claimed that "the
man who dies thus rich dies disgraced". (pg) Money should be earned through work and not through
... Get more on HelpWriting.net ...

The Causes Of The Great Crash By John Kenneth Galbraith
The Causes of the Great Crash by John Kenneth Galbraith
The eight years between the end of World War I and the beginning of the Great Depression were
generally booming ones economically. The economy's total output increased by 50%. However,
during these times there were three visible flaws during this time period. First and foremost, during
these years income was dispersed inequally. This is proven through the fact that, despite output per
worker rising, wages and prices were secure, which led to increased incomes for the wealthy.
Secondly, the United States was no longer the world's largest debtor, but became the world's largest
creditor. This means that a creditor must import more than what is exported. Where an exporter must
export more

The Position Of Poverty Galbraith Summary
"The Position of Poverty" is an excerpt from John Kenneth Galbraith's book, The Affluent Society,
published initially in 1958. Galbraith was a Canadian–American economist, diplomat, and adviser.
He worked under figures such as Franklin D. Roosevelt, Adlai Stevenson, and John F. Kennedy,
taking on roles such as economic adviser, speechwriter, and even ambassador to India. "The Position
of Poverty" is the 22nd chapter of The Affluent Society and discusses the two forms of poverty seen
in America at the time: case poverty and insular poverty. He goes onto discuss their causes, and to
posit solutions to this problem which he believes should not be present in a superpower like the
United States. Galbraith discusses how poverty is typically treated with flippant concern, often
overshadowed by other pressing issues of the time. In the 1960's, the overshadowing issue was the
Vietnam War, but it shifts from decade to ... Show more content on Helpwriting.net ...
He goes on to divide poverty into two subcategories: case and insular. Case poverty is poverty that
occurs on an individualized basis, due to some sort of personal issue unrelated to the environment in
which they are in. Case poverty is characterized as an isolated occurrence, and in Galbraith's
opinion, is often used as an example to shift the blame from society as a whole to the impoverished
person in question. Insular poverty, on the other hand, stems from the environment in which the
people in question are in, and poverty is the norm for the area. Because of the entire area in question
being impoverished, more often than not, inadequate resources are given to the area, making it a
cyclical condition in which very few can escape. In addition, he notes that often people will instead
of blaming their poverty on social and economic factors, they will "associate poverty with natural
causes" (Galbraith

Analysis Of The Movie ' The Ghost '
Shopping is almost as if the consumer is in a horror movie, but better since ghost cannot reveal their
selves to frighten us. Every time an individual is out shopping, ghosts are shopping besides them. It
is almost as if we are possessed by them. They seem to control how we shop, and depending on how
an individual shop they walk around with different types of ghost. These ghost makes up one's
consumer identity. Let me talk first talk about a ghost that I used to shop with, the ghost of gender.
An event that this ghost used to shop with me is when I am shopping for a baby shower. I shop
according to their gender. If it is going to be a girl, I shop for pink clothes and anything related to
that color since it is the symbolic color for girls ... Show more content on Helpwriting.net ...
I am happy to say that I have escaped this ghost.
Everyone have habits as to how they shop and a majority of the time, mine consist of savings. My
mother has influence this habit onto me. I am from a low–income family, so the need to save and
use money wisely is essential for me. Majority of my mother's money were invested on items, such
as foods, clothing, shoes, and any household related items, all which were necessary. If there were
extras, she saves them for next month bills. Very rarely does she buy any of her wants, but when she
does they are items that she uses seasonally, if not daily, such as a portable green house. She has a
mini garden in our background where she plants vegetables and cayenne pepper being a majority of
it. Every spring she goes to Hmong Town, located in the capital of Minnesota, to buy these baby
cayenne pepper plant. My mother usually spends $60 for 30 of them, and sometimes even more. So
recently, she decided to buy a portable green house to grow her own although it will require patience
and effort.
I want to get more reasonable items for less. This habit has the biggest role when I am shopping for
clothes because I think the prices on clothes can be a bit ridiculous. Just a few months ago, as I was
surfing through social media, I saw an article about the price of celebrity Ashely Tisdale outfit. Her
outfit came to be a total of $40,203! I thought it was going to be something

Identity Essay
Identity Most people, unless they choose to be an outsider, want to be considered "cool." Whether
it's to fit in with a peer group, or clique, or to impress someone in particular, like a member of the
opposite sex, or a potential mate. Or possibly to gain something from an individual for financial or
social gain (see "Scamming"). What are the limits of how far you would go to be considered "cool?"
For example, do your beliefs or your religion hold you back or have an effect on the level of
"coolness" you want to achieve? Do you draw the line at wearing T shirts with logos? Maybe you
would wear blue jeans that are "Bedazzled", but not jeans that are pre–bleached in areas? How about
shoes with tassels or curled up toes? Can you be ... Show more content on Helpwriting.net ...
Oh, yeah, slang and vulgarity are often used to make a statement or description a little more
colorful. I don't ever hear "you're an anal orifice", or "eat feces and die", or "fornicate yourself", or
"excrete and fall back in it", although I find them colorful. I do, though, draw the line at maternal
fornication (or paternal for that matter), but it's to my understanding that there are some southern
states where it's distasteful to breed outside of your family. If you're a polygamist, this would still
give you lots of options, eh? I wonder if polygamy is cool? Maybe if you're a Mormon or
something. Who's to say what's cool, and what's not? I guess it goes back to who you are trying to
impress! What's cool to a Mormon may not be considered cool by a cannibal, and vice versa. And
what kind of fashion accessories would be considered cool at a nudist camp? Maybe body
piercings? (Ouch, that's just wrong!) Whatever floats yer boat! I don't think I'd put a lot of effort
there. So cliques and peer groups are the main reasons people to want to be cool. I know, because I
just said so. And that's the same psychology the media uses to "sell" people on "what's cool". There
are a lot of celebrity news programs and the "E" channel, telling the viewers "Who's hot and who's
not" or what kind of clothes are trendy, or Jennifer Aniston's hair is the bomb, or Angelina Jolie has
great lips, etc. I think it's a good thing we have Joan Rivers and Kathy Griffin to put their

Insular Poverty Essay
English 102
Insular Poverty
11/3/2012
Nobody wants to be considered to be below the poverty line. Unfortunately, for fourteen percent of
the people in this country, that is their reality. Fourteen percent of the people currently living in the
United States' basic needs for food, clothing, and shelter are not being met. Poverty is experienced at
different levels in different parts of the country. The causes and effects of insular poverty are
experienced differently in rural and urban areas in the United States.
Insular poverty, defined by John Kenneth Galbraith in his 1969 essay The Position of Poverty, refers
to groups of people who are poor because the circumstances of their lives trap them in social islands
in which nearly everyone ... Show more content on Helpwriting.net ...
Insular poverty will always exist if action is not taken to get the poor out of these cycles.
In urban areas, insular poverty is also caused by housing shortages and homes of inadequate quality
(Powell 5). Housing is more than shelter. It is a critical determinant of opportunity in our society.
The spatial location and form of housing are important indicators of individual and collective access
to social, economic, and political resources (Powell 5). Housing provides social status, access to
jobs, education and other services, a framework for the conduct of household work, and a way of
structuring economic, social, and political relationships (Powell 5). Housing options among the
insular poor in urban areas are typically limited and the homes are usually falling apart. The terrible
conditions of this housing can cause economic problems for the people who live in them. When
services are limited and inadequate, residents may need to spend their own money to try to fix up
their homes. These expenses are huge burdens for people whose incomes are already difficult to live
on (Powell 5). Improving housing in urban areas would be a huge step in helping many Americans
living in poverty better their lives.
Urban poverty rates seem to be very high, and are increasing every day. Surprisingly, poverty rates
are higher in

The Stock Crash Essay
The Stock Crash
It was 1929, and in the United States things could not be better for those smart enough, or for that
matter, brave enough, to gamble on the Stock Market. All of the big stocks were paying off
handsomely, the little ones too. However, as much as analysis tried to tell the people that this period
of great wealth would last, no one could imagine what would come of the United States economy in
the next decade. The reasons for this catastrophic event in American 20th century history are
numerous, and in his book, The Great Crash, John Kenneth Galbraith covers the period and events
which lead up to the downward spiral in the fall of 1929 and the people behind the scenes on Wall
Street who helped this fire spread. One ... Show more content on Helpwriting.net ...
As explained in the book, holding companies controlled large proportions of such facets of the
economy as railroads, utilities and the entertainment businesses. This brought on the constant danger
of devastation by reverse leverage. This meant that money made by these operations was used to pay
interest on the bonds of the holding companies. Thus, when there was a break in the money coming
in, companies could not make payments and were forced into bankruptcy, which trickled down the
ladder. The third reason given was the bad banking structure which was in place in the 20's and into
the 30's. Banks at this time were run individually, thus, when a bank failed or went belly up because
of aggregate deposits, it started a domino effect. In 1929 alone, 346 banks closed their doors,
leaving people out in the cold, with no money, money which they had trusted in the hands of these
banks. This of course left the people with a bad taste in their mouths, and caused them to stop
putting money in banks, relying instead on the bottom side of their mattresses. The bad running of
banks ties into corruption also. The men who ran banks, men like Charles E. Mitchell, were more
interested in keeping the stock market boom going rather then the health of the banks which they
ran. These men kept interest rates low and gave bad loans to people who mostly had no hope of ever
paying back. The fourth reason stated was the dubious state of the foreign balance. During the 20's,
America

The Black Silence Of Fear By Harry S. Truman
Busy Wife's Achievements is an article that was published in Life Magazine in 1956. The article
describes the life of Marjorie Sutton, who was a mother, civic worker, and housewife. The article
describes the lavish lifestyle that Sutton and her family shared. The Black Silence of Fear is an
article that was written by William O. Douglas in 1952. The article describes Douglas' beliefs
regarding the heightened fear of communism. Douglas believed that the heightened fear drove
people to distrust one another and it led people to silence their opinions instead of debating and
communicating with fellow Americans on their present concerns. The Truman Doctrine by Harry S.
Truman was written in 1947 and is a document in which Truman describes typical life in
undemocratic nations and why he believed that the United States should provide support for
countries in need. The Affluent Society was written by John Kenneth Galbraith in 1958. In the essay,
the difference between the poorer classes and the middle–class in America, in the nineteen–fifties is
defined. The middle class had rising retail sales, rising amounts of privately produced goods and
rising personal incomes; the poorer class' life was quite the opposite. The essay also describes why
Americans ignored poverty and how they were able to be oblivious to beggars and poverty stricken
people. The Feminine Mystique was written in 1963 by Betty Friedan. This essay describes the
feminine mystique, which is the false idea that a woman

The Simulation Project
Assignment 8 – The Simulation Project Judith L. Allen BUSN310, American Public University
January 27, 2013 Assignment 8 – The Simulation Project Multinational corporations face many
challenges in their domestic and global environments. According to Ajami, Cool, Goddard, and
Khambata "a multinational firm is one in which a certain percentage of the earnings, assets, sales, or
personnell of a firm come from or are deployed in foreign locations" (Ajami, Cool, Goddard, &
Khambata, 2006, p. 6). According to this definition US Airways Group would be classified as a
mulitnational firm. On Fortune 500's Worst List, US Airways Group is identified as a least admired
company on all eight attributes identified by the research and ... Show more content on
Helpwriting.net ...
358). Based on this definition some of US Airways hard technologies would be their aircraft
(planes), hubs (airport locations) and even their flight crews. The planes that are currently in the
fleet are manufactured by Boeing, Airbus and Embraer (US Airways Fleet, 2013) and some are
equipped with the "ACSS's XS–950™ Mode S Transponder" which allows for the transmission of
information regarding the planes "position, speed and intent" (Press Releases, 2012). They have
hubs in the four US cities and have established a partnership with Star Alliance (US Airways A Star
Alliance Member, 2013), which gives them access to a hub at London's Heathrow Airport as well.
The flight crew has the knowledge to operate the aircraft as well operate the terminals efficiently
within the hubs. It is the flight crew's responsibility to ensure that the passengers are on board the
plane on time and that the plane departs the gate on time. The soft technologies currently employed
by US Airways includes their Nuance interactive voice response (IVR) system, which was one of
their new marketing tools to help reduce customer frustrations (Interactive Case Study: US Airways,
2013), audits of customers' airport experiences (Sunnucks, 2010), and training on the other new

Paul Fussell
Over the years, there has been a dispute on whether or not it was a dire necessity to bomb Hiroshima
August 6, 1945. The general aspect of morality, corresponding to following the mode of ethics in
experimentation, may not justify proceeding to bomb the Japanese city. Paul Fussell, however in
"Thank God For Atom The Bomb" desires to put an end to the dispute of the morality of nuclear
weapon evolvement in World War Two. Paul Fussell dignifiedly defends the usage of the Little Boy
atomic bomb to bring the end to the war. By using anaphora, " Why not? Why not blow them all up,
with satchel charges or with something stronger? Why not, indeed, drop a new kind of bomb on
them, and on the un–uniformed ones too, since the Japanese government has

The Inequality Of Poverty And Poverty
Why is it that the people in poverty have such a tough time getting out of it? "Income inequality in
the United States is higher than in any other advanced industrial democracy" (Lieberman). In
America the poverty gap is continuously increasing throughout the years and no sense of
progression is being shown. People in poverty are finding it harder every year to escape their low
economic stage . When it comes to poverty it does not mean just having a low income it is a
"condition of having little or no money, goods, or means of support" (Dictionary.com). It is a state of
being that the public sometimes have no choice of being in. People born into or living in
communities of poverty are extremely isolated from the rest of America that they do not know what
is available for them because of the lack of knowledge. Some of the reasons why people in poverty
find it so difficult to break free are because of their mentality, being isolated from the rest of the
country and lack of education. First lets identify the reason why there is such a numerous amount of
people in poverty. Recorded data demonstrates that "15.1 percent– just over 46 million Americans–
were officially in poverty in 2010 [, which ]... is an increase from 12.5 percent in 2007"(State of
Working America). Also "The average unemployment rate rose from 4.6 percent in 2007 to 9.3
percent in 2009 and 9.6 percent in 2010" (TRISI, SHERMAN AND BROADDUS). What this data
clearly represents is an increase of poverty rate in

Freakonomics Essay
Freakonomics Book Report In chapter 1, Levitt and Dubner describe how many people in different
cultures and walks of life, which are otherwise inclined to be honest, find subtle ways of cheating to
advance their position or increase monetary awards when incentives are strong enough. The authors
define an incentive as "a means of urging people to do more of a good thing or less of a bad thing,"
and identify three varieties of incentives. Economic incentives are those, which a person responds to
in the marketplace. Social incentives motivate people to respond in a certain way because they care
or are worried about how they will be viewed by others. Moral incentives appeal to a person's sense
of right versus wrong. Three case studies of the ... Show more content on Helpwriting.net ...
Experts in a field often create conventional wisdom. They make observations and draw conclusions
without resorting to the facts. In chapter 4 the chapter considers a variety of possible explanations
for the significant drop in crime and crime rates that occurred in the 1990s. Based on articles that
appeared in the country's largest newspapers, the authors compile a list of the leading, commonly
offered explanations. The next step is to systematically examine each explanation and consider
whether available data support the explanation. What the authors, in fact, demonstrate is that in all
but three cases–increased reliance on prisons, increased number of police, and changes in illegal
drug markets–correlation was erroneously interpreted as causation and in some cases, the correlation
wasn't even that strong. In chapter 5 the author summarizes the results of studies by his coauthors, as
well as other studies, that examine the influence demographic, cultural and other variables have on
the performance of school–age children on standardized tests. In a now familiar theme, the results
are plangently counterintuitive. Based on a mountain of school children's test scores, a successful
child appears to be more "made" than nurtured, more mused than molded. The chapter begins by
reviewing how many parents get educated on raising their children and how parenting experts swing
from one extreme

The Great Depression By John Kenneth Galbraith
Introduction
The Great Depression, as an unprecedented time of economic collapse and social disarray, cast a
dark shadow over the U.S. and affected countries worldwide. The causes of it have always been a
fascinating topic for historians and economists. There has been much debate, and no agreement has
been reached. In the mid–20th century, John Kenneth Galbraith published one of his bestsellers, the
Great Crash, 1929. In less than 200 pages, the book vividly recounts the history of the Wall Street
Crash of 1929, covering the lead–up, actual occurrence, and aftermath. Professor Galbraith, with his
witty prose, keen insights, and crisp narration, argues that the blind optimism and excessive
speculation kept up the market mania and eventually led to the crash. The stock market crash
certainly contributed to the Great Depression, but Galbraith also assigns significant roles to other
weaknesses in the economy.
Summary of the book
The beginning chapter sets the tone: the "Roaring Twenties" for the U.S. was a time of high and
rising production and employment. Most Americans, including President Coolidge, anticipated the
future with "boundless hope and optimism" (14). Such a promising vision is paired with the "desire
to get rich quickly with a minimum of physical effort" (3). The rise and fall of Florida real estate
perfectly manifested the speculation: more and more people bought and sold property with the rising
profits, but the bubble soon burst in 1925 as both the demand for

Conventional Wisdom John Galbraith Analysis
Conventional wisdom, two words which are defined as "generally a theory or a belief" is one of the
themes in this book which is often wrong. According to John Kenneth Galbraith, conventional
wisdom is comfortable and simple and not necessarily true. The definition Galbraith gave,
surprisingly, seems to be accurate. Many people in this world have their own beliefs and theories
which don't necessarily have to be true. What one beliefs as true may not be considered as the truth
in someone else's life. For example, my mom's beliefs are completely different from her older
brother's, so therefore as Galbraith said, I now understand why conventional wisdom is humble and
convenient rather than always being true. In this chapter, the simple and the ... Show more content
on Helpwriting.net ...
I found it unusual how the successful school children appeared more to me created than raised. This
chapter talked about what parents do verses what parents are and I found it interesting how few
factors from the parents' effect how a child is and how the child is educated. For example, I found it
interesting how having books in the home appears to have a positive effect on performance, while
reading to the child does not. I thought that reading to a child will make them learn quickly and
understand at a faster pace, but apparently it helps to have a bunch of books in the house. In
addition, it was mentioned that, what motivates parents and others to worry more about certain risks
than others, is focusing on the effects of fear and a misinterpretation of available data. Since the
parents are the ones responsible for another creature, they spend a lot of time being scared when it
comes to parenting. As a matter of fact, everyone is scared when it comes to parenting but I do agree
with the overall message that how the combination of asymmetric information and fear can lead to
inefficient outcomes. However what I did like in this chapter was how Levitt and Dubner both
concluded the chapter by providing a logical explanation for the empirical

Hiroshima And Nagasaki Thesis
Introduction sets out the topic and first paragraph conveys thesis statement where it is clear that
author is Presenting controversial issue whether it was fair to use atomic bomb on Hiroshima and
Nagasaki. Uses language appropriately to convince the audience. – Author is appealing from soldier
point of view that causes the reader to reflect on the terror of war where destruction of enemy is the
primary mission. –Uses opinions of qualified person to support his points such as James Jones, Pfc.
E. B. Sledge, John Kenneth Galbraith, Michael Sherry, Joseph Alsop, David Joravsky, John Toland,
Glenn Gray, Admiral or the Fleet Lord Fisher, General Sherman and that brings credibility to
authors argument –Author justifies his argument of use of bomb by giving logical appeal. Japanese
pre–invasion patriotic song, "one hundred million souls for the emperor" meant that Japanese men
are not going to surrender and would fight till their last breath and if needed ... Show more content
This improves his reliability as audience can now trust him more as he was there fighting on the
front line and had direct relation to the situation and not someone who was standing behind the lines
–Author make emotional appeal to the audience by making statements like" I was already wounded
and I was 40 percent disabled ". These statements will make audience sympathize and will make
them believe in authors claim as he was part of the situation and fought like true

The Dependence Effect
The Dependence Effect.
Choose 10 vocabulary words from the chapter, ten minimum
Affluent–abundance of or having a great quantity of such as money.
Deprivation–basic necessities that are lacking.
Formidable–portraying respect or a fear of something because of its physical size.
Frivolous–something that is not serious or valuable.
Insatiable–something that cannot be fulfilled.
Obtrusive–prominent or noticeable in an intrusive way.
Pervious–penetrable or permeable.
Plausible–a reasonable statement or argument.
Prestige–admiration for someone or something based on the quality.
Repugnant–something unacceptable or disgusting.
B)
1. The text was written by John Kenneth Galbraith a Canadian born economist and proponent of
American Liberalism. ... Show more content on Helpwriting.net ...
How it is a constant battle to accomplish something and once that is completed, you just expect
more. It is easy to get lost in how difficult something might be to get accomplished and the constant
want clouds how difficult something might be to obtain.
C)
1. A need would be something required to survive such as food or water. A want would be something
that attracts your attention or that you would like to have but is not necessary to survive.
2. From a seller's perspective, a want is much more profitable. We take necessities like food and
water for granted to some extent but a want such as a new pair of Jordans, a new Porsche 911 Turbo,
or expensive jewelry is different. A seller of any of these items knows that they are very much
sought after so the price can be higher. People are willing to pay more for something, the question
would be how much more though.
3. A person who fulfills a wants only to want more may see whatever that is as an endless item. In
the example given, someone who is addicted to drugs might require more of the drug to experience
the same feeling. Humans are selfish in nature so when the want is filled the brain is programmed to
want more and immediately we seek out ways to fulfill that again and again. Working for Verizon I
see this all the time, the new Iphone 6 launches and people go out and buy it for ridiculous prices,
enjoy it for 2 months and then they demand a new better, faster, Iphone again.

Summary Of Thank God For The Atomic Bomb
Thank God for the Atomic Bomb by Paul Fussel is a provocative essay about the opposing views on
the two atomic bombs that America dropped on Nagasaki and Hiroshima, Japan ending World War
2, the most defecating event to happen in history. Over a few million–innocent people died that day,
and thousands of the survivors and their offspring have suffered or died since of the result of the
chemicals used in the bomb. Fussel was a purple hearted second lieutenant military man frontline in
the war. He writes about the difference of opinion of using the atomic bomb from two views: those
with firsthand combat with the Japanese and those without firsthand combat experience with the
Japanese. Paul Fussel's essay has the primary aim of persuading the reader that the Atomic bomb
was the best choice as a means to end the war and he uses the primary mode of evaluation to
persuade. His secondary aim is referential, to inform and explain to those who had no firsthand
experience in that war and he uses the secondary mode of description to do this, citing from those
against the bomb and those with their hands in the daily blood. Fussel focuses on convincing the
reader that the number of causalities would have been much greater had the Allies continued the war
on the ground. He does this simply by evaluating loss of life in invasions before the bomb and
providing the estimates of lives lost in a continued land war. Fussel reminds the reader, "On
Okinawa, only weeks before Hiroshima, 123,000

Environmental Movement And The Sixties Summary
Most historians look back on the sixties as a time when the civil rights movement, the women's
liberation movement, and the peace movement not only came to the forefront of public awareness,
but represented the totality of social justice issues for that era. In "'Give Earth a Chance': The
Environmental Movement and the Sixties" Adam Rome puts forth his argument that one of the most
important and vital movements that coevolved during that decade, the environmental movement, has
long been denied its proper place as one of the most consequential and significant movements of the
time. His overall topic–an attempt to validate a relationship between environmentalism and the more
familiar societal issues of the 1960s–is more specifically articulated in his thesis, which asserts that,
"The literature on the sixties slights the environmental movement, while the work on
environmentalism neglects the political, social, and cultural history of the sixties" ... Show more
content on Helpwriting.net ...
Following Adlai Stephenson's loss in the presidential election of 1956, the question of what
liberalism had to offer in a time of relative affluence became paramount. Using the ideas and words
of Arthur M. Schlesinger and John Kenneth Galbraith, the Democratic Party–and most importantly
John F. Kennedy–harnessed the power of environmental issues for the advancement of their party's
platform. Questions concerning the quality of life were summed up by Schlesinger in an article he
penned for Reporter magazine in 1956, entitled "The Future of Liberalism: The Challenge of
Abundance." Citing this primary source, Rome puts forth Schlesinger's reasoning: "Instead of the
quantitative liberalism of the 1930s, rightly dedicated to the struggle to secure the economic basis of
life, we need now a 'qualitative liberalism' dedicated to bettering the quality of people's lives and
opportunities"

Essay on The Great Crash 1929 Book Review
It is often said that perception outweighs reality and that is often the view of the stock market. News
that a certain stock may be on the rise can set off a buying spree, while a tip that one may be on
decline might entice people to sell. The fact that no one really knows what is going to happen one
way or the other is inconsequential. John Kenneth Galbraith uses the concept of speculation as a
major theme in his book The Great Crash 1929. Galbraith's portrayal of the market before the crash
focuses largely on massive speculation of overvalued stocks which were inevitably going to topple
and take the wealth of the shareholders down with it. After all, the prices could not continue to go up
forever. Widespread speculation was no doubt a ... Show more content on Helpwriting.net ...
This is not to say that people with less money will always throw out their inhibitions in order to
achieve great financial wealth. People must be told that it is ok to venture outside of their safe zone
and know that what they are doing is right. Americans in the late 1920s received plenty of this type
of encouragement from political leaders and assumed financial experts. Galbraith mentions the
optimism of Calvin Coolidge as he was leaving office, the commitment of bankers such as Charles
E. Mitchell to keep the boom going, and the ingenuity of John Jacob Raskob to include the average
person in the market. He even points out Irving Fisher's assumption that "Stock prices have reached
what looks like a permanently high plateau." The lay person already infected with the belief that
anyone could get rich in the market now had the financial means and the support of informed
intellectuals behind them. The choice to buy on margin seems to have been forgone conclusion to
these people who were now buying into the dream everyone was selling them. The ability to gain a
taste of the riches at a 50% or even possibly 75% discount in a bull market could be too much for
any competent person to pass on. An individual with slightly more money might find the
opportunity to double his profits as well given the situation. The author blames the low margin rates
on the Federal Reserve, who in

Freakonomics Chapter 3 Summary
In chapter three of Freakonomics, Levitt answers the question "Why Do Drug Dealers Still Live
With Their Parents?" The chapter begins with a quote by economist John Kenneth Galbraith who
said "We associate truth with convenience" . This means that the public will not challenge or doubt a
reasonable statistic. For example, an advocate for the homeless named Mitch Snyder compared the
recent history of homelessness in the United States, and most of the people being crack dealers. To
determine the condition of dealers a man named Sudhir Venkatesh was sent into the field. His
assignment was to visit Chicago's poorest black neighborhood with a clipboard and a seventy–
question, multiple–choice survey. The first question started with "How do you ... Show more content
In this chapter advocates of women's rights, homeless, and politicians often stretch the truth on
everything, which causes people to pay more attention and get support. For example, in the 1990's a
homeless advocate Mitch Snyder says that there are 3 million homeless people in America. 3
millions people being homeless means that 1 out of every 100 Americans would be homeless, which
is defiantly false information. People nowadays still continue to use conventional wisdom especially
people running for elections. Listerine was invented in the nineteenth century as a powerful surgical
antiseptic. Later on it was sold in a distilled form as floor cleaner and also a cure for gonorrhea.
1920's was when listerine was most successful. It was a solution for "chronic halitosis" which is a
medical term for bad breath. By advertising new ads that featured forlorn young women and men,
eager for marriage but were turned off my their significant others bad breath. It wasn't until that
time, bad breath was not conventional. The sales for listerine rocketed, in just seven years the
company's revenues rose from $115,000 to more than $8 million. Advertising is still a major thing
today, and it always will

Embracing Depression Essay
"We are all in the gutter, but some of us are looking at the stars." –– Oscar Wilde Perhaps I feel
compelled to write on the subject of depression because it is a selfish disease. It seeps into every
crevice of one's life; it refuses to be ignored, to be relegated to some obscure corner of the mind.
Perhaps I'm writing about it because of what I have learned about my relationship with the disease.
Perhaps the time has come when I'm ready to stop cursing the depression and start embracing it.
What I'm about to say is terribly unfashionable, and I hope that you will forgive any offense that it
may cause. In all truthfulness, I'm glad that I have lived with depression as a companion. ... Show
more content on Helpwriting.net ...
On a recent episode of ER, a physician who was deaf queried, "Did you ever think that being deaf
might not be so bad?" She had accepted that her deafness was a part of her life, without allowing it
to define who she was. For quite a while, I wasn't able to see my depression in that way. When it
was first diagnosed, I didn't want to admit that this was something that would affect my existence. I
wanted to rid myself of the illness immediately. As the years passed, however, I let myself become
the incarnation of the disease. Lurking at the edge of my consciousness was the thought that I should
resist the attempts to heal the depression. A part of me believed that if I let the medications and
psychotherapy take the depression away from me, I would be lost. Rather than seeing myself as a
person with depression, I saw myself as a depressed person. The distinction is subtle but significant.
I have finally reached the point where I can see both the horrors and the beauty of depression. It is
something that should be neither glorified nor reviled. I am able to hate the illness for stealing away
moments of my childhood while simultaneously appreciating the insight it has helped me to gain.
Had I not known the absolute anguish it brought, I would not now recognize supreme happiness.
Had I not experienced the heartache of personal defeat, I would not find such succor in emotional
triumph. Had there not been times when I thought of

Essay John Kenneth Galbraith
John Kenneth Galbraith, born on October 15, 1908, was one of American's more influential
economists, longtime Harvard professor, and a U.S. ambassador to India, an author, an economist,
and "used caustic wit and an iconoclastic temperament to help set the foundation of modern
economic thinking" (http://www.csmonitor.com). He, along with another famous economist, and
longtime rival, Milton Friedman, believed that everyone has an idea, and that every idea matters,
and were masters of the debates and are both very smart people, however, Dr. Galbraith was more to
the progressive tradition, and his work was never really accepted, and criticized. Yet through the
presidency of John F. Kennedy, he was a trusted adviser, and the author of more ... Show more
Through 1937 to 1938, he was had postgraduate work at Princeton university, and in the same year,
1937, he became an American citizen and married Catherine Atwater. In 1938, he traveled to Europe
for several months, were he developed his ideas of economic standings while attending the
international economic conference. In 1930, Galbraith was appointed as the assistant professor of
economics at Princeton; while in 1940 to 1941 becoming the economic adviser to the National
defense advisory Commissions.
His later economic overview
During World War II, the United States were still feeling the effects of the great depression, and
wartime productions, deficits and accommodating monetary policy, and runaway wage prices
seemed to be a reality, Dr. Galbraith joined first as an assistant administrator, than later as a
department administrator, in charge of price division in the Office of price administration in 1941
through 1943, in hopes to keeping inflation from crippling the war effort. Upon retiring in 1943, he
became a member, and the board of editors, to fortune magazines, and directed the U.S. strategic
bombing survey which was a way to assess the results of the bombardment the U.S. did over Nazi
Germany at the time, in which Galbraith came to the conclusion that general ineffectiveness of
strategic bombing trying to

John Galbraith Poverty
More to Poverty, Than Just Poverty In John Kenneth Galbraith's "The Position of Poverty" Galbraith
argues that there are two main types of poverty and the main way in which to diminish poverty is
through the use of money. In his essay there are points which could be argued as opinion, such as his
definition of poverty or how the life of those that are impoverished. First of all, one fact he does
state is that "'we still have a great many poor people'"(Galbraith 502), and although this is true the
way in which Galbraith paints the picture of the poor could be held up for argument. Galbraith
claims that "they were: 'Overworked and undertaught, weary and careworn. without quiet and
without leisure.'"(Galbraith 502). Galbraith portrays the poor as people who are undereducated,
underfed, and under–clothed, portraying the impoverished all as people without the proper
necessities of a decent life. But then he later goes on to say that "People are poverty–stricken when
their income, even if adequate for survival, falls radically behind that of the community."(Galbraith
503) This contradicts to portrayal of the poor people he describes earlier. The ... Show more content
argument made could be that if Galbraith's definition of poverty is that anyone who falls under the
minimum income of the community than they are poor, even if they have enough for the necessities
to survive, in more

Inequality And The Financial Crisis: The Wall Street Crash
In the beginning of the financial crisis, most people normally will not realize or predict the disaster
that is coming. As John Kenneth Galbraith discussed in "The Great Crash 1929," "only after the
market crash were there plausible grounds to suppose that things might now for a long while get a
lot worse" (pg. 90). During the Wall Street Crash of 1929, the most destructive stock market crash
happened in the United States' history. There are numerous causes dedicated to this crash, such as,
the inequality and the poor regulations of structures. The causes of this 1929 Great Crash are similar
to those of the Financial Crisis in 2008. However, the Wall Street Crash of 1929 led to "a longest
and deepest economic downturn in the United States' ... Show more content on Helpwriting.net ...
Many researchers propose and suggest that inequality is the main factor that leads to a financial
crisis and there is a casual connection between inequality and severe downturns. In the 1929
Financial Crisis, inequality refers to the corrupted distribution of income among the citizens. In the
1928, the income unequal distribution became the most extreme point in the United States since the
richest five percent of the population held more than one–third of all income of the United States'
citizens. From Galbraith's words "the proportion of personal income received in the form of interest,
dividends, and rent – the income, broadly speaking, of the well–to–do – was about twice as great as
in the years following the Second World War" (pg. 177), it showed that the rich were gaining more
power and wealth, in different forms. As the five percent of the population held the large proportion
of the United States' economy, this means that the rest of the population, especially those who were
originally poor, were suffering just for living. From this fact, it proves that, at that time, "the
economy was dependent on a high level of investment or a high level of luxury consumer spending
or both" (pg.177). When the economy is highly relying on only a few people, it becomes less stable
and is more likely to suffer from big swings because these people were not able to buy large
quantities of everyday needed items. Because the rich invested in new projects and bought luxuries,
when they lose money and could not afford to buy things, the economy crashed. Inequality was one
of the causes of the 1929 financial crisis because in the beginning of the decade, the economy was
growing; therefore, it created an environment that buying stocks became a hobby for the rich. As the
rich gained more money from stock market, it persuaded others that stock was easy money, which
dragged more people to this market. Due to

Conventional Wisdom, By John Kenneth Galbraith
John Kenneth Galbraith, created the phrase "conventional wisdom", and found that social and
economic behaviors prove to be complex. The passage uses an example of the homeless in 1980s in
the U.S. A spokesperson for the benefits of the homeless states that there were around 3 million
homeless in the U.S. The American public found that this was absurd, since this meant that 1 in
every 100 people was homeless. However, it was found that he made up those amounts. Another
example of this so called conventional wisdom, is listerine, it created the belief that bad breath is
unconventional (Levitt & Dubner, 2005 p. 86). Conventional wisdom would lead to the sway of
public opinion of President Bush. Instead of stating something cruel and maybe ... Show more
93). The gang would then change to a new location, then a gang member called Booty, gave
Venkatesh a notebook full of the gang's finances (Levitt & Dubner, 2005 p.95). Soon After,
Venkatesh would go onto finding out more about the "criminal enterprise". He learned that the gang
was like any other business, and had cuts of the money to each of the members, the size depending
upon how high they were up on the pyramid. He found that the gang would pay for the funerals of
gang members that had been killed. The gang also had money allotted for things in the community.
Venkatesh would later learn that J.T. usually made around $8,500 every month, and that the highest
gang members made around $500,00 yearly (Levitt & Dubner, 2005 p. 99). However, he found that
those at the bottom of the pyramid had a one in four chance of being killed (Levitt & Dubner, 2005
p. 101). Additionally, Venkatesh learned that around fifty–six percent of the neighborhoods children
were below the poverty line. He learned that due to these odds, crack dealin was much like any other
profession. A select few made it and most did not. J.T. found that many foot soldiers quit due to the
working conditions and such low odds of success. He would later be arrested and put in prison
(Levitt & Dubner, 2005 p. 106). After this conclusion, the next topic introduced in the nylon
stockings for women. This is compared with cocaine, which was the drug of the stars. Just like the
silk stockings of

Freakonomics Chapter 3 Summary
In chapter 3 in Freakonomics by Stevin Levitt and Stephen Dubner, it concentrates on conventional
wisdom. The chapter begins by discussing about conventional wisdom, and how conventional can
be wrong. Conventional wisdom was invented by John Kenneth Galbraith to explain generally
acceptance by the public. It is furthered explained that conventional wisdom is associated with
convenience. That many experts used it for their own agenda. But then explained how asking
pointed questions can often overturn conventional wisdom. The authors provide some examples of
when people have done some creative lying to draw attention. One of the examples was about
getting people's attention on how rape is a serious problem, it's much more attention grabbing to tell
people that it occurs in every one in three women, rather than the ... Show more content on
Helpwriting.net ...
Levitt and Dubner present a Chicago drug gang with a misperception that all drug dealers are
wealthy. Since the police had portrayed drug dealers as wealthy to the public. The authors use
Sudhir Vankatesh research to disprove the conventional wisdom about how all drug dealers are
wealthy. Their question was, "why drug dealers are leaving with their moms if they are so wealthy?"
They start to provide analysis by using Sudhir research on The Black Disciples. They started their
analysis by proving information on how Vankatesh got interest/involved with the project. Then the
authors mentioned how Vankatesh got his hands on the J.T. financial notebook. J.T. was the boss of
the gang and a college graduate on the project Vankatesh was doing. The financial records showed
the conventional wisdom about drug dealers was wrong. Drug dealers earned far less than minimum
wage at the time. Also it illustrates the reality that only the leaders were getting payed at least

Adolf Hitler Outline
Outline
Thesis statement:
Since World War II, researchers and historians are arguing, is Adolf Hitler a great leader or not? It is
believed he is, because he made a lot of people follow him and he lead them into conquering almost
the whole world in a difficult economic circumstances, while his allies and other countries were in a
complex situation during the world war 2 (WW2).
I. Hitler almost conquered the world :
A. The Nazis and the Empire of Japan have conquered most or all of the world,
B. Due to the economic development, rearmaments, the military management, planning, and no
major powers remained to be confronted.
C. According to the article (Hypothetical Axis victory in World War II) ,between 1939 and June
1941 the German army invaded and occupied many ... Show more content on Helpwriting.net ...
From the massive unemployment and economic paralysis of the Great Depression to creating over 6
million jobs
B. According to the article (How Hitler Tackled Unemployment And Revived Germany's Economy
written by Mark Weber ) John Kenneth Galbraith an advisor to several presidents and the author of
several dozen books wrote "By 1936 high income was pulling up prices or making it possible to
raise them by the late thirties, had full employment at stable prices. It was, in the industrial world, an
absolutely unique achievement"
III. He made people follow him despite the afoul things he did :
A. Hitler promised his followers to restore Germany to a position of power in Europe,
B. And to restore it to luxurious economic position with low prices and taxes, and with high income.
C. He promised to make Germany a industrial country once again
D. According to the article (Why did so many Germans support Hitler? ,wrote by Tyler Cowen )
Goetz Aly a German historian has a radical new theory to explain (why did average Germans so
heartily support the Nazis?) he said that "a leader who not only made Germans feel important, but
also made sure they were well cared–for by the state"
IV. Hitler killed to many people

Does Advertising Create Artificial Wants?
ESSAY QUESTION
Does advertising create artificial wants? Your answer should discuss John Kenneth Galbraith's
'dependence effect' and F.A.Hayek's response.
Nowadays, the media's power is indisputable and it is not accidental that it is called the fourth estate.
That power represents the possibility to exert influence on people's behavior. Nowadays one very
hot and disputed issue is the advertisement effect on the consumers' buying behavior. Well prepared
campaign can influence consumer decisions and make them buy certain product. The modern world
is a world of overproduction. We are surrounded by all kinds of goods– some urgent and some not
so much. Certain goods are sold quickly while others remain on the shelves. Every company ...
Show more content on Helpwriting.net ...
Therefore, the needs are essential for the person's existence while wants are essential for
comfortable and cozy living. Gilbraith wrote in his essay that modern production creates the wants
that it seeks to satisfy through advertising which is exactly what the "Dependence effect" is. He
called ads "a system to create needs" (Gilbraith). Those created needs are what we call artificial
wants. Аdvertising stimulates false needs, that are imposed on people's minds – false desires that
would not occur without advertisements. The user responds inadequately by submitting fаlse
information about his or her needs. The circle advertising → false needs (called artificial wants) →
wrong signals → unnecessary goods → advertising turns infinitely and distorts the society's
perception of what the real meaning of needs and wants is. All these wants are artificially created by
advertising and are designed to support a person's comfortable way of living. They are not essential
for one's survival. And just because of that reason, corporations spend millions of dollars each year
in order to develop well–planned advertisements that are so powerful they can create artificial wants
which in turn are essential for a companies' prosperity.
In today's world, materialism seems to spread rapidly affecting more and more people. This
phenomenon has taken alarming proportions and threatens the new generation to live inadequate life
with unrealized potential. That is due to the

The British Bulldog : Winston Churchill
The British Bulldog, Winston Churchill, stood as a symbol of peace and hope in a time there was
little. Churchill stands out as an admirable and respectable leader. With determination, bravery,
cooperation, communication, motivation, and patriotism, Winston led Britain through the dark days
of World War II. Churchill has demonstrated determination since childhood. He faced common
speech impediments, a lisp and stutter. However, he worked through this, and would later give world
renowned speeches that would be remembered for decades as an adult. He also proved his
determination after applying to the Royal Military Academy of Sandhurst three times. Though most
would give up after the first rejection, he continued applying, and even graduated with honors in
1894. After this, he was appointed Fourth Hussars as sub–lieutenant (Churchill). Along with
Churchill's prominent determination, bravery was also an evident characteristic. An example of this
is when Churchill was captured during war after defending an English train. He was put in a prison
camp after his capture, and daringly escaped. He traveled through the countryside in South Africa,
and eventually made it home a hero (Winston). His bravery to not only attempt an escape from a
prison camp, but to also protect the English supply train, is an admirable aspect of a leader.
Cooperation was also a major aspect found in Churchill. He largely collaborated with US President
Roosevelt and Soviet Leader

Conventional Wisdom Research Paper
The deception created on the hope and dream of people can significantly affect the members of
society. "Conventional wisdom" is the phrase coined by the economist John Kenneth Galbraith for
such deception. According to Galbraith, the conventional wisdom is often simple and convenient–
but not necessarily true. Conventional wisdom was also used by journalists and experts to influence
the society is some ways. Advertising is another brilliant tool to create the conventional wisdom.
Listerine, for example, popularizing the term "chronic halitosis", which was the obscure medical
term for "bad breath" and convinced the people that bad breath is the catastrophic issue in which
Listerine was the cure. Conventional wisdom also came into play during ... Show more content on
Helpwriting.net ...
During 1939, the nylon stocking was very popular in the U.S. due to their affordable price, attractive
appearance, durability and most importantly, they looked identical to the classier silk stockings.
Nylon stockings became alternative to the silk stocking. The same were true for the crack cocaine in
the 1970s to 1980s which became the affordable alternative to cocaine, the most expensive drug in
the U.S. The crack cocaine had become so popular that it was an epidemic. The U.S. government
declared the war on drugs, in attempts to eliminate the drug dealers by sending more and more of
them to the prison. However this effort resulted in the reversed effect, the imprisoned drug dealers
have established connections with their inmates and thus strengthening the drug business even more.
The arrival of the crack epidemic has increased the gap between white and black Americans. Crack
selling has devastated the entire neighborhood and affected the black people community as a whole
regarding the rapidly increased rate of infant mortality, low birth weight, and parental abandonment.
Furthermore, the homicide rate among young blacks has been quadrupled. Later in the 1990s, after
the crack cocaine epidemic reached its peak, the crime rate began to decrease because of the
powerful ripple

Social Entrepreneurship
SOCIAL ENTREPRENEURSHIP
When I was a kid, I could have been what people would now call a social entrepreneur or
socialpreneur. A lot of people would have fallen into this category. To help your school or
church or youth group, you may have sold chocolate bars door–to–door. People bought them,
even if they didn't like chocolate; because they knew the money would go to support a
worthy cause. Both the seller and purchaser are examples of social consciousness in action.
Now my own children, bring home their school fundraisers from school and we too buy the
over priced products, not because they are great products, but because it supports their
school, a good cause. Today's socially conscious entrepreneurs, ... Show more content on
Helpwriting.net ...
In 1994, Time Magazine named
Wendy among the 40 Most Promising Leaders Under 40. Wendy was named one of
America's Best Leaders by U.S. News and World Report in 2006. As " Ian Huschle, one of
Wendy Kopp's first employees said ''I heard a great definition of an entrepreneur yesterday,
as someone who looks at the calculations, sees that they don't add up, and goes forward
anyway, on the conviction that they'll work out. That's what Wendy does.'' Quoted by Ms.
Kopp herself, she said ''I look at where am I going to have the most impact –– if I do this for
three years or if I teach for three years,'' Ms. Kopp, now 33, said when asked why she never
tried the classroom herself. ''I think Teach for America has suffered from the fact that I did

not teach, in a major way. I also think if I had taught, I wouldn't have started Teach for
America.'' The bottom line in summarizing this analysis of social entrepreneurs is that they
recognize a social problem and use their entrepreneurial principles to achieve social change. 3
As John Kenneth Galbraith said, "All of the great leaders have had one characteristic in
common: it was the willingness to confront unequivocally the major anxiety of their people in
their time. This, and not much else, is the essence of leadership." This is exactly what Wendy
Kopp did.
Contributers:
Social entrepreneurship. (2011, February 11). In Wikipedia,The Free Encyclopedia. Retrieved from

John Kenneth Galbraith : Written Profile
Jillian Baggao
Marsha
Economics
John Kenneth Galbraith – Written Profile
John Kenneth Galbraith known as the most influential economists in the 20th century who wrote
many bestselling books regarding economics, but also wrote books about art history, memoirs and
novels. Galbraith was born in Canada and moved to the United States in the 1930s. He earned his
Ph.D. in Agricultural Economics at the University of California in Berkeley
One of his major bestselling economic books, "The Affluent Society" written in 1958 deconstructs,
and conveys how World War II affected the private and public sector and presses on the
unacceptable gap between them. Gallibrath examines many economic topics throughout "The
Affluent Society" including production, consumption, inflation, social balance and introduces many
new theories and ideas to audience in the past. Firstly, a key phrase John Galbraith uses frequently is
"conventional wisdom" which is now used for a variety things (unrelated to economics), defined as
a set of ideas familiar to all, widely accepted and is no longer relevant. Galbraith explains that the
conventional wisdom is based on nineteenth century, outdated, economic conditions in regards to a
time of poverty where the production of goods was necessary and therefore is not applicable to the
20th century economy in America. His approach guides us through changing conditions and
identifies the need to change our ideas to accommodate new situations. For example, phrases such

John Galbraith The Gospel Of Poverty
The American Dream is the idea that every American should have equal opportunities to achieve
success and happiness through hard work, determination and initiative. The American dream is
based on the opportunity for success, the capacity to rise to a higher social or economic status, and
prosperity earned through hard work. Nowadays, our interpretation of the American Dream includes
the opportunity to pursue a career without artificial barriers, opportunity for home ownership,
opportunity for one's children to receive a good education and opportunity without restrictions
limited to a person's socioeconomic class, religion, race, or ethnicity. Today, it is commonly believed
that under capitalism, the ideals of the American Dream are fully met. Why, then, is there such a
wide divide between the rich and the poor in America? Between men and women? Capitalism may
have once stood for equality and prosperity for all, but unfortunately the sentiment no longer applies
in our society today. There are serious shortcomings that exist in our system that are widely
overlooked and even ignored.
The American dream, as it is typically glorified, never truly existed. America boasts an "equal
opportunity" environment, promoting a system in which people ... Show more content on
Helpwriting.net ...
In John Kenneth Galbraith's essay The Position of Poverty he discusses poverty in America and
what could be done to counter it. Andrew Carnegie wrote an essay in 1889 entitled The Gospel of
Wealth. The main point of his essay is that a man of wealth has the duty or obligation to improve the
society. In contrast with Carnegie, Galbraith focused his attention on poverty and its roots as well as
its effects on the communities and the individuals within the communities. Galbraith's approach to
poverty is different from that of Carnegie. In Galbraith's essay, the advice he offers about poverty is
one that I find to be more rational than the advice offered by Andrew

Karl Marx Theory Of Poverty In Canada
Poverty in Canada: Is the Middle Class Dream an Increasingly Impossible One?
Historical and Contemporary Perspectives As the middle class try to climb the ladder, the rich seem
to own the ladder. The divide between the middle class and the rich is an increasingly major issue in
Canada since long ago. Many studies done by historical and contemporary economic professionals
have shown how their perspectives are positively economic based. For one example being Karl
Marx; an excellent philosopher who changed economic thought during the eighteen hundreds. By
arguing that all of human history is governed by economic laws that perpetuate the conflicts
between different social classes, Karl Marx made the importance of his economic theory very ...
Multi–billion dollar corporations pay increasingly less to their workers so that capital will remain
high. In today's society workers cannot depend on making more than they expect because the
Canadian capitalist system exploits workers. Many theorists can argue how the middle class cannot
reach their dream, almost impossible such as John Kenneth Galbraith, Milton Friedman and John
Maynard Keynes. Firstly, Galbraith influenced economic thought in a way that international
corporations held the real decision making control in the economy, arguing that middle class
individuals should also be considered into the economy to reach their goal of affluence.
Additionally, he believed that more government involvement and regulation policies for the
economy should be imposed, to help improve society and diminish poverty. For instance, a high
production rate in consumer goods including automobiles and televisions in abundance to public
goods including schools, hospitals and parks being short in supply. In contrast to Galbraith, Milton
Friedman argued against government intervention in the free–market economy, believing that the
government intervention resulted in price inflation and increased public debt. Friedman argued the
most important way into maintaining a healthy economy for all classes is to regulate the supply of
money in circulation known as monetarism. Furthermore, John Maynard Keynes, a historical
economist during the Great Depression, recognized the importance of government spending to
combat economic downturns including the Great Depression. Keynes explained the importance of
investment in maintaining high employment levels and higher rewarding opportunities for middle
class

Baby Boom Research Paper
After World War II, in the 1950s the United States domestic economy prosper drastically, therefore,
it is usually named by historians as the age of affluence. Unlike USSR, the United States took
advantage of the war and became a world power. Several changes Even though, there was fear of the
nuclear emergencies American citizens wanted to forget the atrocities of the war by an influx of new
technologies as the automobile and many others. One of the essential factors of domestic change
was known as the "Baby Boom", meaning as an immense population growth in the United States.
Due to this phenomenon, the United States became mainly consumerism several reforms were
introduced. Additionally, there was also social changes regarding women rights.

Freakonomics: A Comparative Analysis
When I was young I always heard touching toads would give you warts. This was presumed not
because people are superstitious or arrogant but because there wasn't any other logical explanation.
Toads have a wart like texture so it made sense to hypothesize that's how you got them as well, and
other people never questioned other peoples believes. This is an example of conventional wisdom
and how it can often be misleading and inaccurate. Conventional wisdom is the ideas that people
accept as factual regardless of how truthful that statement is.
If we know now conventional wisdom is often incorrect, then why do we rely on it?
According to Steven D. Levitt and Stephen J. Dubner, the authors of Freakonomics, "theories made
their way seemingly without ... Show more content on Helpwriting.net ...
Politicians who stretch the truth on topics in their statistics to get a supported outcome from the
public. As there are many more examples of conventional wisdom, the others at Freakonomics are
only challenging the false accusations. In chapter 3 sociologist Sudhir Venkatesh gives us a detailed
insight on the economics of drug dealers and their street gangs. The common perception was
destroyed, that crack dealers are wealthy human beings. Compared to the McDonald's franchises,
there are comparatively few head positions prospering from the income after paying for the labor of
thousands of workers. Even then, most street dealers make less than minimum wage, and carry a one
in four risk of death. Conventional wisdom is hard to correct. It is often created by the experts in a
particular field. Sometimes observations and theories are made without any recognition to factual
evidence. According to Levitt and Dubner "journalists need experts as badly as experts need
journalists". Journalist and experts at like bees to honey, when you have one, you will not only have,
but rely on the other. Once a expert ever so whispers a deduction to a journalist that assumption will
be spread throughout the media, passed on to other experts all relying on the previous error, making
it seem credible. As something is repeated often enough it becomes an unquestionable common

Poverty, By John Kenneth Galbraith
Poverty is a huge issue which never seems to ever go away or be fixed. There are many options as to
what can be done to eliminate poverty but, not all options please everyone. John Kenneth Galbraith
in his essay "The Position of Poverty" argues that "to eliminate poverty, we must invest more than
proportionately in the children of the poor community (Jacobus). Money has been a very important
tool that has divided the world and given humans labels as wealthy or poor. The wealthy seem to
have worked hard for what they have but others not so much. Poverty has been growing and it has
been spreading across the world. Those people who are poor sometimes have no chance to exit the
poverty that have been in because of very little supplies or just not a great community or
environment, some with very little food and they just give up and never keep trying to exit this
moment in their lives. The rich must make an effort to try and redistribute the money in our nation
to eliminate poverty for good. There has always been a gap between the incomes of all people. Since
the 1920's we haven't had that much of gap up until now of course. America has more wealth and
more income inequality than any other major developed country on earth, and the gap between the
very rich and everyone else is wider than it has been at any time since the 1920s (Sanders). If we
think about that clearly and critically we find out that something is seriously wrong. The wealth that
some people have is ridiculous

Corporate Sponsored Education: The Limits Of Social...
Corporate Sponsored Education: The Limits Of Social Responsibility
ABSTRACT: The business sector increasingly subsidizes financially challenged institutions.
Representative examples would include health care, major sports arenas, and penal facilities. Among
the recent beneficiaries of corporate largesse are schools. Such assistance blurs social roles and
raises serious moral concerns, especially those of moral agency. Education, more so than other
social institutions, determines the kind of citizen and moral character a person can become. Put
differently, education operates on virtue development that may override the fiscal logic of profit–
maximization practiced by corporations. In this paper I argue that whatever benefit received by ...
In many locations, there is an added incentive of tax relief for a business to remain in a community.
Events over the past several years prompt revisiting social responsibility of corporations such as the
thousands of unemployed as a result of downsizing; maladjusted auto air bags injuring and killing
infant passengers; tobacco industry's covering up addictive chemicals used in the production of
cigarettes; Prudential Securities inflating the cost of stock for personal profits; and discriminatory
hiring and promotions at Texaco Oil. Although these are reasons for recasting the terms of the
contract to prohibit business activities that are unambiguously injurious, there may also be good
reasons for restricting positive duties of corporations in society that are ambiguously beneficient.
For while some corporations have breached the contract, others have embarked on projects that
manifest a concern about the cultural and educational endeavors of institutions. It is not unusual to
hear of corporate sponsorship of musical events, theatrical performances, scholarships, research
grants, and the latest trend, providing sufficient subsidy that earns companies the right to have their
name on sports arenas and stadiums (Boston's Fleet Center, Buffalo's Marine Midland Center, and
Montreal's Molson Center). This gesture of civic good will has intensified as it extends to an
institution upon which the influence may not be so

Essay about The Great Depression in America
     Imagine losing all of the money you've ever earned in a few
years. This may seem quite far fetched, but the Crash of 1929 made this a reality. The crash of 1929
established the beginning of America's most memorible era; the great depression. According to the
London Penny Press, following the week of Black Thursday, one could go to New York and see
speculators hurling themselves from windows because they had lost everything in the crash. (The
Great Crash 1929–Galbraith) Many people had everything they could ever dream of before the crash
occured, but after the crash they found themselves poor, hungry, unemployed, and devastated.
ErmDux14: Of course during hard times people need someone or something to ... Show more
Many held onto their stocks until they reached a high enough point, then selling them at a much
higher price that they had bought them, making a hefty profit. This worked well for a long time, but
soon enough skeptical people would lose confidence in the market and would begin to sell their
stocks. This ruined the idea that stocks were increasing in value. People no longer held onto their
stocks in hopes to make a profit. Instead they would want to sell. Eventually everyone wanted to sell
and prices fell drastically. (The Great Crash 1929–Galbraith) This is the way the market crashed in
1929. In years leading up to 1929 when speculation was high and stocks were being purchased, they
were bought on a ten percent margin. This meant that investors were putting up only ten percent of
the actual price of a stock. The remaining ninety percent was borrowed from banks or brokers.
Many thought that they would be able to repay loans and gain profit when they sold their stocks
later on. This led to eight billion dollars of stock loans which president Hoover had to liquidate.(The
memoirs of Hebert Hoover) ErmDux14: In September of 1929 the market was very unpredictable,
some days doing well other days it fell a little. Many started to notice a downward trend. The
industrial part of the country started to slump and the market began to

Income Inequality In The United States

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