Does it exist? Not in the literal sense, no. What exactly is economic equality? In order to really touch the topic we’ll first have to understand what two words and their definitions mean.
- Economics – Wikipedia defines this term as the social science that analyzes the production, distribution, and consumption of goods and services. When we hear “economics” we immediately think of money. In reality economics incorporates all of the core things one tends to work for. Sure, it’s dominated by the root of business and finance but health care, government and crime all fall into the category of economic justices.
- Equality – In the simple sense this is the state or quality of being equal. It’s how it’s combined with Economics that delivers such a strong topic at dinner tables across America.
Economic Equality & Social Issues
Our primary topic here at socialjusticeissues.net revolves around whether or not we see a bridged gap of rich and poor citizens. How much inequality can really be tolerated? How is society effected by the gap of wealthy and poor? Let’s take a look at this graph:
The graph should get credit from one of our favorite blogs: “The Consumerist”
It shows the increase of income and pay rates from 1995-2005. The average CEO pay rose a whopping 409.2% at the peak. The average worker in our society saw a pay increase of 4.3% at the peak of good fortune. So quite clearly we’re not seeing economic equality in modern day America. So what’s the Social Justice scale on this graph? Do you find it justified that one person could rake in such a huge increase? Do you believe the bottom of the scale doesn’t fluctuate as much because the rich just keep getting richer? That graph sure does seem to hit home with that topic.
Inflation and rising prices on consumer goods should force the lower income levels to increase. How else are these consumers going to dump money back into the pockets of CEOs? Something has to give. In 2009 things start to bubble and you can see CEOs turning over at alarming rates. We’re not against the CEO we’re just suggesting that there is an inequalities across the board and it most definitely effects society.
This topic isn’t meant to pressure the idea that CEOs are in the wrong or that they should feel guilty driving their expensive cars past a homeless person. It’s a suggestive theory that perhaps everyone in a socially equal economy would benefit from a better distribution of wealth. More money on the bottom end makes the top end more stable. Our current economic ladder is too high and top heavy. The issue is that things will topple over and when they do, things will be worse off for the bottom and top runs of this epically disproportionate ladder.