America's Dynamic and Robust Economy
America boasts of a dynamic and robust economy despite criticism by the citizens. Not every American believes that the economy is in a good state as purported by the bureaucrats. The article Inequality and the American Dream: The world’s most impressive economic machine needs a little adjusting, portrays arguments on inequality, meritocracy, and immigration that are some of the challenges affecting the U.S economy.
Inequality and the Rich-Poor Divide
The article argues that inequality is increasing in the United States because the rich are continually pulling away from the rest of the populace. The wealthy have invested in substantial global businesses. Thus, they can survive without depending on the country’s economy. But as globalization benefits the rich, those in the middle and low class are frustrated; there is the outsourcing of labor especially for the white collar jobs. Therefore, the low-class individuals remain poor due to joblessness and lack of money to sustain themselves.
Impact of Immigration on the American Job Market
In a like manner, immigration has posed a severe threat in the American job market. The article posits that workers are being exported to America from neighboring nations. The presence of foreign low-skilled labor has pulled down the wages earned by the Americans. In so doing, the immigrants live a better life than the American citizens.
The Challenges of Meritocracy
Another factor that significantly impacts the American economy is the meritocracy. The article depicts that despite America being seen as a world of opportunities, the situation might be very different. The economy has sidelined the poor; the affluent families enjoy the education system by taking their children to top colleges. Poor children are left to struggle in dismal institutions. Besides, the wealthy Americans have ways of rewarding themselves; they have reserved slots in the universities for their children. The piece notes that the government should come up with fiscal policies that benefit every citizen.
