Mohamed A. El-Erian wrote the article, Inequality: America's great destroyer, on January 29, 2014. It is published on cnn.com The increase in the gap between the rich and the poor of America is explained.
There are 3 kinds of inequality that are present in the US today. The inequalities of income, wealth, and opportunities. Not only are the people with more money making more money, they have even more opportunities to make money. The rich are becoming richer and the poor are becoming poorer. This unbalance is hurting overall economic growth and the creation of jobs.
This is one of the things Karl Marx feared about free market economies. He said that the rich will become richer and the poor will become poorer if the individuals of a nation were allowed to run the economy.
This is a problem in our economic system today and people should attempt to fix it. I do not think that we can solve this problem by taking money from the rich and giving it to the poor but we should make sure people have access to education. The poorer people also need to have opportunities to earn money though. If the rich get all the opportunities to earn money and the poor don't how can they become not as poor? The more people that have the opportunities to start gaining money for themselves the better our economy will grow.
