Robert Reich does not believe that he is the best person to give financial advice. However, he strongly believes that happiness is not a result of wealth accumulation and strong financial condition. He recognizes that it is important to maintain the standard of living that is not going to be possible without finances, but moral worth and ethics cannot be bought. Reich has identified in several instances, that the wealth disparity in society is now an old phenomena. According to Reich, this started as early as the 1970’s, and over the years the situation has simply worsened. The average middle-class worker in the US economy is barely able to support the basic needs of his/her family. On the other hand, the top 10 percent of families are living a luxurious lifestyle (Suddath, 2013). This has brought about enmities and jealousy amongst peoples of the various classes in society.
The greatest danger in my opinion would be that stratification and wealth disparity would lead to increasing levels of crime. The lower classes would want to earn the luxuries enjoyed by the upper-classes. If these luxuries are not attainable through legal ways people would turn to illegal activities. This would create unrest and havoc in society, and eventually the society as a whole would be negatively impacted. People would be living in constant fear if crime rates get out of control and violence rises exponentially. The police force would have to become attentive and proactive and this is not a sign of a health society.
Progress in society would bring about greater job opportunities if a greater number of people get formal education. A higher literacy rate would mean more awareness of social issues. If people are consciously aware of their exploitation they would make an effort to fight this dilemma and improve their status in society. A progressive society would be based majorly on merit. People would get a fair chance to improve their living standards; hence, stratification would not be prominent. Wealth disparity may be minimized over time, as the newer generations would get an equal and fair opportunity in society. Thus, we can conclude that if a society progresses with time stratification and wealth disparity can be reduced alongside.
Works Cited
Suddath, Claire. "Review: Inequality for All, Robert Reich's Analysis of Wealth Disparity." Bloomberg Business Week. Bloomberg, 26 Sept. 2013. Web. 27 Mar. 2014. <http://www.businessweek.com/articles/2013-09-26/review-inequality-for-all-robert-reichs-analysis-of-wealth-disparity>.
