The Inequality Trap Fighting Capitalism Instead Of Poverty

As a society, we are inherently fascinated by trying to â€Å"fix† our world. Whether it be the environment, politics, human rights, gender equality, poverty, or medicine, there are individuals around the globe looking for ways to improve our society and those who are merely making suggestions on how to improve it. Published in 2015, William Watson’s book The Inequality Trap: Fighting Capitalism Instead of Poverty is full of analysis and suggestion on what humanity can do to create a more equal society. The book glides through a series of arguments that attempt to conclude that the issues of inequality in our society are brought about by capitalist venture and excessive wealth. Throughout the eight chapters, Watson keeps a reader interested†¦show more content†¦16), Sidney Crosby (p. 23), Bernard Madoff (p. 30), Jamie Dimon (p. 32) and Quang Dao (p. 38), Watson reasons through the morality of each individual case and then in the public. Watson argues that in th e cases such as Dao who won the lottery or even Steve Jobs, that â€Å"some people who make lots of money will be perfectly deserving of it. Others may not be. Because some inequality may be the result of unfairness doesn’t mean all inequality is.† (Watson, 2015, p.46). After using the economic principle of a Gini Coefficient and Lorenz Curve to show that in certain cases a decrease in inequality can be a detriment to society, Watson spends the entire next chapter expanding yet again that inequality can at times be beneficial to society. As Watson moves on to discuss more specific avenues of inequality such as poverty, education, and intergenerational income mobility (chapters six and seven), the analysis begins to turn against itself and circle back to similar arguments from a differing perspective. While this approach may be extensively detailed, by the end of chapter 6 the arguments begin to feel redundant and cyclical. Overall, Watson’s The Inequality Trap r emains as ambiguous as the title – never really settling on if it is a â€Å"trap† to avoid or a â€Å"trap† that we set for ourselves. Perhaps the strongest element of Watson’s book is its thoroughness. During each chapter, Watson goes into extensive detailed analysis. Even when theShow MoreRelatedPoverty Inequality Of The United States1984 Words   |  8 Pagesexchange for the larger share of money that they are getting for themselves. This has led to severe income, racial, and poverty inequality in the United States and creates an inequality trap because as the rich get wealthier, they favor policies that earn them more money and power at the expense of the low-income workers education and well-being. One cause of income inequality is the real value of the minimum wage has decreased 32% since 1968, it was $10.71 in 1968 and now it is $7.25. 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