Inequality and the American Dream

In this article written by the European Magazine "The Economist" the author discusses the downfalls of the American Economic System. The introduction of the article shows that American business is performing well and profits are fat. The author then goes to show that while businesses on the whole are doing well, the gap between the rich and the poor is growing very fast. This is effectively "squeezing" the middle class as he calls it. Apparently data processing and accounting jobs which are "white collar" jobs are being outsourced. I have no heard much new of accounting jobs being outsourced but we will continue on with article. Apparently the poorest of jobs are incapable of being outsourced (cleaning and table waiting). I think that these jobs are under the fire of immigration from peoples outside the U.S. entering to work. Obviously these jobs cannot be outsourced and this is a gap in the author's logic.

The author is right though when it comes to his idea of social mobility in the economic system. I believe that the first and second conditions which allow for inequality are true where the third is faulty. 1.) society as a whole is getting richer - true
2.) there is a safety-net for the very poor - true
3.) everybody regardless of race, class, creed, or sex, has an opportunity to climb up through the system - false
Because local and public schools are funded by locally based funds. It does not take a brilliant economist to realize that schools in poor districts will not have adequate funds to operate a successful school. Also, the political relationships between labor unions and political parties create more of an unequal opportunity to allow for social mobility. This education system is the most important aspect and must be fixed for there to be true gaps in inequality. Where poor underprivileged students can still get the same type of education that middle and upper class students take for granted.