In the United States, economic inequality has increased in recent decades. Anyone who has looked at the data on this issue knows that the increase has been caused primarily by the distancing of the rich from everyone else in America. The richest 10% of our citizens now own 70% of our wealth. In fact, the two richest men in the United States (Jeff Bezos and Bill Gates) currently own more wealth than the bottom 50% of our population collectively own (or about 163 million people). Whether you look at trends in wages, wealth, or income, it is clear that the ultra-rich have been the breadwinners for the past four decades, and these trends have only recently accelerated. We say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Economic inequality leads to inequalities in wealth and income that result in a variety of health and social problems and often create barriers to the adoption of pro-environmental policies and behaviors. These inequities tear at the social fabric of our nation, promote polarization, and prevent some communities and individuals from thriving. In addition to the impact on public health and social behavior, greater economic equality is also linked to economic progress and stability. Economic inequality is strongly correlated with shorter periods of economic expansion and lower growth in the long run. It has also been shown to cause more frequent and severe boom-and-bust cycles, which makes an economy more volatile and vulnerable to crises. While some critics may be quick to point to national GDP as an indicator of positive economic growth, this rate itself no longer tells us how much better off or worse off individuals are at different points in the income distribution. Economic inequality is indeed positive for the future incomes of the rich, because they become even richer, but it could be negative for the future incomes of the poor because they only fall further behind. So when we say GDP is growing at 3% per year, it just means that overall income has increased by that rate, not that everyone across the board is increasing at that rate. Economic inequality also leads to lower educational achievement among the poor, who in turn are excluded from meaningful jobs and meaningful contributions they could make to their own well-being or the betterment of society. Excluding a certain group of people from a good education, whether because of their insufficient income, their gender or their race, can never be good for the economy. Excluding these people from full participation in our economy is a matter of both fairness and justice. The lack of intergenerational mobility is the main result of this exclusion; Relatively poor people are unable to provide their children with a fraction of the benefits, from inheritance to education to social capital, that the rich provide their offspring. This allows inequality to persist across generations, which in turn means that opportunities for families at the top of the pyramid are very different from those at the bottom. We have two harmful factors operating simultaneously: the negative effect that this exclusion has on economic growth and, on the other hand, the lack of equal opportunities caused by this exclusion that is passed down through generations. Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay Last but not least, the.