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Free «Rising Inequality Will Mean Less Wealth for Everyone» Essay Sample

The article, ‘Rising Inequality Will Mean Less Wealth for Everyone’, by The Money Week chief editor Merryn Somerset Webb was posted on Mar 11, 2013 on www.moneyweek.com. The article discussed in details about the rising wealth globally. MattRidley who happens to be The Rational Optimist author suggests  simply that it won’t take long before the extreme poverty gets eradicated. This he says was based on the projections that were current, stating that no one will be surviving on less than one dollar a day. Ridley produced a brilliant graph as an example of how rich human beings have become. This was done by checking the cost of light in an hour. Ridley argued this by asking a question on the amount of money one would spend in order to purchase artificial light that could be used to read later at some points in the history of the United States. According to Ridley, in 1870 it was around 15 minutes, which reduced to 8 seconds by 1950 to half a second later in 1997.The graph which is appealing the most is of the income inequality. Looking at it in a global measure, the whole world is becoming an equal place due to the disappearance of extreme poverty. This happens to be some good news to every level. This is more since some researches shows increasingly that the progress moves a bit fast when wealth gets well distributed. The article looks at a book by Eric Jones and Charles Foster which touches on the same theme. The authors traces the economic and social conditions of four societies that had cotton industries, and looked at how these four countries were good and successful at how they generated their wealth. According to the article, when people generate their wealth equally, the possibility of the country’s wealth to increase is high.

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The article, Panic, by Bill Bonner was posted on Mar 01, 2013 on www.moneyweek.com  The article talks about the dropping value of market in the US. First of all according to the article, the houses in the region seem to be in a quite real recovery. Businessmen complain about the way the value of the house has worsened in Delray since there are many purchasers in the current market. When the Budget Control Act of 2011 was passed by the congress, it actually started in on 1 March 2013. This according to the article was when the sequester, dreaded by everyone was about to happen. The US government budgets were to be cut automatically, cutting off the demand for some public services as well as private. According to the press and government, the sequester will definitely be the life end since the feds won’t have enough money for the basic needs that could help in maintaining the civilized life. The article says that after the given date the borders would open and the terrorist will attack Washington DC. The said sequester minimizes the demand the federal government have. This helps in cutting down the government burden that helps in reducing taxes and minimizing the spending of the government. Leading economists believe that sequester usually means having less demand and demand is bad. This brings some panic since the rising prices mislead the investors who see their investment going up and their income gradually increasing. This can make them spend more and hence the demand increases. Spending does not help in making a good and healthy economy, but saving does. Demand happen when one gets a saving and investment result. However, when one tries to push the demand up without adding any wealth, they just waste their time, which leads to panics over the economy. This shows that with the unnecessary spending without saving, the economy would get worse.

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The article, To Rethink Government, Start Close to Home, by Robert H. Frank was published on December 10, 2011 on www.nytimes.comthe .The article talks about how people complain about the slow services offered by the government, some economic theories say that the free markets can render the government magically in an unnecessary manner. But this according to the article is the experiences that the American citizens have experienced in the government offices. Most people complain of the long lines and also the rude services that are offered at D.M.V offices in the whole country. When people experience bad services from the government offices, they consider the government to be the problem but not as the solution. Some people consider the government as the only body that can solve these issues, but according to the author of the article, one can help in making the government give better services. A good example in the article is Ms. Valenti, who was given an office in the D.M.V. She says that things were at first messy when she took over where patients could wait in line for a long time so as their forms could be processed. She discovered this as a technological issue where she spoke with the authorities to have that rectified. This saw the services improve. She also trained the employees on how to handle the clients who increased the morale of the employees and the clients. This has led to the people around New York noting the improvement in their offices while the rest of the country still detests their colleagues and their local offices. People should know that they cannot do without the government, thus they should try and make it the most effective one they can ever have. The author of the article says that any success requires a lot of focus and also hard work, which requires the public servants to be competent and more dedicated.

 
 
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In the article,In This Oil Boomtown, Workers With No Experience Are Making $120,000 A Year by author Robert Johnson was posted on March 09, 2012 on www.bussinessinsider.com The author says that when he went to cover the oil boom for Business Insider in Williston, North Dakota, he expected to find people working extra hard in conditions that were quite harsh and brutal but making a lot of money. He says that he wasn’t disappointed. The author says that people in Williston perform any kind of job, but the wire line department was more productive than the rest. People in the area earn as much as $80,000 to $100,000 a year. The wire line operator in the area can start at around $120,000 an year to around $200,000. The workers in the region can at some times face very brutal working conditions. In all the positions, workers usually put up in very long hours, but the workers who work in the wire line can have a privilege of working in quite a warm truck that is fill with big computer screens and other monitoring equipment .However, the main reason according to the article that the pay is so good is determinations the workers put. They at times work until they are through with the job, regardless of the time they will take. Working overtime helps in increasing their pay. According to the author, the qualifications needed in his job are very minimal. He says that the work at times can be very demanding and with some risks. The conditions of the job may be trying and at times the hours long and that’s why it pays better. This shows that if there can be a poor person living in the area, it may be because he is either ill or definitely lazy. This has seen some people from America drive to Williston to find jobs claiming one cannot just make it with a normal job. In the region, if one has a pulse, he gets a job.

In the article, Timing the Stock Market Should Set off Your Alarm, by Walt Bettinger on March 6, 2013 posted on www.marketwatch.com, the author focuses on the San Francisco market watch, asking whether it is time to get in or out of the market. This according to the author is a question that is asked by many clients, but personally he considers this to be the wrong question. According to the article, these kinds of market environments that have low rates and have mixed signals economically at times makes the investors’ confidence erode. The investors on the other hand sees  the broad market indices at new high as their peers move right back into stocks, the exchange traded funds and the stock mutual funds. A lot of investors have less time and interest to be active in their portfolios, less the attention and time it would require to market. The author says that time the stock market is not everything. He goes on to give different and simpler approach that applies in bear and bull markets. One of the approaches is to identify the goals you have. Answering these kinds of questions are better ways for one to determine how and when to make investment. The article says that how soon one can anticipate the needing of his assets can determine the amount of risks that he can take in the stock market, this also determines whether one needs to make short term movements in and out of the investments. The second approach is for one to make a plan. The investors that usually plan ahead have better retirements. Another approach is for one to update and rebalance. The author says that even the well diversified and allocated plans can be of too much risk and lose the recovery potential if they are not balanced periodically. For one to have better stock returns, they should update their stock market since the markets are volatile and are often subjects to the investing herds that are whims.

   

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