Political Polarization Essay

Capitalism has brought unprecedented levels of growth; accompanied with it has been rising levels of inequality. In this age of globalization, both business and political models have shifted their focus to conform to the multifaceted issues that have defined the 21st century. It is through further examination that we can see the underlying factors that have contributed to rising economic inequality, and how society and government have approached this polarizing issue. The purpose of this essay is to analyze the political, social, and economic responses to growing inequality. It is important to acknowledge the negative implications that inequality poses in our economic and social institutions. In order to ensure poverty reduction, policy intervention is critical. As described in Rithmire and Rotemberg's case "Business and Politics in the Age of Inequality" political polarization has shifted along side income inequality. This notion would become obvious during the Great Recession. The global financial crisis was a major factor that has led to the current political polarization. Widespread unemployment ravaged many sectors, and the housing bubble led to millions of foreclosures. In addition, individuals on the lower spectrum of income distribution
One movement in particular was Occupy Wall Street that had voiced their opinions about the role of government in society. The Occupy Movement took a distinct disposition towards social issues, such as economic inequality. With their famous slogan, "We are the 99%", protesters sought to bring awareness to the growing issue of income inequality, and Wall Street's role in the financial crisis. It is through discontent over the political and economic climate that this movement was able to spread. As long as tensions exist both in the economic and political realms, social movements will transpire to hold those in power