Robert Reich Why The Rich Are Getting Richer

While reading the chapter “Why the Rich Are Getting Richer, and the Poor, Poorer” by Robert Reich in the book The Way Class Works: Readings on School, Family, and the Economy, I can agree with the facts stated as it reflects my own observations of our economy’s current state. Certainly, the gap between the rich and the poor is continuously growing, and the opportunities available to average workers in the job market are declining. Such reduction of possible job openings largely affects the younger generation in particular. Individuals, especially beginner workers, should be allowed to opt for high-salary jobs regardless of skill mismatch. I believe that in addition to having wide employment prospects, people must know how the economy works,
Even with a steady source of income, the price inflation of commodities and utilities are difficult for most people to follow. Opting for profit-driven career choices is acceptable, especially now, when the job market is tougher on younger workers. Being a student, I fully understand the need to have a stable job. Most of us incur debts even before we graduate from college, and these debts can be staggering enough that we will be paying it until we retire.
One of the primary reasons of the job market’s harshness for beginner employees is that older workers are protected by their seniority. For example, in the steelmaking industry, the invention of efficient machines led to cold-rolling mills closing down, and hundreds of routine workers experienced mass dismissals (Reich 409). Since entire plants can now be run with fewer staff members, employers choose to retain senior workers, while younger employees are the first to be fired. Being rendered jobless, these junior specialists will be forced to compete with new entrants in the already congested job