Summary Of Inequality For All

In Inequality For All, former U.S. Secretary of Labor, Robert Reich, discusses the allocation of money that flows into America and how significant it is to make people conscious about what is happening. The documentary starts out with Reich states that inequality is unavoidable towards select groups yet people still work hard, innovate, and strive solely on incentives that helps keep them motivated. He then describes that it’s essentially what capitalism is and in this class, it’s how markets can prevail and not fail as it is one of the major principles of economics. There were other examples of the principles of economics of economics that were shown in the documentary. For example, Erika who works at Costco not only thinks at the margin but struggles with trade-offs, only considering what is most beneficial for her and her family with what little income they have after bills.
Then there’s something similar to the principles of economics that Reich discusses which would be the rules that helps maintain a free market economy. He states that the rules are created by government which helps the economy function. With an ever-growing economy, however, comes a need to renovate rules when needed. For example,
Personally, I still live with my parents working with a minimum wage job bringing in $15,000 where a lot of my income goes to my family. To know that someone in the middle class who makes more than $50,000 still struggles day by day makes the education that I am acquiring makes me feel a little more comfortable about my status yet it still represents so little compared to where everyone else is in terms of the economy. To learn that the big time CEO’s who so many people think are the job creators say that, in reality, the workers make up for the vast fortune they have obtained and that rather than having job creators in the world, the workers are the one who makes a firm