Objective Summary: The Vicious Circle of Income Inequality

      In Robert H. Franks text, The Vicious Circle of Income Inequality, Frank discusses the income gap between the upper and lower class of the United States, and the affects this has taken upon society.  Frank starts his article by stating society's wealth is created by new interprise.  The creation of interpirse in the United States has enpowered a growth in the economy.  Society influences the creation of goods within the area. If most revenue is created from the "higher archy of society" goods will be desgined for these people. The middle and lower class's then suffer from this change making necessities less accessible.  The struggle for the these classes is not understood from the upper class, since they have not expierned it in daily life. Many politicains, legislators, and top earners come from the upper class.  Since these people are composed of upper classmen, they have a highly influencial affect on the conductivity of society. Top earners are more exsable to legislators then the middle and lower class. Because of this, they have a higher rate of influence within research orginzations and political affiars. The second topic Frank talks about is the competition for success in the United States. Today with new technologies it has become harder to be succesful within ones profession.  With improvments in trade, communication, and technology, many jobs have a small percentage of the top "elite" who are considered to be very succseful.  These elite groups, become smaller with higher and higher amounts of revenue; while middle and lower class people struggle to make ends meat against leading corporations. For example, Apple and Microsoft our leading corporations for the computure software. With only two main suppliers for the world people gravitate to the top companies. This creates a income gap for society. The head of these compines become imensely rich, where as all competion is engulfed in debt.  Many people aruge the income gap is based off of oppurtunity. The Author feels the wealty have a higher oppurtuntiy to be succsefull, with oppurnties that are not provided to the masses. Starting at a young age the upper class enrolls their childern in top ranking schools with prestigous acedemics, athletics, and extracurriculars. They can afford tutors and a numerous of other advantages to insure suscess in their childern.  Familes with tigheter incomes do not have this oppurtunity. Many childern coming from lower income backgrounds have to support themselves and help to support their families.  When collage comes around, going may be out of the question if they are not finalicaly alliagable. With this stated, these families have already fallen behind to improve their economic standing, increasing the gap between the rich and poor. Franks final point in the text talks about unless something is change, America's fincail gap will continue to grow.  A change is nessicary for differing results, otherwise the gap will only continue to become worse.

Frank, Robert H. "The Vicious Circle of Income Inequality."The New York Times.The New York Times, 11 Jan. 2014.Web.27 Feb. 2014.