Multiple Perspectives on Adverse Effects and Solutions on Global Economic Crisis

Week 10 Assignment - Multiple Perspectives Reflexive Paper
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Week 10 Assignment - Multiple Perspectives Reflexive Paper
The author focuses on the adverse effects of the global economic crisis and the measures that can be implemented to address the issue. In particular, the article notes that the world is in an economy that works for the top 1%. That small segment of wealthy individuals has more wealth than the remaining 99% combined. The author indicates that power and privilege have been used to sew the economic system to widen the gap between the rich and poor (Oxfam International, 2016). Because of the negative implications of the increasing wealth gap, the article suggests various corrective measures. Some recommendations include paying workers a living wage, checking the influence of the elite, improving access to affordable medicine, fairly sharing the tax burden, and promoting equality for women. The author believes these measures are critical in creating opportunities for the poor to advance while making the wealthy pay their fair share of taxes.
To a large extent, my perspective merges with that of the author. I believe it is crucial to find solutions to some of the global community's challenges, including wealth distribution. It is worrying how society has allowed 1% of the population to control more resources than the rest combined. Since wealth inequality has increased, I share the author’s perspective that this needs to change. While I do not harbor any resentment against the wealthy members, I believe wealth should be accumulated to benefit all society’s members. However, while there is nothing wrong with being wealthy, I find the article critical in addressing an issue worth examining.
I agree with the article that the gap between the rich and poor is increasing at an alarming rate. The wealthiest 1% having more wealth than the rest of the world’s population, needs immediate attention. The author is correct that growing economic inequality harms soc...