financial crisis paper1_Essay - DSOC 1101 Inequality and...

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DSOC 1101 Inequality and the Financial Crisis Rising inequality is one of the direct causes of this current world financial crisis. The rich took advantage of the knowledge gap, and profited on the naiveté of the lower classes. The government, which is supposed to help those in need, failed to do so. Te policy makers instead gave more relief to the banks and the richest people in society, rewarding the villains for the problems they have created. To examine the correlation between the crisis and the rising inequality, it is first necessary to look at the evolution of inequality. There has always been and will always be a disparity between the rich and poor, however there was a huge jump in inequality during the quantum revolution which gave birth to a new type of capitalism, Information Capitalism. This created a competition for knowledge, putting a market price on information. Furthermore, it brought about a new class of workers, called speculators, who examine the profitability of things such as technology, energy, food, and most
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financial crisis paper1_Essay - DSOC 1101 Inequality and...

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