PW9 - Another component to this article are the ideas of...

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Gar Alperovitz and Lew Daly authors of the article, “The Undeserving Rich” attempts to pinpoint why people are rich or become rich. They believe that economic output has increased because scientific, technical and cultural knowledge have grown. This expansion in the human’s areas of knowledge, therefore leads to inventions or breakthroughs. A breakthrough, according to Alperovitz and Daly, is inevitable and “we tend to give credit to the person who [gets the job done] first” (P.100). They go on to say that “breakthroughs occur not so much thanks to one ‘genius,’ but because of the longer historical unfolding of knowledge” (Alperovitz and Daly P.100), the past. A relevant example of this historical unfolding would be Facebook. This social network was not original because other networking sites came before it like Myspace and Friendster.
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Unformatted text preview: Another component to this article are the ideas of unearned and earned income. Unearned income correlates with ascription whereas earned ties in with achievement. An example of unearned income would be if a person inherits the family’s wealth. A person graduating college and landing their dream job would be an example of earned income. David Wessel’s article, “As the Rich-Poor Gap Widens,” on the other hand, focuses more on the ideas of mobility and the wide income gap. Also, Wessel’s article doesn’t solely center of America, but compares the United States to European countries as well as Canada. However, both Alperovitz/Daly and Wessel use the concepts of technology, globalization, unearned income and make references to the past....
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This note was uploaded on 11/14/2011 for the course ECON 01 taught by Professor Clairebattista during the Fall '10 term at Cal Poly.

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