Essay about Why the Rich are Getting Richer and the Poor,...

The report of Robert Reich: â€Å"Why the Rich are getting Richer and the Poor, Poorer,† is an eye opener and a warning for society regarding unemployment that it will be facing and is currently facing due to a lack of technology and education. It clearly articulates that the jobs of routine producers and in-person servers have vanished totally as modern techniques have replaced them. The author has stated that the only people whose jobs are on the rise are symbol analysts. As stated in the report, symbol analysts are the real problem solvers. Their skills are highly in demand worldwide because they are the ones who first analyze the problem and then solve it. The Hart Report, on the other hand, also states the same problem of unemployment†¦show more content†¦The impact of technological advancement and the whole world â€Å"going global† is immense. ATT stopped hiring workers in Shreveport and switched to Singapore and later from Singapore to Thailand because of the cheap routine producers available there as compared to the ones in previous locations. Moreover, an important reason for the decline of routine producers is the rise in the number of Keypunch operators all over the world and their willingness to work at much lower wage rates than the ones prevailing in the U.S.A. Texas Instruments started hiring routine programming technicians in India and linked them to its Dallas headquarters via satellite as India has a large English-speaking population of technicians who are willing to work at a lower wage rate. The reason behind this shift of jobs from advanced to developing nations, which created a great recession in the advanced economies, was the globalization and advancement of technology. This advancement made the employers remain in contact with the whole world with the help of some optical wires and satellites and they started hiring workers who were ready to work for a lower wage. A similar drastic change came about in the employ ment sector of the in–person servers as well. Introduction of new labor-saving machinery such as automated tellers, robotized vendingShow MoreRelatedWhy The Rich Are Getting Richer And The Poor, Poorer924 Words   |  4 PagesAs a Symbolic Analyst In the book by Jacobus, A World of Ideas, Robert Reich writes the article, â€Å"Why the Rich are Getting Richer and the Poor, Poorer†, and he uses a metaphor to describe the three economic groups that are now in different boats. He compares how the routine producers’ boats and the in-person servers boats are sinking while the symbolic analyst is rising. He also discusses how immigration, and technology competes for the job of routine producers and in-person servers whileRead MoreWhy The Rich Are Getting Richer And The Poor, Poorer925 Words   |  4 PagesAs a Symbolic Analyst In the book by Jacobus, A World of Ideas, Robert Reich writes the article, â€Å"Why the Rich are Getting Richer and the Poor, Poorer†, and he uses a metaphor to describe the three economic groups that are now in different boats. He compares how the routine producers’ boats and the in-person servers boats are sinking while the symbolic analyst is rising. He also discusses how immigration, and technology competes for the job of routine producers and in-person servers whileRead MoreWhy the Rich Are Getting Richer and the Poor, Poorer842 Words   |  3 Pagesï » ¿Robert B. Reich, Why the Rich Are Getting Richer and the Poor, Poorer Reich starts his exordium with a distribution of where American workers found themselves in the early 1990’s in reference to where almost all American workers were just 20 years before. Reich placed most of the workers that contributed to the economy during the Nixon administration as being in one boat, analogous to the famous quote by G.K. Chesterton, â€Å"We are all in the same boat, in a stormy sea, and we owe each other a terribleRead MoreWhy The Rich Are Getting Richer And The Poor, Poorer927 Words   |  4 Pageshave to establish new tactics and enhance their emphasis on customer service in order to entice enough customers to purchase from their stores. Thus decreasing the need for retail sales positions. Robert Reich, in his article â€Å"Why the Rich Are Getting Richer and the Poor, Poorer†, also felt this was the case when describing the sinking of his figurative second boat carrying in-person servers. Reich speaks directly about the changes machinery would have on this particular field of work in his article:Read MorePoor Getting Richer Essay995 Words   |  4 PagesAre The Rich Getting Richer and The Poor Getting Poorer? In this world, who are born rich or who are born poor? Nobody. Once, Bill Gates said that if you born poor, it is not your mistake, but if you die poor, it is your mistake. Rich is a state of abundant possession most especially material wealth, while poor is a state of lack of material possession. In the Wall Street Journal , Josh Zumbrun states that there is no standard definition of the upper middle class, which means there is no particularRead MoreEssay on Why the Rich Get Richer, While the Poor Get Poorer1572 Words   |  7 Pageseconomic times, it is clear to see that the rift between the extremely rich and the extremely poor is expanding, with those in the middle being stretched to one extreme or the other. There seems to be no reconciliations for this ever-growing disparity, as the corporations that used to comprise solely our economy lose national borders. Robert B. Reich discussed this issue in his work, Why the Rich Are Getting Richer and the Poor, Poorer. There are many reasons that go into play and many factors that swayRead MoreThe Poor Are Getting Poorer1218 Words   |  5 PagesThe Poor Are Getting Poorer (In Analysts: Why the Poor Are Poorer) â€Å"Thus have the inhibitions been removed. The salaries and benefits of America’s top executives, and many of their advisers and consultants, have soared to what years before would have been unimaginable heights, even as those of other Americans have declined.† (Page 267). America is increasing in certain things, but decreasing in other things. Citizens are able to achieve more and more as technology increases and people strive forRead MoreEffects of Outsourcing Jobs to Overseas641 Words   |  3 Pagessurvive this dreadful and unpleasant situation. More importantly, the reduction in spending money and the deterioration of consumer confidence can hurt the economy severely and exacerbate the situation. Reich in his article â€Å"Why Rich are Getting Richer and the Poor, Poorer† divides the U.S. professions into three major categories: routine producers, in-person servers and symbolic analysts and described the process and likelihood of outsourcing these professions. Routine producers such as manufacturersRead MoreGlobalization758 Words   |  4 PagesWhy richer are getting richer and poorer are getting poorer? Globalization is taken as facilitator of international trade and economic growth. There might be various parameters for the measurement of the connection between globalization, international trade and economic growth that is derived from the mobility of investment, human capital to communication and transportation that fosters interdependency and other forms of economically beneficial and social relationship between countries. In economyRead MoreGlobalization743 Words   |  3 PagesWhy richer are getting richer and poorer are getting poorer? Globalization is taken as facilitator of international trade and economic growth. There might be various parameters for the measurement of the connection between globalization, international trade and economic growth that is derived from the mobility of investment, human capital to communication and transportation that fosters interdependency and other forms of economically beneficial and social relationship between countries. In economy