This week and next week we are reading The Iron Heel, which talks a lot about economic classes and class antogonism.
What are classes? Basically, economic classes break down like this:
Workers own little to nothing but their ability to do manual labor, which they sale for a wage--hence, workers are sometimes called "wage slaves." Workers then take that wage and spend it on consumer goods that they just made at the factory.
The capitalist class do not labor for a living -- they do not sale their labor for a wage. Rather, they may be working wealthy -- maybe they own the machines and factories ("the means of production") in which workers labor each day for a modest wage and they own the stores in which laborers purchase their goods. Or capitalists could be part of the idle rich -- meaning they don't work for their money. Usually, their money is held in the form of investments and they make income from the dividends paid to them by the various companies.
Middle class folks sit somewhere in between the workers and the capitalists. They probably own a nice home and they may own a small business, but they probably work there each day alongside their employees, or they may be middle managers who earn a good salary but are not wealthy.
In America, the number of poor people is increasing. The middle class is getting smaller as more people fall from middle to working class.
Workers and the shrinking middle class in America work more with fewer days of leave, less maternity leave, and fewer days of paid vacation compared to others around the world. Click on these images for a better picture of the emerging situation in the US:
At the same time, the wealthy are fewer and getting richer. CEO pay keeps going up while worker pay stays about the same.
The gap between the wealthy and the working class is getting bigger -- while many citizens keep imagining that it is not, as this video shows:
Some people, however, see an increasing conflict between the classes -- as these graphs from Pew Research show.
What do you think? Are there classes in America? Is the gap between the classes too large -- is there too much inequality? If you think that gap is too large, what should be done to close the gap between the wealthiest and the poorest? Or, is the gap between the wealthy and the poor just about right? Should our policies aim to keep the wealthy wealthy and the poor poor? Are there any potential political problems of high levels of inequality?