After watching both the videos on wealth inequality in America, it showed me how unequally distributed wealth in America is. I always heard about the top 10% and thought that there was a “middle class” but these videos shocked me. I would have never known that the top 1% owns 40% of the nations wealth where as the bottom 40% owns .3% of the nations wealth. The wealth inequality is outrageous and it’s even worse that the people they interviewed on the David Letterman show and the 5,000 Americans the Harvard professor surveyed don’t even know how unequal the countries wealth is distributed and think they are in this ideal economy that consists of somewhat of a more spread out wealth between all the classes. But even if more people understood the inequality of wealth in America, would it change?
This video can be related to Karl Marx’s capitalist system of commodity. As the capitalist pays the worker to create commodities and obtain a surplus value (M-C-M) the worker will work to obtain money to buy commodities (C-M-C). This explains how the capitalist obtains most of the money as shown in the videos while the worker only has a small percentage of wealth.