The Real Life Monopoly In Today's Economy

The Real Life Monopoly

People say money makes the world go round. This phrase seems to sadly be true in today's economy. It is being run by CEOs, and the upper class society that seems to find tricks in every nook and cranny they can get. Even popular childhood games like monopoly force us into playing into income inequality. This is a serious ongoing issue that is affecting the lives of many citizens trying to live the "American dream". Understanding how to manage your money, tax theory, and how the system works is essential to know in order to dominate in today's society for American's prosperity. A well known game called Monopoly was created to explain tax theory. Having knowledge about taxes and how the economy works helps you dominate

(OECD organization for economic Co-operation and development), the average income of the richest 10% of the population was approximately 9 times that of the poorest 10% compared to the global economic crisis. "Across most OECD countries, the income gap between the rich and the poor has widened over the past three decades". OECD(2012) A sad but true circumstance is that a child’s future economic standing is often closely related to the income level of his or her parents. Socio-economic background depends highly on this suggesting that its background plays a strong role in the development of children’s skills and abilities , and in lower income countries that may affect their future. There are some education policies that focus on equity that can help reduce economic downfalls in the future. "OECD research has shown that a more equitable distribution of educational opportunities typically results in a more equitable distribution of labor income in countries. It’s also clear that people with higher levels of education have a large competitive advantage in the labor market, both in good and bad economic periods". This helps secure jobs, and higher earnings for future individuals, helping decrease inequality over time. For example, this graph shows the statistics of income inequality in different parts of the world. United States has the most income inequality than

One big issue is excessive quantity, this means you were born into a rich family, and includes millionaires and billionaires. The incentive to excel is destroyed due to the abuse from the rich. Economies allocate income and wealth, which creates winners and losers. This is understandable because that is what economies do. The challenge to this "game" is finding the right balance."The winners take a large chunk out of the economic pie that common workers are left with crumbs". Blessington (2016) Lives are being dominated by financial struggles due to lack of education and by their economic status coming into this world. "Statistics from Income inequality has reached epic proportions. Increased 24% from 1968 to 2012". Blessington (2016) The economic pie is not divided fairly in today's society. The true question is what created this large issue, the answers are very interesting. It goes back to when I mentioned about the lobbyist, they are the ones who help businesses gain special advantages. It is said in the article that "if we have excessive inequality, it's because our economic rules allow or encourage it.'' Blessington (2016). Rules must be changed in order for there to be a change in our economy suffering from income inequality. It is all about winners and losers, the winners are those born into money and the loser are those who work and are middle