Inequality And Prosperity Summary

In the first chapter of Jonas Pontusson’s book Inequality and Prosperity: Social Europe vs Liberal America, he raises an important question regarding if we are caught in a situation in which governments can no longer do much to improve the economic prospect of low-income workers and their families. Although the answer to his question varies in different countries, it is clear that the U.S. government CAN improve the lives of low-income citizens, but it often neglects to do so. The United States is a capitalist driven country. However, its quest for economic prosperity has come at the expense of those unable to reach the standard income. As much as Ronald Reagan have proclaimed the U.S. as the poster-boy of democracy and economic prosperity, the reality today is that many people are still deprived from the “American dream.” Despite occasional turmoil, there is no denying that the U.S. government has done an amazing job maintaining its economy. However, the stability of its economy has always relied on big corporations, which is why

raises an important question of whether we should readdress what it means to be considered a developed nation. While economic growth has been the standard for many scholars measuring country’s development level, measuring the economic equality level will shed more light on what it truly means to be developed. Just because a nation has a large market does not mean that the citizens are enjoying the growth. There has to be a way to address issues on economic equality. My intention is not ridicule the U.S. government for its lack of effort; after all it is doing better than the average country. My concern is that many countries see the U.S. as their economic model. Therefore, the U.S. government cannot continue to neglect income inequality. If the U.S. is able to pass policies that seeks to improve the living condition of its low-income citizens, maybe then it can be considered the gold