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Should Bill Gates Get Rich?

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After reading Wheelan’s argument, do you agree that Bill Gates should be so much richer than you? Explain why or why not. Wheelan argues that Bill Gates is rich because of his human capital, the sum of the total skills that an individual possess. Similar to the market for goods, some talents are in greater demand in the labor market. As a result, the price of a certain skill reflects the scarcity rather than its social value. In the example of Gates, he possess a set of skills that are scarce in the economy such as creativity and entrepreneurship that people would still hire Gates as a consultant or a CEO even without his wealth or profession. Due to Gates has human capital, he is productive since he can produce more goods while working less, which makes him rich. However, Wheelan’s …show more content…

Because Bill Gates was raised by a middle class family, he is more likely to have social mobility than someone who is born into a lower class family. Besides his socioeconomic statue, Bill Gates is a white man, an identity that Western societies value over other groups of people like black people, muslims, or women. Bill Gates has an unfair advantage over other individuals which contributes to his success besides his human capital. Because Wheelan fails to acknowledge other societal enablers of wealth, he demonstrates the American idea of meritocracy; Bill Gates is rewarded due to his scarce skill set that includes innovation and entrepreneurship. Those who are not rich as Bill Gates blame themselves for their shortcomings, limiting their awareness to a biased society.

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