Social problems are abundant in the world today. From civil wars, to immigration, to racism there are a wide variety out there. However, the biggest problem in my opinion is the income inequality throughout the world. I don’t know any exact stats but I know that the top 1% of the worlds richest people own roughly 50% of the worlds money. This is a problem, being someone who grew up without any real financial concerns I never saw how exactly it effected the world. Once I got to Bucknell I realized that compared to some of the people here, what I grew up with wasn’t a lot of money. Now the kids here didn’t do anything wrong and I am not judging anyone by any means. I am simply implying that this is a problem that neither I nor many people at Bucknell have experience with.
The income gap is something that is bound to happen when there is a financial system like capitalism set up, similar to most of the world. The only places this gap didn’t happen were communist countries and those were so taboo at the time that nobody took the time to see if there were any positives to a communist system. I know writing this would have gotten me sent to prison about 50 years ago but hopefully I won’t get arrested anytime soon for it. Is there any non-governmental solution to this income gap problem? Or is it just the system that we have implemented for years? I don’t know that a problem as large as the income gap could be solved by businesses but here is my shot at it.
In order to fix this ever widening gap, the higher ups need to be paid less and the rest need to be paid more. It has to be a significant amount as well. As communist as this proposal sounds I still believe there should be a difference between the CEO and the cashier. I believe that good competition, either inside the company or out, will improve any business. I think that these CEO’s get paid excessive amounts of money. Convincing these CEO’s to give up their paycheck for the greater good of the world is a completely different story. Whoever would propose this idea would also be strongly considered a socialist and probably get the idea shot down before they could even get in the door, but other than that minor problem I think it would work great. I don’t know that this is what it takes to fix a problem that is as large as the income gap but it would definitely be a start.
Photo cred: Dave Granlund