book

The Importance of Wealth

21 Pages 817 Words 1557 Views

With the increase of class-based inequality and the advantage gap between the wealthy and the poor, family wealth and background has become the major factor in determining children's educational success and futures. For instance, the comparison of young adults from different social class families is shown in the article, "The Wealthy Kids Are All Right." This article explains the differences in their future career and life trajectories due to different family backgrounds. The wealthy kids get a bigger head start as affluent families boost their children's prospects starting at birth, "which includes financial investments, school readiness, college access, and aiding the transition to work" (Collins). With the head start, rich kids are more likely to get high paying jobs and maintain high achievement in future careers. The wealthier children receive better education and more opportunities than other poor and average income children, resulting in "wide disparities in income and wealth" (Collins). Evan Thomas Spiegel, the founder of the mobile application Snapchat, rejected a 3 billion acquisition offer from Facebook (Carlson) because he is already rich twice over. His family wealth has "brought him a relatively rich-free chance to spend the rest of his life running a global technology company for the rest of his life" (Carlson). If he were not from a wealthy family, he would not be able to make such decision. He receives benefits and privileges of having a life that no common people could get, and his family wealth gives him an opportunity to earn fame and riches. Money is becoming more and more important in our society as people believe that it can make their lives better. However, it also has harmful effects not only on one's own life but also on society as a whole. Wealth sometimes helps keep people on track and stay out of trouble, but can bring negative impacts for young adults. A wealthy Texas 16 year old, Ethan Couch,

Read Full Essay