If an Upper class individual has 1 million dollars to spare and puts it in a CD at 4% interest, $40,000 dollars a year is made off of the interest, no social contribution. However, If a a Lower class individual takes out loans to buy a car or a home,they are paying in interest in which in abstraction is going to pay that millionaire with the 4% CD This stealing from the poor to pay the rich is a foundational built in aspect of the monetary system and can be labeled Structural Classism Historically, social stratification has always been deemed unfair but accepted as 1% of population owns 40% of the planets wealth but
Posted on: Thu, 02 Oct 2014 16:55:00 +0000