Current Observers Note That the Gap Between Rich and Poor

question 10

Essay

Current observers note that the gap between rich and poor is growing faster than at any time in our history. As this gap widens, what are the implications for an already diverse culture. Are minorities going to be able to have sufficient access to wealth to permit continued social cohesion? What policies might avert this crisis, and what are the potential breaking points in the social order as the gap widens?

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Definitions:

Value-based Pricing

Pricing strategy where the price is based on the perceived value of a product or service to the customer rather than the cost of production.

Industrial Grinder

A machine tool used in manufacturing for grinding, which is a process of removing material using abrasion.

Preventive Maintenance

Routine maintenance and servicing of equipment to prevent unexpected breakdowns and failures.

Useful Life

The estimated duration a fixed asset is expected to be economically usable, with normal maintenance, for the purpose it was acquired or constructed.