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US quality of life - Essay Example

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The subprime mortgage crisis, the Great Depression, the economic predicament and the rise in oil and gas prices, all have made the quality of life of a common man in the U.S. suffer extremely. Studies regarding the socio-economic situation in the U.S. reveal the fact that U.S. has highly increasing rate of child poverty as compared to other rich countries (Champion). Although U.S. spends the greatest amount of money per person on healthcare services but yet life expectancy in U.S. is much lower. “The standard of living of U.S. working class is deteriorating rapidly” (Champion). This is because wealth is being amassed among a certain group of rich individuals while the workers are becoming poorer. U.S. capitalism and imperialism has been disastrous for many people. “The world banana crisis, unleashed by the European Union's decision to eliminate its quota system, had dramatic repercussions in the labour market” (Torres et al.). Thus, researchers suggest that the quality of life has gone from bad to worse in the last five years. The American Dream has not been realistic enough because it has focused on individual prospects rather than society as a whole, and thus has not been successful in improving the quality of life (Rifkin). The reason is that unlike Europe, America is trying to follow the old era’s customs rather than embracing the new ones (Rifkin).

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Summary

The subprime mortgage crisis,the Great Depression,the economic predicament and the rise in oil and gas prices,all have made the quality of life of a common man in the U.S. suffer extremely.Studies regarding the socio-economic situation in the U.S.reveal the fact that U.S. has highly increasing rate of child poverty as compared to other rich countries …
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