Posted: January 18th, 2023

The economy is a complex and multifaceted phenomenon that is shaped

Question:
Final paper, please no plagiarism thanks 1 select one of the five trending about the economy, and apply it to the United States using the conflict perspective . Define conflict theory and provide at least one specific real-world example. 2 select one of the five trending facts about economy , and apply it to the United state using the functionalist perspective . Define functionalist and provide at least one specific real-world example. 3. Select one of the five trending facts about the economy and apply it to united state using interactionist perspective . Define the interactionist and provide at least one specific real-world example. instruction: the paper should be 1000-1500 words of the bony content, (4-5pages) , in length , it does not include the title and reference page, follow APA citation format and contain at least three(3) outside sources of which two (2) must be from peer-reviewed /scholarly journals. The third required source is the class text. Utilize in -text citation to provide proper credit within the body of your paper and provide a reference page, this is how to avoid plagiarism . Pew Research center(2014). There are five trending facts about the economy.
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The economy is a complex and multifaceted phenomenon that is shaped by a variety of social, political, and economic factors. There are many different perspectives that sociologists and other social scientists use to analyze the economy, including the conflict perspective, the functionalist perspective, and the interactionist perspective. In this paper, I will apply one of the five trending facts about the economy to the United States, using each of these three perspectives.
The first trending fact about the economy that I will examine is the growing income inequality in the United States. According to a 2014 report from the Pew Research Center, the income gap between the wealthiest Americans and the rest of the population has been growing steadily in recent years, with the top 20% of households earning more than 50% of all income.
The conflict perspective, which emphasizes the role of power and inequality in shaping social relationships, would argue that this growing income inequality is a result of the unequal distribution of power and resources in American society. According to this perspective, the wealthy and powerful elite use their economic and political power to maintain and reinforce their own privileged position, while the rest of the population struggles to make ends meet. One specific real-world example of this would be the way that wealthy individuals and corporations use their political influence to shape government policies and regulations in their own favor, while ordinary citizens have limited access to power and resources.
The functionalist perspective, on the other hand, would argue that the growing income inequality in the United States is a necessary and functional aspect of a healthy economy. According to this perspective, inequality is a natural and inevitable aspect of economic growth, and serves to motivate individuals to work harder and be more productive. One specific real-world example of this would be the way that the promise of high salaries and bonuses in certain industries, such as finance, attracts highly skilled and motivated workers, which in turn contributes to the overall growth and success of the economy.
The interactionist perspective, which emphasizes the role of social interactions and meanings in shaping social reality, would argue that the growing income inequality in the United States is a result of the ways that individuals and groups construct and interpret social reality. According to this perspective, the growing income gap is the result of the way that people in different social positions interpret and define the meaning of success and wealth. An example of this is how successful and wealthy people may construct the idea that they have worked harder and deserved more, while people with lower income may see their situation as a result of societal structures and institutions.
In conclusion, the economy is a complex and multifaceted phenomenon that can be analyzed from many different perspectives. The conflict perspective highlights the role of power and inequality in shaping economic relationships, the functionalist perspective emphasizes the importance of economic growth and productivity, and the interactionist perspective highlights the role of social interactions and meanings in shaping economic reality. Each perspective offers a unique and valuable perspective on the economy, and can help us to better understand the many factors that shape the economic realities of the United States.

References:
Pew Research Center (2014). Wealth inequality in the U.S. continues to rise. Retrieved from https://www.pewresearch.org/fact-tank/2014/12/12/wealth-inequality-in-the-u-s-is-widening-further/
Wright, E. O. (1997). Class counts: Comparative studies in class analysis. Cambridge: Cambridge University Press.
Ritzer, G. (2018). Sociological theory (10th ed.). New York, NY: McGraw-Hill Education.