It would be nice if modesty prevented me from saying that my household income is much higher than the median Indian household income. A lot of you white people out there are pulling down the average. Read more →
EppsNet Archive: Income Inequality
Equality vs. Freedom
The finest opportunity ever given to the world was thrown away because the passion for equality made vain the hope for freedom. — Lord Acton Formal equality before the law is in conflict, and in fact incompatible, with any activity of the government deliberately aiming at material or substantive equality of different people, and any policy aiming directly at a substantive ideal of distributive justice must lead to the destruction of the Rule of Law. To produce the same result for different people, it is necessary to treat them differently. To give different people the same objective opportunities is not to give them the same subjective chance. It cannot be denied that the Rule of Law produces economic inequality — all that can be claimed for it is that this inequality is not designed to affect particular people in a particular way. It is very significant and characteristic that socialists… Read more →
If Balboa Could Find the Pacific Ocean, Why Can’t You?
I mentioned in class today that 30 percent of Americans age 18 to 24 cannot find the Pacific Ocean on a map . . . (This was in the context of income diversity — or “income inequality,” take your pick — i.e., I can’t find the Pacific Ocean on a map but I’d like to be paid the same as a Harvard MBA.) Students absolutely could not believe this so I Googled the link to this National Geographic article. Not only was I proved correct on my Pacific Ocean assertion, 58 percent of respondents could not find Japan on a map, 65 percent couldn’t find France, 69 percent couldn’t find the United Kingdom, and 11 percent could not find the United States. The survey is a bit old now — it was taken in 2002 — but if anything, I’m sure the current situation is worse. If my kid could… Read more →
10 Reasons That NY Times Chart Might Not Mean What You Think It Means
From the New York Times: Money is not the only metric for measuring life outcomes. Charts and articles like this seem to reflect an inappropriate obsession with narrowly materialist values. If you do want to measure your life with money, it looks like the 99th percentile is where you want to be. Why aren’t you there? Why aren’t you a CEO? Why aren’t you making a million a year? If you can’t figure out how to get there, don’t begrudge the people who did figure it out. If you don’t have the education, motivation, intelligence or skills to get there, don’t begrudge those who do. The amount of wealth is not a fixed amount. It’s not a zero-sum game. If it were, it would be concerning that a few people are very wealthy. But it isn’t. The distribution of income has to be skewed to the right because income is… Read more →
Income Inequality Explained
I saw this sign at a gas station soda fountain . . . Read more →
Income Inequality Explained
Who Will Be America’s America?
And do not forget that nearly all of the countless 20th-century innovations and industries that made the rest of the developed world so efficient and comfortable came from America, and it wasn’t a coincidence. As long as Europe had America taking risks, investing ambitiously, and yes, being “inequal,” it had the luxury of benefiting from the results without making the same sacrifices. Who will be America’s America? — Garry Kasparov Read more →
Why Jennifer Lawrence Makes Less Than Bradley Cooper
Jennifer Lawrence is complaining (Why Do I Make Less Than My Male Co-Stars?) that she and American Hustle co-star Amy Adams received 7 percent of the profits for the film, while male actors Bradley Cooper and Christian Bale and director David Russell received 9 percent. The only explanation I can think of for this inequity is that Jennifer Lawrence and Amy Adams were willing to work for 7 percent. It doesn’t make sense to sign a deal for 7 percent and then complain that you didn’t get 9 percent. If you want 9, ask for 9. If it’s going to bother you to make less than a male co-star, ask for the same deal as the male co-star. Does Jennifer Lawrence have an agent? This doesn’t seem super complicated . . . Read more →
Income Inequality is the Best
I’ve Solved the Problem of Economic Inequality
Instead of “economic inequality,” let’s call it “economic diversity.” Then it’s a good thing, right? Read more →
The Person Who Says It Can’t Be Done Is Interrupted By The Person Doing It
In his latest book, The Price of Inequality, Columbia Professor and Nobel laureate Joseph Stiglitz examines the causes of income inequality and offers some remedies. In between, he reaches some startling conclusions, including that America is “no longer the land of opportunity” and “the ‘American dream’ is a myth.” — The ‘American Dream’ Is a Myth: Joseph Stiglitz on ‘The Price of Inequality’ “If there is anybody at all who has a dream, then they can definitely make it happen,” she told WBTV. “There are no excuses. It depends on you and no one else.” — Dawn Loggins: Homeless, Abandoned Teen Heads to Harvard – Yahoo! Shine The second link above goes to a story about Dawn Loggins, an 18-year-old girl from Lawndale, NC, who, after her mother and stepfather left the state without her and she was dropped by her grandmother at a local homeless shelter, “just made a… Read more →