Main Points of this Article
2.) Summary of the Main Points of the Discussion
3.) List of Articles Latino Economist (L.E) will Use for Research
4.) List of Books and Authors L.E. will Use for Research on the topic.
Summary of the Main Points of the discussion Question:
1. Is it a bad thing to have current levels of income inequality within our country?
2. What constitutes income inequality?
3. What is your definition of wealthy, poor, and middle class?
4. How could income inequality be corrected (if possible) if it is a problem?
5. What message do we need to get to the wealthy and the poor of this country?
There is a lot of data that people can find on this topic.
Discussion Topic 2: Income Inequality
No research on a subject is less known about by the masses than on Income Inequality, yet in the U.S. every adult we at L.E. have ever spoken to has a concrete opinion on whether or not Income Inequality is good, bad, or irrelevant.
Well, does income inequality truly matter then?
From an Economic standpoint, not only does it matter, but it effects every American's, and every person in the world, lives.
Bold claim? Well, Economics is a bold concept in terms that it claims to that Economics has power over every person's life that none can resist.
This could be false. However, Latino Economist invites all minorities to join in on researching how Income Inequality works, with the purpose of reaching definitions and analysis of Income Inequality we as a community can agree upon
Here's a Longer Form Discussion Prompt, from one Professor Chase
During the past six years, there has been much discussion from the Obama administration about income inequality.
In short, the rich keep getting richer while the poor keep getting poorer.
The Rich & the Poor as Human Beings
It appears that the middle class is shrinking and may become extinct. When I watch the top 1% of wage earners on business TV I am absolutely shocked by what I am hearing. I actually hear some people within the 1% of top wage earners say that the government should not need to provide a safety net for poor people or people who have been temporarily been laid off or those on social security.
What do People Believe Causes Poverty?
Some believe that poor people are actually lazy and that is why they are not wealthy. When I go cross country on my motorcycle every year, I am amazed by the shear amount of poverty especially in the South and Midwest. My wife and I are in the top 10% of wage earners in this country. You would think I was really rich being in this category. Well, you would be wrong. I live in a modest house, drive a modest car, and most of my needs and some of my wants are easily obtainable.
Remember, opinions are nice, however, I am looking for a focused response backed up by lots of data.
– Prof. Chase
Here is a List of Articles and Books L.E. will Use for Research
2.) Chart. Labor Force Statistics from the Current Population Survey. Bureau of Labor Statistics. Web. 2016. http://data.bls.gov/timeseries/LNS14000000
3.) Dews, Fred. How "economic despair" affects high school graduation rates for America’s poorest students. Brookings Institute. Web. 2016. http://www.brookings.edu/blogs/brookings-now/posts/2016/03/economic-despair-high-school-drop-out-rates - http://www.brookings.edu/blogs/brookings-now/posts/2016/03/economic-despair-high-school-drop-out-rates
4.) Kearney, Melissa S. How Economic Despair Affects High School Graduation Rates. Brookings Institute. Video. Web. 2016. https://youtu.be/wIHjPRho4A4
5.) Kearney, Melissa S.; Levine, Phillipe. Income Inequality, Social Mobility, and the Decision to Drop Out Of High School. Brookings Institute. Web. 2016. http://www.brookings.edu/about/projects/bpea/papers/2016/kearney-levine-inequality-mobility
6.) Krugman, Paul. Return of the Undeserving Poor. New York Times. Web. 2016. http://mobile.nytimes.com/blogs/krugman/2016/03/15/return-of-the-undeserving-poor/?smid=tw-nytimeskrugman&smtyp=cur&_r=0&referer=
7.) Gates, Bill. Why Inequality Matters (wealth and capital). GatesNotes The blog of Bill Gates. Web. 2014. https://www.gatesnotes.com/Books/Why-Inequality-Matters-Capital-in-21st-Century-Review
8.) Summer, Lawrence A. A World Stumped by Stubbornly Low Inflation. larrysummers.com. Web. 2016. http://larrysummers.com/2016/03/07/a-world-stumped-by-stubbornly-low-inflation/
9.) Yellen, Janet. Yellen’s News Conference: Fed Policy, U.S. Economy (Q&A). Bloomberg.. Video. Web. 2016. http://www.bloomberg.com/news/videos/2016-03-16/janet-yellen-speaks-in-two-minutes
Books that Will be Used as Sources in the Series of Articles on Income Inequality
Capital in the 21st Century by Thomas Piketty
The Bottom Billion: Why the Poorest Countries are Failing & What Can be Done About it by Paul Collier
The Economics of Inequality by Thomas Piety
The Price of Inequality: How Today's Divided Society Endangers Our Future, by Joseph E. Stiglitz
Please Join the Discussion, as this Topic is Important to All
1. Commenting on Article Posts in this Series
2. Commenting on this Series of Articles on L.E.'s Twitter
3. Commenting on this Series of Articles on L.E.'s Facebook Page
4. Commenting on this Series of Articles on L.E.'s Youtube Channel
5. Reading the reference Articles and Commenting on them, or critiquing L.E.'s interpretation of the Articles.
Birdsong, Nicholas. Cartoon of Inequality. The Consequences of Economic Inequality. The Seven Pillars Institute. Web. 2/5/2015