To the Point on NPR: “Wealth and the Surging Income Inequality Gap”
Host: Warren Olney
Guests: Tim Harford, Nathaniel Hendren, Max Lawson, and Sam Polk
Original air date: January 24, 2014
Start Time: 8 minutes in
End Time: 44 minutes in
End Time: 44 minutes in
In this edition of “To the Point” with Warren Olney, the issue of income inequality is investigated. Olney aims to answer the questions: How did the very rich get that way? Will they share their wealth? and Is greed a form of addition? Four economic experts argue their viewpoints on the issue.
Nathaniel Hendren, Professor of Economics at Harvard→ In recent study, Hendren found that young people moving out of poverty remains consistent with past statistics. In fact Hendren contents that rather than looking at income inequality, the question should be on financial, upward mobility, which would put factors like school quality, racial segregation, family structure, and class segregation under examination. The study he cites shows that young people that live in communities with a strong middle class have a greater chance of upward mobility. Mobility ranges from region to region.
Tim Harford, columnist for Financial Times→ Harford discusses the concept of “negative wealth” meaning people living in debt. He acknowledges that income inequality is greater now than in any time in the history of the United States. Harford indicates that in income inequality and wealth distribution are becoming political issues that influence how we run our democracies.
Max Lawson, director of reports for Oxfam→ According to Oxfam, 85 wealthiest people have as much money as the poorest 3.5 billion people combined--a staggering and shocking statistic. In order to “level the playing field,” Lawson says we need to look to progressive taxation, the richest paying their fair share in order to have the top education and health care system. He asks that people with high incomes pay more in order to mobilize that poor at the bottom of the financial spectrum.
Sam Polk, former Wall Street Trader→ Based on his personal experience, Polk discusses the obsession with wealth accumulation as an addiction. He argues that the income inequality issue is more of a spiritual issue more so than a political one.
Quantitative: No Lexile Level or ATOS available
Qualitative: This podcast is definitely geared for upper classmen and adults given density and complexity of the subject matter in addition to the organization. Students would need to have sophisticated listening skills in order to follow the arguments and rebuttals put forth by the experts especially since the experts are not given an equal amount of time to speak and are not always given an opportunity to respond to everyone involve in the discussion. Students would have to have a solid grounding in the political and financial climate of the United States and even the world.
Content Area: English; Social Science--U.S. History; Social Science--World History; Social Science--Civics; Economics; Government/Ethics; Finance.
Curriculum Suggestions: In English, students could examine the structure of the experts’ arguments and their support including determining if Olney’s three main questions were addressed by the panel. In the U.S. History, students could research upward mobility, income inequality and wealth distribution beginning before the Great Depression, noticing trends and government programs that aim to minimize the negative effects on the poor. Similarly, World History classes may want to look at how other countries seem to not have the same problems as the United States, take Switzerland for example. On the other hand, countries such as China, are noticing similar income issues as the United States even though it is a relatively “poor” country. Since the issue is so large, there are many paths of exploration to follow.
Common Core Standards: RI.11/12.6-8; SL.11/12.1-6; RH.11/12.1-4, 6
Additional/Digital Content:
- Sam Polk feature from Forbes--
- Sam Polk’s foundation, Groceryships, that gives scholarships for families living in poverty to purchase the best food they can to combat childhood obesity--http://groceryships.com
- Polk on “the love of money”--http://www.nytimes.com/2014/01/19/opinion/sunday/for-the-love-of-money.html?_r=0
- Hedren’s study on trends in intergenerational mobility--
- Harford on global poverty and rich-world inequality as separate issues--
Personal Thoughts: This piece speaks to many students’ current financial situations. At a school like Oxnard High School, there multiple ways to make this content relevant to the students. Beyond just having a personal, real-world connection, students might begin to understand the root of greed and perhaps even see it’s connection to other themes seen in some of the previously mentioned texts.
*Meets the "Media Item" requirement
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