The discussion question is based on the video, “Inequality for All”:
To view video, click on the YouTube link below the three video questions that follow.
Please keep in mind as you watch this video, that more than seven years after its release, this video remains valid positive and normative economic analysis with current concepts and issues. The trends portrayed with regard to inequality of wealth, income, productivity, wages, social outcomes, political economy and much more continue to this day.
a.) What are the parallels between 1928 and 2007 that are drawn in the video in terms of income distribution and the stability of the economy?
b.) Why is it that the middle class – not the wealthy – are the true “job creators”? You may use the explanation of Nick Hanauer, the owner of the pillow manufacturing firm, here.
c.) Robert Reich says, “The question is not inequality per se; the question is, when does inequality become a problem?” In your own words, when do you think inequality becomes a problem? Pick two of the solutions Reich mentions and discusses in the video and explain whether you think these would work or are adequate.
To view the video, use this link:
”Inequality For All” (Links to an external site.)
Note: you must write a concise answer and correctly and appropriately use a minimum of four of these following concepts or terms found in the reading or videos. If you use terms different from those listed below from the reading or video(s) you must note the location they can be found in the reading or video by citing the specific name of source and page of the text or video time. Terms or concepts include the following: life cycle effects, personal distribution of income, functional distribution of income, Gini coefficient, wealth, income, income deficits, Lorenz curves, poverty thresholds, ratio of income to poverty, human capital, job creators, labor unions, Rawls and Nozick, as explained in the textbook, reading, or other course materials. Be sure to bold the minimum four or more terms or concepts in the text of your initial discussion post as you use them.