Tue., September 27
Americans Understimate U.S. Wealth Inequality
The latest poverty rates show that more Americans are poor than ever before. On top of this, we now have a racial wealth gap that’s the widest it’s ever been between whites, African Americans, and Latinos. Today, the median wealth of white households is 20 times that of black households, according to a Pew study, and the pressures of this economic inequality are leading to debt. With the top one percent commanding one-third of all wealth, the bottom 99 percent are using credit cards to keep up with the proverbial Joneses. We’ll explore these issues- from the forces that are creating and sustaining economic inequities to a program in Boston that’s getting people out of debt.
Americans Underestimate U.S. Wealth Inequality
GUEST: Michael Norton: associate professor of business administration at Harvard Business School. He published a paper about how Americans underestimate wealth inequality in the US.