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9/23/2013 TruthToTell- WIDENING ECONOMIC INEQUALITY: An Old Story Lives in New Numbers
New studies warn us about the pending disasters that could well occur if continued economic inequality sticks with us and we don’t get our heads out of the sand about where each of us in middle-class circumstances actually sits along the income and to see the real harm increasing poverty is doing to disrupt society and threaten massive divisions as the rich get richer and the poor can no longer focus their attention on anything but survival. At any cost. It’s in the nature of all animals that survival comes first.
Will policymakers stop pandering to the self-deception and start putting the singular effort needed to turn these trends around before the complete collapse of the economy and descent into chaos? The numbers are there, sometimes in the driest of terms, but serious numbers, nonetheless. Moreover, one study confirms the paralysis of those in poverty to focus their decision-making in favor of improving themselves and making better choices for their behavior. How can anything go well for people whose cognitive functions are seriously, perhaps fatally impaired by their poverty?
TTT’s ANDY DRISCOLL and MICHELLE ALIMORADI query three long-term observers of the economic malaise and growing inequality, including one author of one of the more prominent studies – that of Growth & Justice’s showing the serious dimensions of this issue - “Widening Economic Inequality in Minnesota: Causes, Effects, and a Proposal for Estimating Its Impact in Policymaking”.
Thomas Legg - PhD (Applied Economics) – Professor of Finance, Carlson School of Management, UofM; Researcher, Co-Author, Growth&Justice Report: “Widening Economic Inequality in Minnesota: Causes, Effects, and a Proposal for Estimating Its Impact in Policymaking,”
Brianna Halverson - Director, Minnesota Branch, Working America.
Tom O'Connell - PhD – Professor Emeritus of Political Studies at Metropolitan State University
September 23, 2013
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