Unit 4: Labor and Efficiency: Resource Markets, Inequality, and Immigration

Lesson 20a: Income Inequality and Discrimination

Something Interesting - Why are we studying this?

 

Jan. 2018: According to an Oxfam report just 42 people now hold as much wealth as the poorest 3.7 billion. In the U.S., the country’s 3 richest people have the same wealth as the poorest half of the American population.

https://www.huffingtonpost.com/entry/billionaires-oxfam-inequality_us_5a657e61e4b0022830041a7a

https://www.oxfamamerica.org/static/media/files/bp-reward-work-not-wealth-220118-en.pdf

In Jan. 2014 the number was 85 of the world's richest people owned the same amount of wealth as the bottom half of the global population and in Jan. 2017 it was 61 people.

 

Think about it. The wealth of the 42 richest people = the wealth of the 3.5 billion poorest.

And, the gap between the rich and the poor is widening.

 

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Lesson 20a