The traditional economist in me has trouble with this. Why would people care if others have more than they do? If I am happy, it should not matter if my neighbor gets $20,000 or $200,000 or $200,000,000 a year so long as (s)he has enough to live.
On the other side has been a growing field of research that has shown that inequalities hurt the overall "happiness" and even the health of residents of a country. While we cover some of it in Behavioral Finance class, I was surprised by the enormity of the findings.
Worth watching even if you may not agree with all of it.
On the other side has been a growing field of research that has shown that inequalities hurt the overall "happiness" and even the health of residents of a country. While we cover some of it in Behavioral Finance class, I was surprised by the enormity of the findings.
Worth watching even if you may not agree with all of it.
This is a great TED video. Also on I hadn't seen before. Having never looked into such data I was rather shocked by the findings, I guess it makes sense though. Will anything ever change? I doubt it.
ReplyDeleteWhy do you think the lowest and highest rates of US high school dropouts are in the south/midwest?
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