Income Inequality

Thursday, Oct. 17, 2013, 9am to 10:30 in the Meeting Room (behind the fireplace)

Next week, we will start a new topic, Income Inequality. Norm will lead the discussion. Here is his preliminary list of issues we can talk about:

THE  FOLLOWING ARE TYPICAL QUESTIONS THAT WILL LIKELY BE DISCUSSED DURING THE SESSION ON October 17, 2013.

What is income anyway? 

What type of people are in the top and bottom income brackets?

What is a fair wage and how is it determined?  Do market forces matter?

Does income affect life expectancy? obesity? infant mortality?

Does income inequality affect our attitude, philosophy, ideology, health?

What advantages result from income inequality?  Disadvantages?

What is the Gini coeffieient and how is it calculated?

Can we reduce income inequality in a capitalist economy?  Should we? How?  Have other countries done so?  Is the US such an outlier we have no peers?

Why do portions of the lower 90% vigorously resist any effort to increase additional taxes on the top 0.1%’s?  Are the rich really job creators? Is it a fairness issue?  Undemocratic?  Would the additional tax diminish our entrepreneurial incentive to be 0.1%ers some day?

Suggested videos:

• Wealth Inequality in America
• Nick Hanauer: The Banned TED Talk
• Richard Wilkinson: How economic inequality harms societies
• Michael Sandel: Why we shouldn't trust markets with our civic life

Books on Inequality:

• The Price of Inequality, 2012, Joseph Stiglitz (Nobel Laureate)
• The Great Divergence, 2012, Timothy Noah
• Inequality and Instability, 2012 James K Galbraith
• Falling Behind, 2007, Robert H Frank