Especially after reading Piketty, I think we all have, at
least to some extent, agreed that income inequity and wealth disparity exists
and are growing problems in the US. As Piketty points out with his use of
literary references, there are many ways that the failures of our financial and
economic systems impact people, particularly those already most vulnerable.
This article, particularly the video that shares stories of
people experiencing homelessness in Brooklyn, reminded me of the real
importance of why we should spend a lot of time talking about inequality in
economics.
We have looked a lot at how risks at the top are
incentivized, but this article demonstrates how those at the bottom are also in
a different way incentivized to take risks that keep them there. How can we
ever have a meritocracy if there are people without their most basic needs met?
Where we incentivize addiction?
“Mr. Bush signed up
for a drug-treatment program and emerged nine months later determined to stay
sober. But the man who ran the house, Yury Baumblit, a longtime hustler and
two-time felon, had other ideas.
Mr. Baumblit got
kickbacks on the Medicaid
fees paid to the outpatient treatment programs that he forced all his tenants
to attend, residents and former employees said. So he gave Mr. Bush a choice:
If he wanted to stay, he would have to relapse and enroll in another program.
Otherwise, his bed would be given away.”
How do you see this article in relation to our class? What
does it say about our society that we use taxpayer money to rescue banks, but
not to put people in a situation where they are actually capable of working to
meet their most basic needs? Do you think that these individuals are at fault
for their addictions and homelessness, or is it the fault of the government for
not better regulating their housing programs and other organizations’ programs
that supposedly are working to end homelessness? As we will be graduating soon,
what can we do going forward to work against income and wealth inequity?
This article provides a very detailed look inside the conditions of the homeless and addict. It's sad to see, as Beth says, how tax is being used to rescue banks but not to put people in better living conditions. In the report that we have to read for our last class, Rewriting the Rules, it also mentions the fact that the whole system of rules and policies were created in favor of people at the top. It's based on the theory that there is a tradeoff between equality and economic growth. I think it's mostly, if not all, the government's fault for perpetuating such policies, which are influenced by other powerful group of people. The report suggests that there should be a radical change to the structure of policies in order to eliminate inequality. I'm not sure what I can do as a fresh graduate, but to be aware of such critical problem is important.
ReplyDeleteThis continues to emphasize what we have been learning. Like Hang said, it's a sad and unfortunate reality that exists. I think one of the biggest problems is awareness and education of this problem; people at the top are blinded by these conditions and are more concerned with taxes and rescuing banks than creating better living conditions. Something I am positive about is our generation. Hopefully I'm not being too optimistic, but I think our generation compared to our parents or grandparents is traditionally more liberal, aware, and accepting. I think with continued awareness that may be present with our generation, we might see changes in this problem in the future. At least, that is what I hope.
ReplyDeleteThis article continues to show what we have been learning in class about inequality. I have to agree with Cam that it is a sad world we live in that this is real and that the biggest problem is awareness along with education. I hope that in the future this becomes less of a problem, but I think that our generation is the first in having differing social ideas compared to past generations. I am interested to see as time goes forward how the problem develops.
ReplyDeleteI have to agree with the others that have commented; it is sad that our economy had led to circumstances like these throughout our society. Awareness definitely needs to be raised about the corruptness of the "programs" the government has set in place to end situations like homelessness. I also believe education can help, but education alone cannot fix this problem. I too am hoping that our generation is different and will somehow be able to make an impact and better the lives of so many Americans at the bottom, rather than continue to feed the top 1%.
ReplyDeleteThis reminds me of Piketty's example of how the public sector can contribute to inequality just as the private sector does, when he discusses the French government spends more money on more well off students that get into the top universities than they do less well of students. Unfortunately the problem isn't isolated to France or universities, so hopefully our generation will step up.
ReplyDeleteI find the above article insightful and sad at the same time. Like the previous commentators have said, there are multiple factors that contribute to the current issue and one of it is the lack of awareness and education about this growing problem in the U.S. To be truthful, I doubt that the necessary policy change would be made that would benefit the American population at large, even if the "elite American" class become more aware and educated on the topic of inequality and how it negatively affects economic growth. That being said, I think one thing that can be done is, that recent graduates who are aware and educated on the matter of the growing income inequality in the U.S. and how it is affecting this country's economic growth would need to share their insights or make the necessary steps to see policy changes in the future once they have entered their career field. Also, I think if anything, recent graduates who have had educational exposure in the matter of income inequality in the U.S. may at least vote for political candidates who seek to address these critical issues once they are in office and make the necessary change needed in the country.
ReplyDeleteThis article paints a very sad picture of out society. It's very clear that something needs to be done so that people's incentives are in line with the public good. From this article, it seems like these three-quarter houses do more harm than good. Homeless individuals like Mr. Bush are never really given a chance to make a better life for themselves despite how much effort they put forth.
ReplyDeleteI agree with all of the above comments. This post was sad in that the well-off citizens of the US turn a blind eye or may be negligent of the inequality that persists in the US. As Farhiya mentioned above, even if the top 1% of wealth were educated on the inequality, the inequality may not decrease. I believe that we need to make higher education systems more accessible to the less wealthier citizens. In addition I believe that it is current graduates to be exposed to this information and be innovative in finding a solution to improve the well-being of all citizens.
ReplyDelete