In the U.S., inequality is often framed as the 99% versus the wealthiest 1%. But that’s not quite the right matchup. While the bottom 90% has done dramatically worse over the last several decades and the top 0.1% has done dramatically better, the 9.9% in between those groups still controls more than half of the wealth in the United States. Author and philosopher Matthew Stewart thinks that the 9.9% are not innocent bystanders, and he joins Nick and Goldy to discuss how this group is entrenching inequality and warping our culture.
The American middle class is shrinking and, contrary to popular belief, globalization and automation are not to blame. Far from inevitable, skyrocketing inequality is a choice. In this episode, we look at the policy choices that have relentlessly undermined the middle class, and why we desperately need to choose a better future.nHeather Boushey: Executive director and chief economist at the Washington Center for Equitable Growth. Author of Finding Time: The Economics of Work-Life Conflict. nnTwitter: @HBousheynMatthew Stewart: Philosopher, D.Phil from Oxford University. Author of Nature’s God and The Management Myth. Contributor to The Atlantic.nWebsite: https://mwstewart.com/ nFurther reading: n(1) http://evonomics.com/new-social-security-system-sharing-economy-hanauer/n(2) https://www.politico.com/magazine/story/2014/11/overtime-pay-obama-congress-112954