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4 posts tagged with wealth and America. (View popular tags)
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Poverty may be miserable. But being able to feel a bit better-off than someone else makes it a bit more bearable.
Economists from the National Bureau of Economic Research suggest that people near the bottom end of financial inequity are less likely to be in favour of programs that will help increase their income if those programs will also help those lower on the scale than they are.
...the authors of the new paper argue that people don’t like to be at the bottom. One paradoxical consequence of this “last-place aversion” is that some poor people may be vociferously opposed to the kinds of policies that would actually raise their own income a bit but that might also push those who are poorer than them into comparable or higher positions. The authors ran a series of experiments where students were randomly allotted sums of money, separated by $1, and informed about the “income distribution” that resulted. They were then given another $2, which they could give either to the person directly above or below them in the distribution. The people who were a spot away from the bottom were the most likely to give the money to the person above them..
This may also explain why Warren Buffet's cry to stop coddling the rich (previously
) will continue to fall on deaf ears.
posted by asnider
on Aug 16, 2011 -
Being Poor ...
what it actually entails. More from Body and Soul
, and from Making Light
, and from here's a whosit
And this article,
in which ...they were trying to rescue people with a helicopter and the people were so poor they were afraid it would cost too much to get a ride and they had no money for a "ticket." Dupree was shaken telling us the story. He just couldn't believe these people were afraid they'd be charged for a rescue. ...
posted by amberglow
on Sep 11, 2005 -
America the Polarized
NYT's Paul Krugman says that Congress is polarized because Republicans have moved to the right, while Democrats have remained fairly constant. He (and a political scientist) attribute the change to economic polarization, the sharply widening inequality of income and wealth.
posted by pmurray63
on Jan 6, 2002 -