Winner Take All Society?

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Presentation transcript:

Winner Take All Society? The free market & rewards

U.S. GDP in Comparison U.S. 13.5 Trillion World: 54.0 Trillion 4.5% of population U.S. controls 25% of wealth

What is Income? What is Wealth? What you EARN per year often referred to as salary the average college graduate (4yrs) starts at an average of $42,000 per year What is Wealth? What you OWN minus what you OWE House = $1,000,0000 Mortgage = $950,0000 Stocks = $50,000 Wealth = $100,000

Wealth vs. Income Numbers YOU should know for TEST Top 20% has 84% of Wealth Top 20% earns 50% of Income Top 1% has 39% of Wealth Top 1% earns 15% of Income Bottom 40% has less than 1% of wealth

Why do a few get most of the MONEY? Classroom Reading: Why do a few get most of the MONEY? Economic Theory on the Distribution of Income

Winner Take All Analysis Low-Skilled Workers Highly Educated Workers S S D D What is good about inequality?

Winner Take All: Superstar Theory