Read this Paul Krugman opinion piece from the NYT, April, 2022 for an update of some of the concepts and data that Robert Reich discusses in his decade-old YouTube video, "Inequality For All": A Small Earthquake on Staten Island, Paul Krugman, NYT, April, 2022↓ To view video, click on the "Documentary Area" link below the three video questions that follow. a.) Explain why it is that the middle class – not the wealthy - are the true “job creators”? Include a quote from one of the people interviewed who discusses this. b.) What are the parallels between 1928 and 2007 that are drawn in the video in terms of income distribution and the stability of the economy? Cite at least two parallels from the video (cite their location and context in the video) and explain how they relate. c.) Robert Reich says, "The question is not inequality per se; the question is, 'When does inequality become a problem?"". (Hint: when promise of the upward mobility of the American Dream gets frozen). More than anything "Inequality For All" is about both economic reform and redistribution. Pick two of Reich's solutions to thaw the "frozen" upward mobility - one emphasizing reform and one emphasizing redistribution - that Reich covered in the video and explain whether you think each one of those solutions you pick would work or are adequate. Eight points of Extra credit (optional): You may compare and contrast how you think both of Reich's solutions you discussed in part c of your answer would work in the context of the emerging solutions for reform and redistribution offered by the Trump administration which is fast becoming the new establishment (Hint: Focus on Trump's promises of tax cuts, deregulation, higher tariffs, mass deportation, repeal of ACA, etc.). For the extra credit you must include the URL's you found to support Trump's solutions you discuss - one for reform and one for redistribution to "thaw" the "frozen" upward mobility and explain whether you think each one of those two solutions you picked would work or are adequate. If you wish to answer the extra credit question, please indicate your extra credit answer by labeling it as "extra credit" in the body of your discussion answer and write it after your answer for part "c" of your discussion answer. -

Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter16: Government Spends, Collects, And Owes
Section: Chapter Questions
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Read this Paul Krugman opinion piece from the NYT, April, 2022 for an update of some of the concepts and data that Robert Reich discusses in
his decade-old YouTube video, "Inequality For All": A Small Earthquake on Staten Island, Paul Krugman, NYT, April, 2022↓
To view video, click on the "Documentary Area" link below the three video questions that follow.
Transcribed Image Text:Read this Paul Krugman opinion piece from the NYT, April, 2022 for an update of some of the concepts and data that Robert Reich discusses in his decade-old YouTube video, "Inequality For All": A Small Earthquake on Staten Island, Paul Krugman, NYT, April, 2022↓ To view video, click on the "Documentary Area" link below the three video questions that follow.
a.) Explain why it is that the middle class – not the wealthy - are the true “job creators”? Include a quote from one of the people interviewed who
discusses this.
b.) What are the parallels between 1928 and 2007 that are drawn in the video in terms of income distribution and the stability of the economy?
Cite at least two parallels from the video (cite their location and context in the video) and explain how they relate.
c.) Robert Reich says, "The question is not inequality per se; the question is, 'When does inequality become a problem?"". (Hint: when promise of
the upward mobility of the American Dream gets frozen). More than anything "Inequality For All" is about both economic reform and
redistribution. Pick two of Reich's solutions to thaw the "frozen" upward mobility - one emphasizing reform and one emphasizing redistribution -
that Reich covered in the video and explain whether you think each one of those solutions you pick would work or are adequate.
Eight points of Extra credit (optional): You may compare and contrast how you think both of Reich's solutions you discussed in part c of your answer
would work in the context of the emerging solutions for reform and redistribution offered by the Trump administration which is fast becoming the
new establishment (Hint: Focus on Trump's promises of tax cuts, deregulation, higher tariffs, mass deportation, repeal of ACA, etc.). For the extra
credit you must include the URL's you found to support Trump's solutions you discuss - one for reform and one for redistribution to "thaw" the
"frozen" upward mobility and explain whether you think each one of those two solutions you picked would work or are adequate. If you wish to
answer the extra credit question, please indicate your extra credit answer by labeling it as "extra credit" in the body of your discussion answer and
write it after your answer for part "c" of your discussion answer.
-
Transcribed Image Text:a.) Explain why it is that the middle class – not the wealthy - are the true “job creators”? Include a quote from one of the people interviewed who discusses this. b.) What are the parallels between 1928 and 2007 that are drawn in the video in terms of income distribution and the stability of the economy? Cite at least two parallels from the video (cite their location and context in the video) and explain how they relate. c.) Robert Reich says, "The question is not inequality per se; the question is, 'When does inequality become a problem?"". (Hint: when promise of the upward mobility of the American Dream gets frozen). More than anything "Inequality For All" is about both economic reform and redistribution. Pick two of Reich's solutions to thaw the "frozen" upward mobility - one emphasizing reform and one emphasizing redistribution - that Reich covered in the video and explain whether you think each one of those solutions you pick would work or are adequate. Eight points of Extra credit (optional): You may compare and contrast how you think both of Reich's solutions you discussed in part c of your answer would work in the context of the emerging solutions for reform and redistribution offered by the Trump administration which is fast becoming the new establishment (Hint: Focus on Trump's promises of tax cuts, deregulation, higher tariffs, mass deportation, repeal of ACA, etc.). For the extra credit you must include the URL's you found to support Trump's solutions you discuss - one for reform and one for redistribution to "thaw" the "frozen" upward mobility and explain whether you think each one of those two solutions you picked would work or are adequate. If you wish to answer the extra credit question, please indicate your extra credit answer by labeling it as "extra credit" in the body of your discussion answer and write it after your answer for part "c" of your discussion answer. -
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