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What lessons do the authors want us to take away from their articles? What do the points they raise have to do with the topic of inequality?

What lessons do the authors want us to take away from their articles? What do the points they raise have to do with the topic of inequality?

Social Psychology (10th Edition)
Social Psychology (10th Edition)
10th Edition
ISBN:9780134641287
Author:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers
Publisher:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers
Chapter1: Introducing Social Psychology
Section: Chapter Questions
Problem 1RQ1
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Read the article the short articles by Megan McArdle and George F. Will. What lessons do the authors want us to take away from their articles? What do the points they raise have to do with the topic of inequality?

Tab Window Help X Micro Ch. 17 Flashcards | Quiz x /edit/document/_8000901_1?courseld=_139450_1&view=content Think you're living in a 'hellhole' today? Try being a billionaire in 1916 Opinion by George F. Will May 5, 2017 C Chegg Search results for Many x + https://www.washingtonpost.com/opinions/thinking-youre-living-in-a-hellhole-today-try-being-a-billionaire-in-1916/2017/05/05/475d7370- 30f9-11e7-9534-00e4656c22aa story.html 18 Having bestowed the presidency on a candidate who described their country as a "hellhole" besieged by multitudes trying to get into it, Americans need an antidote for social hypochondria. Fortunately, one has arrived from Don Boudreaux, an economist at George Mason University's Mercatus Center and proprietor of the indispensable blog Cafe Hayek. He has good news: You are as rich as John D. Rockefeller. Richer, actually. Some historians estimate that on Sept. 29, 1916, a surge in the price of Rockefeller's shares of the Standard Oil Co. of New Jersey made him America's first billionaire. Others say he never reached this milestone and that Henry Ford was the first. Never mind. If Rockefeller was the first, his billion was worth $23 billion in today's dollars. Boudreaux asks if you would accept this bargain: You can be as rich as Rockefeller was in 1916 if you consent to live in 1916. Boudreaux says that if you had Rockefeller's riches back then, you could have had a palatial home on Fifth Avenue, another overlooking the Pacific, and a private island if you wished. Of course, going to and from the coasts in your private but un-air-conditioned railroad car would be time-consuming and less than pleasant. And communicating with someone on the other coast would be a sluggish chore. Commercial radio did not arrive until 1920, and 1916 phonographs would lacerate 2017 sensibilities, as would 1916's silent movies. If in 1916 you wanted Thai curry, chicken vindaloo or Vietnamese pho, you could go to the phone hanging on your wall and ask the operator (direct dialing began in the 1920s) to connect you to restaurants serving those dishes. The fact that there were no such restaurants would not bother you because in 1916 you had never heard of those dishes, so you would not know what you were missing. If in 1916 you suffered from depression, bipolar disorder, a sexually transmitted disease or innumerable other ailments treatable in 2017, you also tv
Transcribed Image Text:Tab Window Help X Micro Ch. 17 Flashcards | Quiz x /edit/document/_8000901_1?courseld=_139450_1&view=content Think you're living in a 'hellhole' today? Try being a billionaire in 1916 Opinion by George F. Will May 5, 2017 C Chegg Search results for Many x + https://www.washingtonpost.com/opinions/thinking-youre-living-in-a-hellhole-today-try-being-a-billionaire-in-1916/2017/05/05/475d7370- 30f9-11e7-9534-00e4656c22aa story.html 18 Having bestowed the presidency on a candidate who described their country as a "hellhole" besieged by multitudes trying to get into it, Americans need an antidote for social hypochondria. Fortunately, one has arrived from Don Boudreaux, an economist at George Mason University's Mercatus Center and proprietor of the indispensable blog Cafe Hayek. He has good news: You are as rich as John D. Rockefeller. Richer, actually. Some historians estimate that on Sept. 29, 1916, a surge in the price of Rockefeller's shares of the Standard Oil Co. of New Jersey made him America's first billionaire. Others say he never reached this milestone and that Henry Ford was the first. Never mind. If Rockefeller was the first, his billion was worth $23 billion in today's dollars. Boudreaux asks if you would accept this bargain: You can be as rich as Rockefeller was in 1916 if you consent to live in 1916. Boudreaux says that if you had Rockefeller's riches back then, you could have had a palatial home on Fifth Avenue, another overlooking the Pacific, and a private island if you wished. Of course, going to and from the coasts in your private but un-air-conditioned railroad car would be time-consuming and less than pleasant. And communicating with someone on the other coast would be a sluggish chore. Commercial radio did not arrive until 1920, and 1916 phonographs would lacerate 2017 sensibilities, as would 1916's silent movies. If in 1916 you wanted Thai curry, chicken vindaloo or Vietnamese pho, you could go to the phone hanging on your wall and ask the operator (direct dialing began in the 1920s) to connect you to restaurants serving those dishes. The fact that there were no such restaurants would not bother you because in 1916 you had never heard of those dishes, so you would not know what you were missing. If in 1916 you suffered from depression, bipolar disorder, a sexually transmitted disease or innumerable other ailments treatable in 2017, you also tv
7:09 <Albums ⒸLIVE ✓nts Library he/edit/document/_8000884_1?courseld=_139450_1&view=content Admit It: You're Rich NOV 18 by Megan McArdle January 7, 2015, 1:52 PM EST Today 6:58 PM Article link: https://www.bloomberg.com/opinion/articles/2015-01-07/yes-youre-rich-and-its-time-you- admit-it?sref=HrfOpeEh Jack Lew made a lot of money working for Citibank. So why, asks David Sirota, did he say last week that "My own compensation was never in the stratosphere"? Select Edit Jack Lew is not the only person who says this sort of thing. The media is routinely filled with people making six- and seven-figure incomes who modestly report that they are very middle class, struggling, really, to make it from paycheck to paycheck. And if you live in a big coastal city like New York, Washington, Boston or San Francisco, you don't need to wait until someone gaffes to the media; you can go to any private-school parents night or Ivy League alumni reunion to hear a veritable chorus of people remarking that they really don't know how they keep body and soul together on just $350,000 per annum. Be warned, however, that it is not polite to point and laugh the way that you would on Twitter. Why is the 1 percent suffering from this peculiar mass delusion? Well, actually, it's not that hard to understand. Because if you're reading this article, chances are that you are in the top 1 percent of global income. And chances are also that you really don't feel like a tycoon. The cutoff for the global 1 percent starts quite a bit lower than the parochial American version preferred by pundits. I'm on it. So is David Sirota. And if your personal income is higher than $32,500, so are you. The global elite to which you and I belong enjoys fantastic wealth compared to the rest of the world: We have more food, clothes, comfortable housing, electronic gadgets, health care, travel and leisure than almost every other living person, not to mention virtually every human being who has ever lived. We are also mostly privileged to live in societies that offer quite a lot in the way of public amenities, from well-policed streets and clean water, to museums and libraries, to public officials who do their jobs without requiring a hefty bribe. And I haven't even mentioned the social safety nets our governments provide. tv So why don't we feel like Scrooge McDuck, rolling around in all of our glorious riches? Why do we feel kinda, y'know, middle class? For You A i Albums Search
Transcribed Image Text:7:09 <Albums ⒸLIVE ✓nts Library he/edit/document/_8000884_1?courseld=_139450_1&view=content Admit It: You're Rich NOV 18 by Megan McArdle January 7, 2015, 1:52 PM EST Today 6:58 PM Article link: https://www.bloomberg.com/opinion/articles/2015-01-07/yes-youre-rich-and-its-time-you- admit-it?sref=HrfOpeEh Jack Lew made a lot of money working for Citibank. So why, asks David Sirota, did he say last week that "My own compensation was never in the stratosphere"? Select Edit Jack Lew is not the only person who says this sort of thing. The media is routinely filled with people making six- and seven-figure incomes who modestly report that they are very middle class, struggling, really, to make it from paycheck to paycheck. And if you live in a big coastal city like New York, Washington, Boston or San Francisco, you don't need to wait until someone gaffes to the media; you can go to any private-school parents night or Ivy League alumni reunion to hear a veritable chorus of people remarking that they really don't know how they keep body and soul together on just $350,000 per annum. Be warned, however, that it is not polite to point and laugh the way that you would on Twitter. Why is the 1 percent suffering from this peculiar mass delusion? Well, actually, it's not that hard to understand. Because if you're reading this article, chances are that you are in the top 1 percent of global income. And chances are also that you really don't feel like a tycoon. The cutoff for the global 1 percent starts quite a bit lower than the parochial American version preferred by pundits. I'm on it. So is David Sirota. And if your personal income is higher than $32,500, so are you. The global elite to which you and I belong enjoys fantastic wealth compared to the rest of the world: We have more food, clothes, comfortable housing, electronic gadgets, health care, travel and leisure than almost every other living person, not to mention virtually every human being who has ever lived. We are also mostly privileged to live in societies that offer quite a lot in the way of public amenities, from well-policed streets and clean water, to museums and libraries, to public officials who do their jobs without requiring a hefty bribe. And I haven't even mentioned the social safety nets our governments provide. tv So why don't we feel like Scrooge McDuck, rolling around in all of our glorious riches? Why do we feel kinda, y'know, middle class? For You A i Albums Search
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