Alan Weiss' The Uncomfortable Truth
The Wealth We Ignore
- Author: Vários
- Narrator: Vários
- Publisher: Podcast
- Duration: 0:06:54
- More information
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Synopsis
The agenda of inequality and wealth focused only on the richest might not reconcile with reality. There have been increases in home ownership (even though buying always has its difficulties, from interest rates to inventory). There is a record of intergenerational wealth transfer from retirement savings and the Regan-era IRA legislation. In the West, family prosperity is higher than ever: assets, cash in banks, pension funds, etc. Daniel Waldenström's book Richer and More Equal makes a case that the West is richer and has less inequality than in the past. US wealth concentration is higher than in Europe but is lower than before WWII. Major improvements that lower wealth concentration have been pension/retirement funds and home ownership. Wealth improvement leads to successful business ventures, hiring, and investment, and the most net, new jobs. We are not there yet. Many inequities remain. Capitalism does a fine job generating wealth but not distributing it. It is an ethical and societal responsibilit