Episode 12: Inequality of Wealth in the U.S.
Brendan interviews Andrew about his recent study “Wealth Inequality in the U.S.: Its Level, Trend, and Significance.” They discuss differences between what the wealthy own and what working people own––the massive difference in the amount, but also how the “wealth” of the working class differs in kind from the capital owned by the wealthy. They also discuss why Emmanuel Saez and Gabriel Zucman (associates of Thomas Piketty) claim that inequality of wealth has skyrocketed while other researchers dispute this, and how and why politicians like Bernie Sanders and Elizabeth Warren are making use of the Saez-Zucman data. Finally, they discuss Andrew’s view that no definitive conclusion can be drawn about the trend in wealth inequality, and what we should focus on in light of that.
Also in this episode: Brendan and Andrew discuss “Is America Going Fascist?,” a recent article published by Daron Acemoglu, the well-known social-democratic economist at MIT.
Radio Free Humanity is a podcast covering news, politics and philosophy from a Marxist-Humanist perspective. It is co-hosted by Brendan Cooney and Andrew Kliman. We intend to release new episodes every two weeks. Radio Free Humanity is sponsored by MHI, but the views expressed by the co-hosts and guests of Radio Free Humanity are their own. They do not necessarily reflect the views and positions of MHI.
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