Chapter
Debating the Issues of Poverty and the Wealth Gap
27:05 - 31:14 (04:09)
Two individuals debate about their beliefs on how to alleviate poverty and close the wealth gap in society.
Clips
The idea that inflation causes the only way to close the wealth gap is by making everyone poorer is not true.
27:05 - 28:18 (01:13)
Summary
The idea that inflation causes the only way to close the wealth gap is by making everyone poorer is not true. GDP has been a straight line up, and some people may be getting less rich at the same rate, so they feel poorer, but they are not actually becoming poorer.
ChapterDebating the Issues of Poverty and the Wealth Gap
EpisodeE27: The Great Inflation Debate, Amazon gets spicy on Twitter, rethinking supply chains & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker believes that a social safety net is important to help people out of poverty and into the "opportunity economy".
28:18 - 29:50 (01:32)
Summary
The speaker believes that a social safety net is important to help people out of poverty and into the "opportunity economy". Despite concerns about the cost, he notes that government transfer payments only account for around 2% of GDP and that bipartisan efforts to promote economic growth have historically been successful.
ChapterDebating the Issues of Poverty and the Wealth Gap
EpisodeE27: The Great Inflation Debate, Amazon gets spicy on Twitter, rethinking supply chains & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Reagan's tax cuts and Paul Volcker's actions at the Fed in the 1980s lowered the risk rate of return, leading to more investment and a decades-long decline in interest rates.
29:50 - 31:14 (01:23)
Summary
Reagan's tax cuts and Paul Volcker's actions at the Fed in the 1980s lowered the risk rate of return, leading to more investment and a decades-long decline in interest rates. This strong economy during Reagan and Clinton's presidencies is why they left office with high approval ratings despite scandals.