
Inequality for All
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Okay, we're going
in my MINI Cooper.
Now, the thing you ought to know
about this MINI Cooper
is, it is small.
I sort of identify with it.
You know?
It's pretty little.
I feel as if it's proportion...
that we are in proportion,
you know?
Me and my car,
we are sort of...
together,
facing the rest of the world.
Economic fairness is,
"the defining issue of our time,
and what the millions..."
This kind of gaping inequality
gives lie to the promise
that's at the very heart
of America.
There is income inequality
in America.
There always has been,
and hopefully
there always will be.
If inequality is at a very
much higher level, who cares?
Income inequality
has been ticking up.
Income inequality is bull.
I think it's about
class warfare.
It's class warfare,
and it's the kind of language
that you would expect
from a leader
not the president
of the United States.
It's true,
because United States of America
by any measure,
except perhaps
income inequality,
where we rank...
Worse than the Ivory Coast,
worse than Cameroon...
64th!
Ah, in your face,
Uruguay, Jamaica, and Uganda!
Yeah.
Okay, are we all here?
My name is Robert Reich.
I was secretary of labor
under Bill Clinton.
Before that, I was at Harvard.
Before that, I was in
the Carter administration.
Do you remember...
does anybody...
You don't remember
the Carter administration.
Before that,
I was a special aide
to Abraham Lincoln.
Those were tough times.
We are going to deal
with three questions.
what is happening
in terms of the distribution
of income and wealth?
Number two, why?
Number three, is it a problem?
Maybe it's not a problem.
Many of you call yourselves
conservatives.
Many of you call yourselves
liberals.
Those labels will become
increasingly irrelevant
as you get deeper and deeper
into this subject.
I want you to test
your assumptions.
If possible, I want to shake
your assumptions a little bit
about why the system
works as it does.
Some inequality is inevitable.
the proper incentives
to be productive, to work hard,
to be inventive...
that's the essence
of capitalism,
and capitalism does generate
a lot of good things.
Look, the question
is not inequality per se.
The question is, when does
inequality become a problem?
How much inequality
can we tolerate
and still have an economy
that's working for everyone
and still have a democracy
that's functioning?
Of all developed nations today,
the most unequal distribution
And we're surging
toward even greater inequality.
One way of looking at
and measuring inequality
is to look at the earnings
of people at the top
versus the earnings
of the typical worker
in the middle.
The typical male worker in 1978
adjusted for inflation,
while the average person
in the top 1%
earned $390,000.
Now fast-forward.
By 2010,
the typical male worker
earned even less
than he did then,
but the person at the top
got more than twice as much
as before.
Today the richest 400 Americans
have more wealth
than the bottom
150 million of us put together.
400 people have more wealth
than half the population
of the United States.
Anger rising
over an economic system
that has rewarded some
but leaves many
feeling left behind.
After the economy crashed
in 2008,
inequality suddenly
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"Inequality for All" Scripts.com. STANDS4 LLC, 2022. Web. 20 Aug. 2022. <https://www.scripts.com/script/inequality_for_all_10812>.
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