There’s the age-old truism: Money can’t buy happiness. Yet we often believe that inordinate wealth would in fact be freeing. Mother Jones’ senior editor Michael Mechanic set out to understand the ultra-rich. And he says their wealth is harming them, too. We discuss the extreme wealth gap and how inordinate wealth harms us all.
Tracy Gary, philanthropic advisor. Co-director of Unleashing Generosity. (@tracygary1)
From The Reading List
New York Times: "‘Jackpot’ Looks at How Inequality Is Experienced by the Very, Very Rich" — "If you have ever wondered how the ultra-rich live, it turns out — are you ready for it? — they live pretty well."
Mother Jones: "America’s Wealth Gap Is Much More Obscene Than You Had Imagined" — "They have super-yachts, wine cellars, multiple homes, home movie theaters, private safe-rooms, and family office suites."
The Guardian: "Opinion: The rich-poor gap in America is obscene. So let's fix it – here's how" — "The United States cannot prosper and remain a vigorous democracy when so few have so much and so many have so little."
New York Times: "The True Cost of Closing the Racial Wealth Gap" — "Elimination of the wealth gap between Black and white Americans is a stated goal of President Biden and the Democratic Party. The gulf is enormous any way you look at it."
This program aired on May 3, 2021.