The Reality of Wealth Distribution
Posted by Michelle Moquin on March 27th, 2013
Good morning!
If you haven’t seen this before, it is quite illuminating.
Viral video shows how wealth is really distributed
By Tami Luhby March 8, 2013: 8:06 AM ET
Think you know how wealth is distributed in America? Think again.
A YouTube video that’s gone viral recently shows that our perceptions of who has money and how much they have is quite skewed. The poor and middle class have a lot less than most people think, while the rich have a lot more. And the Top 1% are off the charts.
The video, which has been viewed more than 3.8 million times, draws heavily on the wealth inequality work of Michael Norton and Dan Ariely, professors at the business schools of Harvard and Duke business, respectively. The duo asked Americans how they thought wealth was distributed and found that the estimated and ideal divisions of the wealth pie bear little resemblance to reality.
The piece also features a CNNMoney story on an AFL-CIO report that showed CEOs earned 380 times the average worker.
Check out the video for yourself:
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Interesting and shocking isn’t it? Thoughts? Blog me.
Lastly, greed over a great story is surfacing from my “loyal”(?) readers. With all this back and forth about who owns what, that appears on my blog, let me reiterate that all material posted on my blog becomes the sole property of my blog. If you want to reserve any proprietary rights don’t post it to my blog. I will prominently display this caveat on my blog from now on to remind those who may have forgotten this notice.
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michelle
Aka BABE: We all know what this means by now :)
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March 27th, 2013 at 9:38 am
That is one helluva eye opener Michelle.
March 27th, 2013 at 9:47 am
How to Stop Feeling Cold—Just Using Your Mind
I hate feeling cold—and unfortunately, I feel that way a lot. You, too?
Sure, some physical activity can dispel a chill pretty fast…but you can’t do a quick set of jumping jacks when you’re, say, at the office, in a restaurant or on a bus.
So you’ll be tickled to learn about a nifty trick for warming up using only your brain.
The secret is to tap into the power of nostalgia. Here’s how it works…
Nostalgia is defined as a sentimental longing or wistful affection for the past. When waxing nostalgic, people typically reminisce fondly about personally meaningful relationships, places, things and/or events from their past.
Previous studies have shown that nostalgia helps maintain psychological comfort, so some clever researchers set out to learn whether nostalgia also can help maintain physical comfort. To do that, they set up five studies…
WARM THOUGHTS, WARM HANDS
In the first study, participants tracked their feelings of nostalgia over 30 days. Results showed that they felt more nostalgic on colder days.
In the second study, participants were randomly assigned to sit in a room that would be perceived by most people to be a little cold (68°F)…or a room that was comfortable (75°F)…or a room that was warm (82°F).
Then they rated how nostalgic they felt for yesteryear’s friends, pets, family homes, TV shows, etc.—and those in the cold room were found to be feeling the most nostalgic.
Explanation:
Nostalgia, an emotion with a strong connotation of warmth, is triggered by coldness—a phenomenon that reflects the brain’s attempt to restore the body’s comfort!
Now here’s where it gets really intriguing…
The third study investigated music’s well-known ability to evoke nostalgia.
And, in fact, volunteers who said that music made them feel nostalgic also said it made them feel physically warmer.
In the fourth study, all participants sat in a cold room (61°F) and were asked to think about either an event that made them feel nostalgic or an ordinary event from their past. Then each person tried to guess the temperature of the room.
Results:
Those who had been recalling nostalgic events judged the room to be two degrees warmer, on average, than those who had been recalling ordinary events—indicating that nostalgia actually modulated people’s perception of temperature.
For the fifth and final study, participants again were asked to recall either a nostalgic event or an ordinary one…then they each placed a hand in ice-cold water and held it there as long as they could stand it.
You guessed it! On average, those whose thoughts had been nostalgic tolerated the icy water 32% longer—for 26 seconds, on average, compared with less than 20 seconds for those who did not feel nostalgic.
Give yourself a warm glow:
Next time you’re feeling chilled, why not try bringing to mind a favorite nostalgic memory from the past—of hitting a game-winning home run in Little League…or buying your first prom dress…getting together with your best friend as a young adult…or holding your child or grandchild for the first time. Such thoughts will warm not only your heart, but also your body.
Source: Tim Wildschut, PhD, senior lecturer, University of Southampton, UK, and coauthor of an article on nostalgia published in Emotion.
March 27th, 2013 at 1:10 pm
Maureen hits the nail on the head re SCOTUS hearing:
“Their questions reflected a unanimous craven impulse: How do we get out of this? This court is plenty bold imposing bad decisions on the country, like anointing W. president or allowing unlimited money to flow covertly into campaigns. But given a chance to make a bold decision putting them on the right, and popular, side of history, they squirm.”
http://www.nytimes.com/2013/03/27/opinion/dowd-courting-cowardice.html?ref=global-home
March 27th, 2013 at 1:11 pm
Stephen Colbert: The Supreme Court is hearing arguments about gay rights, and, no surprise, they’re oral. I shudder to think that the unnatural coupling of same-sex partners may be put on the same legal footing as my loving relationship with my gun. “The Bible” plainly says marriage is between a man and that man’s rib. But support for gay marriage is surging, like Ryan Gosling in my dreams. Knock it off!
March 28th, 2013 at 6:44 am
Slipped into the Agricultural Appropriations Bill, which passed through Congress last week, was a small provision that’s a big deal for Monsanto and its opponents. The provision protects genetically modified seeds from litigation in the face of health risks and has thus been dubbed the “Monsanto Protection Act” by activists who oppose the biotech giant. President Barack Obama signed the spending bill, including the provision, into law on Tuesday
Since the act’s passing, more than 250,000 people have signed a petition opposing the provision and a rally, consisting largely of farmers organized by the Food Democracy Now network, protested outside the White House Wednesday. Not only has anger been directed at the Monsanto Protection Act’s content, but the way in which the provision was passed through Congress without appropriate review by the Agricultural or Judiciary Committees. The biotech rider instead was introduced anonymously as the larger bill progressed — little wonder food activists are accusing lobbyists and Congress members of backroom dealings.
The Food Democracy Now and the Center for Food are directing blame at the Senate Appropriations Committee and its chairman, Sen. Barbara Mikulski, D-Md. According to reports, many members of Congress were apparently unaware that the “Monsanto Protection Act” even existed within the spending bill, HR 933; they voted in order to avert a government shutdown.
“It sets a terrible precedent,” noted the International Business Times. “Though it will only remain in effect for six months until the government finds another way to fund its operations, the message it sends is that corporations can get around consumer safety protections if they get Congress on their side. Furthermore, it sets a precedent that suggests that court challenges are a privilege, not a right.”
Natasha Lennard is an assistant news editor at Salon, covering non-electoral politics, general news and rabble-rousing. Follow her on Twitter @natashalennard, email nlennard@salon.com.