Experiencing Poverty
This redevelopment of poor and working-class urban neighborhoods into upscale enclaves often makes housing unaffordable and contributes to homelessness.
What is gentrification?
This is what the US economy is loaded up with that has the typical American spending much of their income on and has stagnated the standard of living.
What is debt?
This act made in 1933 is what helped protect the economy by regulating Wall Street speculation and combat fraud.
What is the New Deal Glass-Steagall Act?
While there are 50 states within the USA, this one is the only one that has a state-owned public bank.
What is North Dakota?
This is composed of an individual’s skills, knowledge, and experience.
What is human capital?
This American sociologist commented on the "peculiar sensation" of double consciousness in terms of the objectification of marginalized peoples as "problems."
Who is W.E.B. DuBois
Unlike the United States, this country mentioned in the chapter is able to have high hourly manufacturing compensation costs, run an enormous trade surplus, and be able to trade heavily with China while having its imports and exports at a balance
What is Germany?
These financial assets were created by Wall Street that were nothing more than bets on pools of high risk mortgages that were being resold to investors.
What are synthetic collateralized debt obligations (CDOs)?
These professionals earn 78x more than the CEO of the Bank of North Dakota, Aric, Hardmeyer, who is considered a state government employee.
Who are the Top 5 Wall Street bankers?
This is income before taxes and transfers.
What is market income?
Until new legislation of 1996, this federal assistance program allowed women to stay at home with their children.
What is Aid to Families with Dependent Children (AFDC)?
This free trade agreement resulted in the loss of 700,000 jobs in the United States due to its “claimed” intent of creating “free and open” markets that benefit everyone/
What is NAFTA or the 1994 North American Free Trade Act?
This large insurer would be sent towards bankruptcy, after having to pay off the bets made by CDOs that were created in order to make everyone large amounts of money.
What is AIG?
This trade agreement is what Wall Street is trying to use in order to combat the threat (to their wallets) of public banks.
What is the Trans-Pacific Partnership (TPP)?
This is the social ideal that the opportunity to prosper and succeed is open to anyone who is willing to work hard.
What is the American Dream?
While receiving "assistance" from this program, Latina women in the case study we read were forced to make tough decisions regarding their families' wellbeing despite the program's intention to lead Americans down "greater avenues."
What is GAIN or Greater Avenues for Independence?
This person was the Former Secretary of Labor in the Clinton administration who argues that free trade agreements are really about transferring wealth to financial and corporate elites.
Who is Robert Reich?
It was this amount that the bottom 99% of Americans would have their income grow during the recovery period of post 2008 crash.
This model is what has led to many “worshiping the false god of privatization of everything” and is fundamentally flawed when put against other thriving models that actually try to help the average person.
What is the Better Business Climate Model?
This is the movement of children above the education, occupation, income, and assets of their parents.
What is intergenerational mobility?