Midterm review Essay

Midterm Review

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Economic Inequality

Both talk about the gap between the rich and very rich, rich and middle class

Super rich is 1/10 of 100...

Marsh:

• talk about education

• Education may be a solution to income equality

• talks about life spans and health...his focus his to show his widespread

• happiness leads to long life...

• Japan has the longest life expectancy even though they have the lowest income.

• Other countries are less unequal

- not that they aren't unequal but to lesser degree

• started off with wealth = longevity

- those who are more unequal live less

- the rich in sweden live longer than the poor in Sweden but compared to the poor in the US the poor in Sweden are more healthier,

• Comparison between classes

• Even if you are wealthy, you won't live as long if you werent as wealthy

- Because of...stress, pressure to always to better, competition with other richistanis

Compared to Switzerland, US has a higher income inequality (student in class said this)

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• Has sections and each section has a heading

• Each section might have more than one meaning

• He will tell you it's not true but he will tell you why it's not false

• Marsh starts his book with obelisk in which the bigger the obelisk the longer you have lived • Other countries: When the obelisk isn't big they still live longer because less income inequality • Stress levels are lower in other countries that have less income inequality

• Poverty is a poison (disease)

• Stress impairs the poor

• The lack of money leads to lack of education

• Lack of social mobility

• Born rich, stay rich

• The bigger obelisk, the wealthier you are and longer you lived

• Other countries obelisk aren’t as big but they still live longer

- Less stress

- Frank:

• Excusively focused on rich

• He talks about good and bad

• About being rich

• Difﬁculties of being rich:

- what to do with yourself

- inherited wealth

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- How much money to live your children

• Old money is born rich

• New money are those who earn their money. (they work their ass off)

• Issues with children they experience

- To stealing money from parents (allowed based kids)

- Over spending money on credit cards

- Abuse substances

• Conclusion:

- Raise standards of middle class and poor people.

- Proposes that min. wage should be increased

- he hopes that the rich should have a sense of sensibility and will spread their wealth

• Not realistic

- Every always wants something bigger and better than what they already have.

- They dont care about giving back to society

- It's never enough (money).

- Example: Man buys his wife a benz then his friends laugh at him for only getting
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a benz.

Has chapters

Simpler structure in themes

The author is from a wall street journal

3rd marriage is what should be aimed for

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- Film: Born Rich

• Closer to Richistan

• More money, more problems.

• Don't know what to do with themselves.

• Johnson and Johnson

• Jamie

• Old money

• Inherited money

• No one in the ﬁlm need to work for moeny

• Ego oriented-what they should do with their lives

• The struggles (trials or tribulations) of being rich.

• Fear that comes by talking about money

• Wear money without drawing attention to yourself

- Don’t ﬂaunt their money

- Wear expensive clothes

Search for meaning/identity

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- Each person in the ﬁlm addressed that

- Lived separately from their parents

- Pursued their dreams

Money is a factor to isolation

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• Donald Trumps daughter was embarrassed when a Limo came to pick her up at school

• The rich isolate themselves from others

- Can’t go shopping for $600 handbags with their friends, many can’t afford it

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Marry in the same money class

Shopping, overspending money

Have so much money, they

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