Ep 462 – FRIDAY SPECIAL “Wealth Inequality”

In the first Friday Special, Tim spends an entire two-hour episode tackling the issue of wealth inequality. In addition to addressing the realities of the wealth gap in America today, Tim explains the two different types of inequality: market inequality and government inequality.

He also takes time to discuss the role of the capitalist in a free market economy. Are they really just fat cats who don’t do any work, or do they serve a larger role that few people take into account? Tim talks about the flaws in the labor theory of value, which assumes that the value of something is tied to how much labor it takes to make it. Art alone leads us to question that.

Finally, the Federal Reserve’s policy of quantitative easing is displayed as it truly is – a policy that exacerbates market inequality by making the poor poorer and the rich richer. Ultimately, in order to address the problem, we need to identify what the real causes are, and propose real solutions to it. Finally, we must also remember, that where you are born is not your destiny. There is still opportunity if you look for it!


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