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Consider This from NPR

'Affordability,' and the repercussions of the increasing global wealth gap

Consider This from NPR

NPR

Society & Culture, News, Daily News, News Commentary

4.15.3K Ratings

🗓️ 9 November 2025

⏱️ 10 minutes

🧾️ Download transcript

Summary

‘Affordability’ was the word that resonated across America during elections last week, reflecting voters’ demand for elected officials to address the rising cost of living. But the wealth gap in America and globally is increasing. Nobel-prize winning economist Professor Joseph Stiglitz talks about the repercussions for democracies worldwide.

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This episode was produced by Jordan-Marie Smith, with engineering by Peter Ellena.

It was edited by Ahmad Damen. Our executive producer is Sami Yenigun.

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Transcript

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0:00.0

The word affordability got a lot of use by candidates in the lead-up to last week's U.S. elections.

0:07.0

Like New York City's 34-year-old mayor-elect, Zeran Mamdani, a Democratic Socialist, when he was campaigning, he focused relentlessly on how increasingly expensive New York has become.

0:18.3

Ultimately, what I think binds us together is that shared belief that this is a city that should be affordable.

0:23.8

And by building a tent around that affordability.

0:27.4

That was in July when Mamdani spoke with Morning Edition's Layla Faddle.

0:31.7

Since then, more and more politicians have been talking about the rising prices of seemingly everything. Virginia's

0:38.9

governor-elect Abigail Spanberger centered her campaign on the high cost of living. We have a lot of

0:44.0

challenges facing our communities, whether it's challenges of affordability and housing, health care, and

0:48.9

energy. Meanwhile, affordability seems to have become a trigger word for President Trump. He says many

0:54.9

prices have come down since he was reelected.

0:57.2

It's no good if we do a great job and you don't talk about it. And I don't think they talk

1:01.6

about it enough. You know, they have this new word called affordability and they don't

1:04.8

talk about it enough. The Democrats did. And the Democrats make it up because we took over a mess.

1:12.8

Consider this. Affordability has become a political promise and appears to be an effective campaign strategy.

1:19.5

And it also summarizes a deep inequality affecting American lives. What would it take to close that divide?

1:28.1

From NPR, I'm Sasha Flavor.

1:34.4

This message comes from Wise, the app for using money around the globe.

1:43.3

When you manage your money with Wise,

1:45.3

you'll always get the mid-market exchange rate with no hidden fees. Join millions of customers

1:50.7

and visit Wise.com. T's and C's Apply. There's a battle playing out over who should control American

1:57.7

universities. We're going to bake Ruttees University.

2:01.7

In season one, we were guessing what was to come.

...

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