Money 2.0: The Rich and the Rest of Us

Hidden Brain

Hidden Brain Media

Arts, Science, Performing Arts, Social Sciences

4.6 • 40.4K Ratings

🗓️ 23 May 2022

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Where do you stand on the income ladder? Do you think of yourself as rich, as poor, or as somewhere in between? Our perceptions of wealth — our own, and other people's — can affect us more profoundly than we realize. This week in our Money 2.0 series, we revisit two of our favorite conversations about wealth and inequality. Sociologist Brook Harrington takes us inside the lives of the über wealthy and the people who manage their fortunes. Then, psychologist Keith Payne shares surprising research about income inequality and how it shapes our minds.

Transcript

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0:00.0	This is Hidden Brain, I'm Shankar Vedanta.
0:03.0	Have you ever wondered what it's like to be rich?
0:07.0	Taking all of her for detox in the Hamptons, standardized testing has really stressed him out.
0:12.0	Really rich?
0:13.0	Why are you wearing a tox?
0:15.0	It's after sex, what am I, a farmer?
0:19.0	Extreme wealth is something that few of us will experience.
0:22.0	We'll never jet somewhere on a private plane.
0:25.0	We'll never employ a butler or own a mansion on a secluded island.
0:29.0	The gap between the uber wealthy and the rest of us already massive is growing due in part to the COVID-19 pandemic.
0:37.0	The richest 10% of people on the planet now own more than 3-4% of all the wealth.
0:43.0	And since the start of the pandemic, the world's 10 richest men have doubled their fortunes.
0:49.0	On a small scale in our own communities, it can often feel like those with lots of money and those with less
0:57.0	are living in completely different worlds.
1:00.0	Today, in the latest of our Money 2.0 series, we talk with a sociologist about the mindset of the uber rich.
1:07.0	The lives of the richest people in the world are so different from those of the rest of us it's almost literally unimaginable.
1:15.0	We'll also ask, what does inequality do to us?
1:19.0	How does it shape the ways we think about ourselves and the ways we think about the people around us?
1:24.0	We think about ourselves in terms of being on a certain wrong with some people above us and other people below us.
1:31.0	Where we think we stand on that ladder tells you a lot about a person's life and their life outcomes.
1:38.0	Wealth and inequality this week on Hidden Brain.
1:47.0	Brooke Harrington is a sociologist at Dartmouth College.
	...

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