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The Money with Katie Show

Why Poverty Persists in One of the Richest Countries in the World

The Money with Katie Show

Money with Katie

Investing, How To, Self-improvement, Business, Education

4.81.3K Ratings

🗓️ 7 February 2024

⏱️ 49 minutes

🧾️ Download transcript

Summary

Low-wage work is more prevalent in the US than any other high-income nation—and we've essentially seen 50 years of stasis in anti-poverty efforts. After reading four different books about why the US has such a difficult time minimizing poverty despite having relative abundance, we deep dive into the main issues that keep the poor in place. We also talk about ways to solve for poverty, like readdressing policy, improving allocations for spending, and more. Transcripts, show notes, production credits, and more can be found at https://moneywithkatie.com/poverty-in-the-us. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

The inspiration for this episode came from four books that I've read recently, which we will link to in the show notes. The first is Class by Stephanie Land, her sophomore book which functions like a sequel to her

0:16.7

smash hit made. Evicted by Matthew Desmond, a Pulitzer Prize winning masterpiece that reads more like a novel than heavily researched

0:25.8

non-fiction as well as his more recent book, Poverty by America, which felt like Desmond's impassioned and no punches pulled perspective on all the things that

0:37.6

were afraid to say out loud about our relationship with America's poor.

0:41.7

And finally, Palaces for the people. Eric Kleinenburg's work about the way

0:46.0

an investment in social infrastructure rather than just physical infrastructure helps communities

0:51.8

thrive and grow and how receding further and further into our own little private lives

0:57.2

spells disaster for everyone but the very wealthy. So in that sense I think you can think about this episode a little bit like an

1:05.2

audio book report amalgamation both the research that they have inspired me to do and also the connections that their respective works

1:15.3

allowed me to make as I was kind of reading all of them in the same time period.

1:19.8

But my interest in this topic originally began after I read a land's book made, which was a book that

1:25.9

NPR called an unflinching portrayal of a single mom's will to survive. It was an instant hit and in 2021 Netflix turned her memoir

1:36.0

into a limited series that tells her story over 10 poignant gut-wrenching

1:41.8

episodes and after I watched it, I casually mentioned it to a friend that I thought

1:46.1

it was excellent. And my friend said, yeah, you know, I couldn't watch it, I had to turn it off,

1:50.9

it was way too triggering.

1:53.6

Because having grown up with a single mother

1:55.8

who struggled to make ends meet, she said,

1:58.0

it brought up too many distressing emotions

2:01.3

to watch that same struggle play out in 4K and this response I soon learned was actually quite common.

2:08.4

When I posted a short video about the series on social media back in 2022, many of the 120 comments said

2:16.3

something similar, that this show felt like watching my own childhood or this

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