The COVID-19 pandemic has caused a significant economic fallout, with many countries struggling to recover. In the midst of this, economists started to describe the recovery of the United States as a K-shaped one. This meant that high-income individuals were bouncing back faster than those with lower incomes.
However, Peter Atwater, who originally coined the term “K-shaped recovery,” believes that economic inequality has only worsened since then. He believes that those at the top and bottom of the income pyramid have become even more divided.
Atwater joins the show to discuss why he thinks income inequality has grown, why wage gains for low-income workers don’t tell the whole story, and the dangers of a K-shaped economy. He also shares which letter of the alphabet he thinks best represents a healthy economy.
In addition to these discussions, the show covers a recent Oklahoma Supreme Court decision regarding a publicly funded religious charter school and how fragile global shipping supply chains could impact Federal Reserve decisions on interest rates.
A listener shares their experience of adapting their home to accommodate living with friends, and there is a special shout-out for Susanna’s wedding anniversary. Listeners are encouraged to send in questions and comments to makemesmart@marketplace.org or leave a voicemail at 508-U-B-SMART.
Has economic inequality improved or worsened since then? Peter Atwater thinks it has worsened since his initial description of a K-shaped recovery in 2020 when high-income individuals were bouncing back faster than those with lower incomes.
Peter Atwater joins us on Makemesmart to discuss why he believes income inequality has grown since then, why wage gains for low-income workers don’t tell the whole story, and what dangers come with having a K-shaped economy.
He also shares which letter of the alphabet he thinks best represents a healthy economy.
The Oklahoma Supreme Court recently made headlines by ruling against state funding for religious charter schools. And we discuss how fragile global shipping supply chains could impact Federal Reserve decisions on interest rates.
A listener shared their experience adapting their home to accommodate living with friends during these challenging times.
And we celebrate Susanna’s wedding anniversary! We encourage you to send us your questions and comments by emailing makemesmart@marketplace.org or leaving us a voicemail at 508 U B SMART.