The New Normal

There are huge debates on economic systems currently utilized in our world today.  Even within our own nation there is a debate on the continued usefulness of capitalism and the increasing popularity of socialism.

But there are psychological constructs at work beyond a sense of fairness and utility in economic systems.  It is not just about fair compensation for labor or the greed of American corporations.

Read the following article and answer the questions:

• College Student: My Generation Is Blind to the Prosperity Around Us

Summarize the article.

1. What is the significance of the US poverty line compared to the average of the world?  (In actuality, the US poverty line is about 11 times higher than the lowest poverty line.)
2. What do you believe is prosperity?
3. What is income inequality?
4. What do you believe is the problem with income inequality?
5. According to the article, what have socialism and capitalism given the world?
6. What information would challenge this assumption?