Chrissy, Amazon, Paddy Hirsch discussed on The Indicator from Planet Money
None of this is saying that inheritance is your destiny, but it saying it comes close to what I say in the book is we've moved to that nirvana of the middle class. It true talk. Chrissy. But this doc, Chrissy is headed Dettori meritocracy you essentially a born into it. And then the effect of this is I guess a backlash of sorts the effect of this is to leave the people in the mixed neighbourhood who can't move. It leaves them more frustrated more, you know, sensing that capitalism has a wonderful set of opportunities. But they're not opportunities for me. And so what accompanies all this, and you see this in the United States is social destruction innocence, the breakdown of families growing divorce rates growing, pregnancies, of course, the opioid epidemic to to some extent. These are all social tragedies that fall on the comic tragedy. What are some solutions to our current s- situation? Well, I would argue that obvious onces ought to have more growth in the areas that are falling behind. So it doesn't matter that the country's growing at three percent. If the coastal cities, New York's the San Francisco's are going growing at five and six, but you know, steal Sedale annoy is growing at minus one or two. So what we need is more a better distribution of growth, especially in the areas that haven't recovered since the financial crisis. Now, what sometimes people immediately jumped to his that means we need centralized place based policies, we need this economic jargon for saying the policy should be targeted at a specific area. For example, the option it is owns the administration has come up with which essentially reward investment in some of these areas is touted as a way to spread activity, but but think of one of the major. Recent events when Amazon basically was told by the residents of of queens that it was not so welcome even though it was. Yeah. I mean, this is what every Luchetti supposed to be dying for right, more jobs. Good jobs. The reality is perhaps those jobs want appropriate for that community. And instead of that being jobs for the boys in the in the neighborhood or the girls in the neighborhood. It could have been jobs for outsiders. The bottom line is when we look at examples, Amazon, what should have worked what everybody has been touting as the answer community turned around and said, no that's not the answer we want and that should make us think. Thank you so much for coming on and talking about your buck. It's so interesting, you must come. This episode of the indicator was produced by Dr is RAFI on edited by paddy Hirsch, our intern. And fact checker is willa Ruben and the indicator is a production of NPR..