Oct 092013
 

Why does poverty persist? Is economic mobility still a real part of the American dream? And if you gave every poor family a big bucket of cash, would it substantially change the trajectory of its future?

Those are some of the questions we ask in our latest podcast, “Would a Big Bucket of Cash Really Change Your Life?”

Stephen J. DUBNER: The other day, we heard from a Freakonomics Radio listener named Thomas Appleton. He’d been talking with a friend about giving money to charity, and he had this idea:

Thomas APPLETON: I was wondering what would be the socioeconomic effects if the 50 wealthiest Americans each selected 50 needy American families and gave each one a one time gift of $50,000 and repeated the process every year with new beneficiaries? And what if these efforts were concentrated in, for instance, some of the poorest neighborhoods in Brooklyn?

DUBNER: That’s an interesting question. In economic terms, Thomas is asking about the effects of a geographically concentrated, one-time unconditional cash transfer – and whether, for instance, it will lead to real, intergenerational income mobility. (Although the way he put it is, I admit, much more exciting.) Alright then, why don’t we try it? Let’s see, 50 families, $50,000 each  – that’s $2.5 million a year. So who out there wants to fund our experiment? Hello? Anybody? Nobody? I guess this is what happens when you give your podcast away for free: nobody wants to pay for anything any more. All right, then, we’ll have to find another way to answer Thomas’s question.

 

Click here for more Freakonomics Shows

Listen to ESL Podcasts and AudioBooks with Transcript
Listen to ESL Podcasts with Notes
Learn English from Teachers
Practise Your English Online

Choose Meaningful Pre-Intermediate, Intermediate, Upper-Intermediate or Advanced Series

Source: Freakonomics

More Series for You:

 Leave a Reply

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

(required)

(required)