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Marketplace®

Daily business news and economic stories
Dec 5, 2024

The myth of “the deserving rich and the undeserving poor”

“This idea that we’re doing this all on our own is a fiction,” argues Alissa Quart of the Economic Hardship Reporting Project.

The myth of “the deserving rich and the undeserving poor”
Spencer Platt/Getty Images

Segments From This Episode

  • What's behind bitcoin's surge?

    by Leanna Byrne

    The S&P 500 has had a good year — up 28% . Then there’s bitcoin, up 138% since New Year’s. The cryptocurrency crossed the $100,000 threshold for the first time overnight. Some of that is a bet the incoming presidential administration will work to keep regulation of the crypto industry light.

  • It'd likely take a prolonged economic slowdown to spark widespread layoffs, noted Nationwide's Kathy Bostjancic.
    pcess609/Getty Images

    While layoffs have been low over the last few months, the uptick signals that the labor market may be starting to lose momentum.

  • Has financial insecurity replaced upward mobility in the U.S. economy?

    by David Brancaccio, Ariana Rosas and Erika Soderstrom
    "We've been taught the story about the deserving rich and the undeserving poor for generations," said Alissa Quart. "This idea that we're doing this all on our own is a fiction."
    Spencer Platt/Getty Images

    And will any of that change in an economy under the next Trump administration?

The Team

The myth of “the deserving rich and the undeserving poor”