inequality is not only about the fiscal system. inequality is there in the life of people.ake the 19th century novels by balzac, you have wealth everywhere, not only because it matters for taxation, but the life of people. it has an impact on who you're going to marry with, where you're going to go to school. sometimes you can go to -- so it is very important for our society and our social life in general. this is what i'm interested in. >> there are those who say you are the first economist looking to make a significant point who also cites jane austen and other sources. >> this was part of the way i asked the question to myself. wealth is everywhere. it is asking about the consequences for the life of these people. so you have this famous discourse where the student really wants to be reached, your degree is not going to be sufficient. your wages not going to be sufficient. you have to marry this young lady even though she is not beautiful. for a long time, i have been asking myself, is this how a society works or only that balzac was obsessed with his own debt? in fact t

>> lessening of income inequality? well, the technology benefits and allows everyone to be more productive and even more so for the lowest productivity groups, then you would have a lessening of inequality. i think positive outcome is possible. we want to put technological and marketing forces in common interests and to make sure they always act in a common interest and every group benefits from growth and globalization in a balanced manner, then, you know, we need an adequate democratic institution to make sure this actually happens. >> charlie: how many copies have sold so far? >> i think about 400,000 in the english language, and a about 100,000 in -- >> charlie: so half a million copies? >> at this stage. >> charlie: at this stage. how will it change your life? >> i don't know. i'm not sure it will change my life all that much, but, you know, i'm certainly doing more tv shows with you and other great people, so it's a nice opportunity to talk and, you know, i'm very glad to do that. >> charlie: but do you feel some

it's the form of inequality, the nature of inequality, the sources of inequality. so the problem is that inequality of outcome, typically translates into inequality of opportunity. america likes to think of itself as the land of opportunity, the american dream. the statistics show that america is among the advanced countries with the least equality of opportunity. something that's hard for us to accept. it's something hard for others to accept. but that's what the numbers show. >> so this is why thomas picketing in his book, "capitalist of the 21st century," is concerned about this transfer of wealth that's about to happen transferring their money to the next generation. >> that's right. and a quite legitimate concern th we are creating a new plutocracy. and so what i've been trying to argue in this paper is that doesn't have to be. we can have a tax system that can help create a fairer soci y society, only ask the people at the top to pay their fair share. it's not asking a lot. it's just saying, you know, those in the top 1% shouldn't be paying a lower tax rate t

[laughter] >> but the inequality you argue from two world wars that less since inequality throughout much of the 20th century. but the reverse might be true? was a coincidence on the eve of world war wine we have historic levels of inequality? if you look now you have high a inequality and battling for resources. you can demonstrate a connection but does it go the other way? >> sometimes if you don't manage of a peaceful way so to blame your neighbor and to see that one week ago. because they don't know how to serve the domestic equality. there is always someone to blame. now let me say the of roles that war has played. but there are more peaceful ways. with the rise of three schools of taxation where partly in response to the world with the response of a democratic process with the right progressive taxation in debate team 20s in the '30's with the revolution and this new institution and issues. there is a lot to learn. >> and with the globalhu wealth tax with other forms of property has been called utopian but the state income tax was called utopian. could you talk about the experi

it's also a question of inequality of opportunities, inequality of access to health services, inequalityaccess to education, inequality to access to employment opportunities, and these have been also growing, and they have been polarizing, they have been concentrating on the wealthiest, and you have been left now with a legacy of a very large group of people with lower, dropping wages that are also missing opportunities, and the problem is they're going to also leave their children a legacy with lower possibilities. >> woodruff: so what do you see as the main remedy? >> the main remedies are activation policies, meaning get services in the governments that will get the people who are unemployed or seeking for employment with the job opportunities. this is not being done enough. the united states spends one-fourth of what the rest of the o.e.c.d. countries spend on this particular service, seeking employment with the employment opportunities. second, skills -- education and skills. there's a big mismatch between the skills and what the market is demanding. therefore, people have diplomas

climate change like economic inequality are symptoms of the same problem. the same problem of those with power with rules in their favor and everyone else being left behind. [applause] >> we have a ton of questions submitted on lenticular issue that was student lending. i don't know what the situation is in france but in the united states but there are two people lapierre still paying student loans. [laughter] and a variety of different questions but barbara from arkansas and they asked if you would support eyehole some version of student loan forgiveness that it is so on stabled there may have to be some of forgiveness? >> some fax. he will sit down on these. right now we have 1.2 trillion dollars of student loan debt. 40 million americans are dealing with outstanding student loans. mostly young people but people 60 and over collectively about about $43 billion of student loans. think about that. people to guaranteed other loans and went back to school later. we have a lot of debt but it is starting to be so much it is striking down the economy. it is star

we discussed issues like income inequality, low wages, economic mobility, and we will bring you that special panel discussion. >> i'm interested in talking to all of you about some of the worries we have about this economy and the role of government in being a partner in meeting some of the challenges. i wanted to start, we came across this picture which i think might be a startling example of government overreach. we're going to put that on the screen for everybody to look at. now, monty, this is at chipotle, and -- >> it's an outwrarage. >> by all accounts, that's a foul, is it not? >> it's outrageous. we just can't accept that. >> my boys would not do that. way back, now you're like a model, but way back in the day when you used to go to mcdonald's, you were never guilty of an egregious act like that, were you? >> i was trying to think if i always successfully avoided being photographed. >> right. >> committing egregious -- no, i used to go -- i violated all the health department rules. i'd get the fries right out of the -- >> here is the irony of that in case you blame the press.

but what about income inequality. can she run on that? we have a special report. >> when it comes to children, we need to be there for them. >> thousands of illegal alien children crossing into the u.s.a. from the south. wait a minute. i thought that border was secure. what the heck is going on? we will have a factor investigation. >> also tonight, charles krauthammer and senator ted ted cruz on whether the obama administration can ever come back from the sergeant bergdahl debacle. caution, you are about to enter the no spin zone. the factor begins right now. ♪ ♪ >>> hi, i'm bill o'reilly. thanks for watching us tonight. we have a very important program for you, including a story on thousands of illegal alien children somehow crossing into the u.s.a. and the feds seem powerless to stop it. also the latest on the bergdahl chaos. but first, the talking points memo on hillary clinton and money. last night, the former secretary of state told diane sawyer that, yes, she makes millions of dollars on the lecture circuit and yes, her husband does

things can be done about inequality. inequality is not natural. the occupied moment i think was very effective at bringing the 1% and inequality to the forefront. it's important to understand the dimensions of in the baltic to the distance to the top, the amount of room at the top and amount of room near the top and the pathways from the bottom to the middle and go to things that are very valuable the policy. we saw decades of exactly the response as you would expect when you would invest in a widely shared infrastructure and human capital. we saw inequality drop rapidly. those institutions went away and sure enough inequality has reared its ugly head. i don't think we need to see inequality as a permanent fixture on the landscape. i do think it will take a lot of organizing and a lot of policy to reverse the course. >> what are some of those policies? >> thanks for asking. so let me begin with i think we need a prime mover. i think it's very difficult to picture income inequality without reworking the editions of the capital and labor balance in

and in fact we can do a lot to reduce inequality.rt on fast food showing it's over 1,000 times to 1, the ceo to average worker pay gap. employers can actually afford to pay more. so many of these low wage employers like walmart spend more money using just surplus cash to buy back their own stock in the stock market and that could actually give their lowest paid employees really middle class jobs. and of course what the president can do. the president can still with executive orders, the way that he did with the executive order in the state of the union raise the minimum wage for federal contractors. we actually just issued the report this week that showed that there's actually a huge federal purchasing footprint that can be used to say, you know what, we're not going to actually give our federal contract dollars and health care service payments to low road employers. we're going to do it to high road employers and lift up 20 million americans. >> so even in the face of congressional opposition, there are things that can be done. jare

draws the conclusion that if you consider yourself a hot person you are more likely to support inequality what's more the research concludes that if you think you're an ugly person you are more likely to protest inequality how's that for bunk for the study researchers asked about five hundred study participants about their own attractiveness and their ability to empathise then they were shown a video about the occupy movement after that participants were asked whether or not they wanted to donate a prize of a fifty dollar lottery ticket to occupy the researchers found that participants who perceive themselves as less attractive were almost twice as likely to donate to the movement conversely researchers found that participants who thought they were hot were less likely to donate to social causes but deal with. peter bellamy one of the researchers told the organization campus reform that they found cues to suggest that people who think of themselves as more attractive they belong to a higher social class and so are therefore less concerned with inequality because they found that from it pe

if we want to fix the problem of income inequality, we have to first understand income inequality, so today i will be working for tca which stands for total communication action which is a nonprofit supporting low income families in new orleans for 50 years. thousands come through these doors for employment assistance, child care, tax filings, food stamp applications, food pantry ap supplies and utility assistance. and some come here just to yuse the computer. their mission s to help move people from poverty to self-sufficien self-sufficiency. it is a huge operation, and taking up an entire city block. thelma phrench is the president and the ceo of tc, and today, she is going to give me my marching orders. >> hello. >> welcome to total community action. >> i'm morgan spurlock. nice to meet you. >> pleasure to meet you. >> so kind of working and living down here every single day, how do you see the income inequality in america? >> well, unfortunately i see the gap widening and the ability of people to close it more difficult, but i don't believe that everyone starts with a equal chance

even if we do a good job, there will be inequities, there will be inequality. inequality has become an important be issue in american politics -- an important issue in american politics. it has been in the past, it will be, presumably, in the future, and it is a political problem. what to do about people who get left behind. and in any economic system, some people will be left behind is a problem that americans and other people face. >> would you care to address the hold allowing out of the middle class -- hollowing out of the middle class? this is not a few textile workers at the bottom, this is about bedrock, middle class americans. what are you suggesting to help them? >> well, let me refer you to my previous book, written with thomas friedman of the new york times, entitled "that used to be us: how america fell behind in the world we invented and how we can come back." we devote a couple of chapters to what economists call the phenomenon of skills polarization where some people's skills are very valuable and some people's skills are not. i'm afraid i don't

if we want to fix the problem of income inequality, first we have to first understand income inequalityso today i'll be working for tca. tca stands for told community action. a non-profit that's been supporting low-income families in new orleans for 50 years. thousands come through these doors for employment assistance, child care, tax filing, food stamp applications, food pantry supplies, utility bill assistance. >> is it a regular or is it a disconnect? >> some come here just to use the computer. their mission -- to help move people from poverty to self-sufficiency. it's a huge operation, taking up an entire city block. thelma french is the president and ceo of tca and today she's going to give me my marching orders. >> hello. >> welcome to total community action. >> i'm morgan spurlock. nice to meet you. >> pleasure to meet you. >> so kind of working and living down here every single day, how do you see income inequality in america? >> unfortunately, i see the gap widening and the ability for people to close it even getting nor difficult. but i do not believe that everyone starts wit

the purpose of that program was to address the inequity in the representation and funding of the city arts. you've heard my colleagues talk about the population being 57% people of color. well, the funding has traditionally always awarded grants to the mainstream traditional arts organizations. now, i am a long-time supporter of the san francisco ballet, the opera and the symphony. however, to continue this gross inequity is just a disservice to the unrepresented communities of colors and the great social injustice for all san franciscans. so, i request that you increase the funding at least by 10% of what's already been allocated to these under served communities. you can look at the demographics and you can look at the funding as it is being disproportionately awarded, a lion's share going to the traditional organizations that always receive the funding. so, you've heard the artists. and i was born here in 1946 and i really request that we have some parity and equity now. thank you very much. (applause) >>> hello, my name is samantha leo and i work for the san francisco museum of mo

and one is inequity, excessive inequity hurting growth. and the answer seems unambiguously yes. it's hurting sustainable growth. and the second study we did which goes against conventional wisdom was, is redistribution policies if adequately articulated, is redistribution policies a break on growth which is conventional wisdom. everybody assumes for a long time that if you do redistribution then people will not be attracted to producing more, earning more, doing more because the more is going to other people. >> rose: you admire her. >> i admire her. again she's defining the problem. i'm not hearing a solution in it. do you know what i think the best redistribution is. >> rose: exactly what i want. >> the best redistribution policy is, obvious for aggressive talk system, but the bells redistribution is to spend more money and have the best educational system. that would be great redis tribution. take tax revenue of which i pay a higher percentage and poor people pay zero and use it to educate everybody which i won't take advantage of because my kids go to private schools. that's

income inequality is a very destabilizing thing in the country in other words it's responsible for the divisions in the country the divisions could get wider if you can't legislate you can't deal with problems you can't deal with problems you can't drive growth and you can't drive the success of the country it's a very big issue and something that has to be has to be dealt with oh look while it's great the world's richest banker actually recognize that income inequality is a real thing or to take someone who had millions of people in the financial ruin seriously not to mention income inequality is exactly a pressing problem for blankfein last year goldman sachs's top man took home a cool one thousand million dollars in stock options and bonuses on top of his two million dollars salary and i guess it to be expected considering that a new study from the economic policy institute found that the average c.e.o. pay is now fifteen point two million dollars that's a nine hundred thirty seven percent rise since one thousand nine hundred seventy eight according to a f l c i o c.e.o.'s of fortun

income inequality is a very destabilizing thing in the country in other words it's responsible for the divisions in the country the divisions could get wider if you can't legislate you can't deal with problems you can't deal with problems you can't drive growth and you can't drive the success of the country it's a very big issue then something that has to be has to be dealt with oh look at the world's richest banker actually recognize that income inequality is a real thing hard to take someone who had millions of people in the financial ruin seriously not to mention income inequality is exactly a pressing problem for blankfein last year goldman sachs is top man took home a cool one thousand million dollars in stock options and bonuses on top of his two million dollars salary and i guess it to be expected considering that a new study from the economic policy institute found that the average c.e.o. pay is now fifteen point two million dollars that's a nine hundred thirty seven percent rise since one thousand nine hundred seventy eight according to a f l c i o c.e.o.'s of fortune five hun

what we're talking about when we look biographically, issues involving the inequality. as secretary of state, the notion of inequality for her was a guiding principle in why we needed to stabilize in certain countries, that growing inequalities are actually a grave danger for societies. this is something that has guided her as first lady, as a senator, as the secretary of state. it's been her principle. so inequality, hillary clinton, go back and look at her words to the new america foundation recently -- >> i just think this is going to be a tough sell for her. hillary clinton is going to have the closest ties to wall street out of he candidate in either party. she was getting paid $200,000 per speech by the biggest wall street firm. the idea she's going to be able to tap into this elizabeth warren movement is pretty ridiculous and doesn't help when she's lamenting her $100 million as having trouble putting food on the table. >> if we're interesting in talking about people who dared to make a living and been successful, it's also worth noting that for her, the charitab

to address rising income i inequality. in chicago mayor rahm emmanuel created a task force to look at the idea. but does it stand a chance of happening any time soon? to answer that we're joined by the windy city. rex, great to have you on the program. why is this happening on the committethe chicago now? >> there is concern about income inequality. that has sparked rallies, targeting $15 just like they did in seattle, mainly arguing that that's what it takes. if you want to have a living wage you need to be making this much. >> how divided is this public on this issue? >> there have been strong signs that people would like to see just workers would like to see this happen as you might assume. i've talked to small business owners who are concerned about it and feel like it would hurt their ability to keep people much less bring additional people on if they needed to. the mayor with his task force may be trying to stall a little bit, it seems. the tas grassroots group is pushing hard, and the mayor's task force may be a way

inequality is bad because you want mobility. the place i want to be, isn't it better for me to pull up the ladder behind me. and it makes things better because then i can be charitable with money that i don't even miss to all the poor people i can easily find. >> no, it is better to -- >> thank you, thank you. >> of course. >> in fact, this country has progressive taxation of income. and somehow we focus on that since the 1980s because the country is moving in a different direction. >> because reagan came in and it was morning in america. >> it was morning in america except that the growth performance of america was actually better in the 60s and 70s that in the 1980s. so if you look at that you have inequality everywhere except the growth. if you take the growth performance of the u.s., you have 1.5 percent growth rate. so you know, compare that to people like you. >> this is not a good deal for the rest of the population. >> really -- >> well. >> they should get their own tv show. thomas, thank you so much for joining me. (che

you'll also notice that since the marginal tax rate started to plummet inequality started to explodeeven more striking during those same thirty three years since reagan took office and started cutting taxes on the rich income levels for the top one percent have exploded while income levels for everyone else pretty much stayed flat coincidence i think not creating a middle class is always a choice in my embracing of reaganomics and cutting taxes on the rich we decided back in one thousand nine hundred not to have a middle class within a generation to george herbert walker bush saw it and in one nine hundred eighty correctly called it voodoo economics and we are still in that era of economics of reaganomics as president obama recently pointed out reagan was a successful revolutionary this of course is exactly what conservatives always push for when wealth is spread more equally among all parts of society people start to expect more from society and start demanding more rights and that leads to social instability which is feared and hated by conservatives even wrote and liberals like th

her colleague at the black legal scholar is looking at the meritocracy and the inequities we have anamerican society and judging merit. it's a test stocker free -- test stocker c. so bonnie is questioning, what is that we use to measure, who has merit, who gets to go to the elite colleges? who they saw the opportunity in america. so the two women looking at different aspects of justice in america are powerful, powerful books are very proud of. >> a very quick look at some of the books coming up a beacon press in the fall of 2014. this is a tv on cease and two. >> we believe that all men are created equal. yet many are denied equal treatment. we believe that all men have unalienable right, yet many american do not enjoy those rights. we believe that all men are entitled to the blessing of liberty, yet millions are being deprived of those lessons. not because of their failures, but because of the color of their skin. the reasons are deeply embedded in history and tradition in the nature of man. we can understand without rancor or hatred how this all happened. but it cannot continue. ou

the very idea of inequality is so problematic for public discourse in this country.core of the american dream, our narrative is the idea of social mobility. >> i don't think government can do this alone, 'cause it's a private economy. and the one thing i think the conservatives are often right about halfway is that -- [ laughter ] i will tell you what i mean, is that culture really matters. >> by the way, culture matters government, too and a big unaccountable democracy. >> and who had the smallest government workforce since eisenhower? me. i believe that >> you declared the era of big government over. >> yeah, but not -- i didn't declare the era of weak government that had nobody at home at the s.e.c. before the financial crisis. >> i agree with that, too. i agree with that, too. >> bottom line, one thing we need to do to take a positive step toward dealing with this kind of income inequality that's really affecting workers? >> understand how talented the group of people is in the united states who don't have education and who don't have much experience and also the

in the 2007-2008 campaign her economic program was focused on inequality before inequality was vogue.n, talked about how ceo pay was running away from worker pay. she actually proposed regulating derivatives in the fall of 2007 before anyone was talking about these issues, so i actually hope people will judge her on the policies she's put forward and the arguments she's making. if they do, they will see she's talking about the problems of the middle class and people who are getting into the middle class and trying to get into the middle class for her entire career. >> do you think it will be an issue for her, the comment, the dead broke comment -- everyone has slips of the tongue. i don't think anyone would say that was a perfectly framed response. it was a bit awkward. it was a bit tone deaf, but do you think she's going to -- that is indicative of a bigger issue she'll have with the democratic base around issues of inequality and around things like the big speaking fees she's taken from places like goldman sachs, the fact that she sat on the board of walmart? >> i don't think that s

people people know that the south has had a tough time for a long time but what's your sense of inequality in america even though this wasn't included on the chart what's your sense of it and do you think that the map mirrors inequality today is as we know it you know it's hard to say based upon that but you know in the coastal regions where you had the housing bubbles that's where we saw the most inequality in terms of you know the richest people live in those areas we're talking. san francisco boston new york washington d.c. those those sorts of metropolitan areas are where you saw the the the biggest housing bubbles as well you know you see great inequality i think really it's the median income as well as the grinding poverty in these places that are in orange and that are the real trouble points that we're writing now we talk about secular stagnation a lot and you know the new normal following the financial crisis but you know as i mentioned before that the south tough times we kind of know that but there does this have anything add anything new to the story of a secular stagnation at

support from dcyf and sf staff, commissioner [speaker not understood] for recognizing the existing inequity and prioritizing this issue by authoring new policy of the board of education that will serve all students, to the board of education for unanimously passing a policy and to staff for working on the plans to make this happen. supervisor jane kim for authoring the board of supervisors resolution, supervisor farrell for recognizing the need to hold a hearing on this issue and therefore emphasizing the importance of ensuring that

the two studies are one is inequality, excessive inequality -- hurting growth? yes.t is hurting sustainable growth. the second study we did, which was a against conventional wisdom, is redistribution policies are redistribution policies a brake on growth? everybody assumed for a long time that if you do redistribution, then people will not be attracted to producing more, earning more, doing more, because "the more" is going to other people. >> you admire her. >> i admire her. she is defining the problem. i am not hearing a solution. you know what i think the best we decision -- best redistribute policy would be? we have a tax system. for us to spend more money and have an effective educational system. that would be a great redistribution. take tax revenue of which i pay a high percentage and poor people pay zero, and use it to take advantage of. which i will not take advantage of because my kids go to private school. >> why don't we do it? >> i don't know. >> a lot of other people believe that unless people like you and the government and others come together, we wil