Required Reading: Ariely, Dan. Ted Talk: How equal do we want the world to be?
https://www.ted.com/talks/dan_ariely_how_equal_do_we_want_the_world_to_be_you_d_be_surprised
Watch all of the Dan Ariely Ted Talk video. It is 8 – 9 minutes long. Re-watch any parts you don’t understand on the first round. It is worth understanding.
Using your own words, answer these questions:
- What did people think the distribution of wealth really was in the United States? Be specific – how much did people think the bottom 20% was worth, the next group, the middle 20%, the next above them, and the top? You may make a quick table or list for this answer.
- What was the actual distribution of wealth at the time of this video? (BTW, it has gotten more unequal over time. The top group is now worth more and the bottom is worth even less.) You may make a quick table for this, or list.
- Describe the difference between what people believed was true and what was actually true. That is the ‘knowledge gap’ Dan Ariely refers to in his TED Talk.
- What did people think was a fair distribution of wealth, by quintile? (A quintile is 20% of the total people or scores arranged from low to high or high to low. There are 5 quintiles in Dan Ariely’s data – 5 groupings of people, from lowest wealth to highest.) You may just make a table for this answer.
- 5 quintiles in Dan Ariely’s data – 5 groupings of people, from lowest wealth to highest.) You may just make a table for this answer.
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