
Speaker after speaker at the Democratic National Conventions blamed the Great Gatsby Curve on racism, as exemplified by the Washington Post's reporting: "With six words, Michelle Obama rewires America’s conversation on race. Most of us, Michelle Obama said, “will never benefit from the affirmative action of generational wealth.”
Earlier this week, Kayla Zhu reported on the Global Gatsby Curve in a piece titled Ranked: The Countries With the Highest Wealth Inequality and Justin Weinberg's, reviewed a new study by Ye Sun, Fabio Caccioli, Xiancheng Li, and Giacomo Livan published in the Journal of the Royal Society Interface, on the existence and extent of an Academic Great Gatsby Curve.
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| In 2023, the top 10% of the world owned nearly three-quarters of the world’s wealth, according to the World Inequality Database |
Meanwhile, in a speech in 2011, economist Alan Krueger, Chairman of the Council of Economic Advisors introduced The Great Gatsby Curve. It illustrates the connection between concentration of wealth in one generation and the ability of those in the next generation to move up the economic ladder compared to their parents. The curve shows that children from poor families are less likely to improve their economic status as adults in countries where income inequality was higher – meaning wealth was concentrated in fewer hands – around the time those children were growing up.
Can you spot the difference in the description? It's The Great Whacky Curve
Abraham Maslow's ‘law of instrument’ or Maslow’s Hammer precedes The Great Gatsby Curve and illustrates The Great Whacky Curve - "If the only tool you have is a hammer, you tend to see every problem as a nail.”- refers to an over-reliance on a familiar or favorite tool. While such tools can be very useful at times, over-reliance can result in approaching problems in ways that are not always helpful or even destructive. Such as the current education system in the United States.
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Whether it is The Great Gatsby Curve, or The Great Whacky Curve, the US Education System has exacerbated the problem. Sir Ken Robinson, argues that our current educational systems are doing what they were supposed to - appropriate for the industrial age, still based on a industrial paradigm of education where education is standardized, is about conformity, and kids, who are living in the most stimulating age in history, fail to see the point of going to school, which is about ‘finding the right answers to pass the tests’ rather than about stimulating divergent thinking. Quite the opposite.
The Great Whacky Curve Effect
When a Degree Meant Something
In the past. a degree meant something: the degree holder was responsible, hard-worker, independent and most of all, was well versed in their field of study.. If that person left and went to another state, that would be a brain drain. It is no longre brain drain but more like dead weight augmentation for the receiving state.
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| The cost of manufacturing useless college degrees increasing exponentially |
Then Pew, in a gross misapplication of the Theory of Allocation fails to recognize the Great Whacky Curve Effect. There's a positive correlation between a carpenter's work and the use of a hammer, for example: Pew Research figures that "the rise in economic inequality in the U.S. is tied to several factors. These include, in no particular order, technological change, globalization, the decline of unions and the eroding value of the minimum wage. Whatever the causes, the uninterrupted increase in inequality since 1980 has caused concern among members of the public, researchers, policymakers and politicians. One reason for the concern is that people in the lower rungs of the economic ladder may experience diminished economic opportunity and mobility in the face of rising inequality, a phenomenon referred to as The Great Gatsby Curve.
It's not rocket science. Show me your priorities and I will show you what you need to work on. Keep pumping money into the education industrial complex and you can be sure The Great Gatsby Curve The “Academic Great Gatsby Curve” in Philosophy and The Great Whacky Curve will continue to curve.


















