Bootstrapping #Fail: Why the American “Solution” to Systemic Problems Keeps Falling Short

This week’s episode holds two complex truths simultaneously: That sometimes, the answer is working harder, and other times, the answer is policy, interdependence, and community. Sure, individual responsibility is important—but when we try to solve complex, collective problems with individual exceptionalism, we create a recipe wherein quality of life for all but a select few worsens over time. 

Our individual wealth accumulation and experience of personal finance do not exist in a vacuum—they exist within the context of the economic policy decisions and cultural norms of our time. 

You can work on your metaphoric swimming and freestyle upstream for as long as you’ve got the energy to do so, but the strength of the current is outside of your control. Usually, we talk about your swimming. Today, we’re talking about the current.

Plus, this episode features an interview with Rebecca Walker, activist and author of Women Talk Money (https://www.simonandschuster.com/books/Women-Talk-Money/Rebecca-Walker/9781501154324). Get ready!

To learn more about our sponsor, Vin Social, check out http://vinsocialvip.com/.

Episode transcripts can be found at https://www.podpage.com/money-with-katie-show/.

—

Mentioned in the Episode

• ChooseFI: https://www.choosefi.com/
• Beyond the #Girlboss and Fixing the Motherhood Penalty: https://moneywithkatie.com/blog/the-girl-bossification-and-the-motherhood-penalty
• 40% of Americans have not traveled outside the US: https://www.forbes.com/sites/lealane/2019/05/02/percentage-of-americans-who-never-traveled-beyond-the-state-where-they-were-born-a-surprise/?sh=3a307eb82898
• Trick Mirror by Jia Tolentino: https://www.penguinrandomhouse.com/books/567511/trick-mirror-by-jia-tolentino/
• Organization for Economic Cooperation and Development study: https://data.oecd.org/earnwage/gender-wage-gap.htm
• Pew Research Center on paid family leave: https://www.pewresearch.org/fact-tank/2019/12/16/u-s-lacks-mandated-paid-parental-leave/
• Trey Lockerbie's tweet: https://twitter.com/TreyLockerbie/status/1572417849351868418?s=20&t=y8rcaIBB6ZKFUAxIkSxR0g
• US households with children ages 3-5 in 2021: https://www.statista.com/statistics/679812/number-of-households-with-children-by-age/
• Joy Borkholder's Crosscut feature: https://crosscut.com/news/2022/01/why-child-care-us-lags-behind-much-world
• The Way We Never Were by Stephanie Coontz: https://www.basicbooks.com/titles/stephanie-coontz/the-way-we-never-were/9780465098835/
• Rational Reminder: https://podcasts.apple.com/us/podcast/the-rational-reminder-podcast/id1426530582?i=1000569872619
• WSJ feature on the wage gap: https://www.wsj.com/articles/gender-pay-gap-college-11659968901
• The Whiteness of Wealth by Dorothy A. Brown: https://www.penguinrandomhouse.com/books/591671/the-whiteness-of-wealth-by-dorothy-a-brown/
• Rebecca Walker's feature in Oprah Daily: https://www.oprahdaily.com/entertainment/books/a39431571/rebecca-walker-book-women-talk-money/

—

Follow Along

- Listen to Money with Katie here: https://www.podpage.com/money-with-katie-show/

- Read Money with Katie: https://moneywithkatie.com/

Follow Money with Katie!

- Instagram: https://www.instagram.com/moneywithkatie/

- Twitter: https://twitter.com/moneywithkatie

- TikTok: https://www.tiktok.com/@moneywithkatie

Subscribe to Morning Brew

- Sign up for free today: https://bit.ly/morningbrewyt

Follow The Brew!

- Instagram: https://www.instagram.com/morningbrew/

- Twitter: https://twitter.com/MorningBrew

- TikTok: https://www.tiktok.com/@morningbrew

Learn more about your ad choices. Visit megaphone.fm/adchoices