Attainment of a four-year college degree is a key predictor of economic and social outcomes in America.
Increasing mortality rates in America are linked to the working class, highlighting the importance of obtaining a college degree.
Relational inequality between the educated elite and working-class individuals contributes to political disenfranchisement and tensions within society.
Deep dives
The Impact of Education on Mortality Rates
There is a significant difference in mortality rates between individuals with a college degree and those without. Life expectancy for those with a college degree is similar to that of the best-performing countries in the world, while increasing mortality is seen among the working class. This divide is not simply a matter of income inequality or race, but a reflection of the importance of obtaining a four-year college degree.
The Influence of Postmodernist Thought on Politics
Postmodernist thinkers, such as Michel Foucault, have had a significant impact on shaping politics and discourse. The concepts of discourse critique and strategic essentialism have emerged from their work, enabling the deconstruction and empowerment of marginalized communities. Edward Said and Gayatri Spivak are notable figures who have expanded on Foucault's ideas and encouraged a more active politics in challenging Western superiority and injustices.
The Impact of Relational Inequality
Relational inequality, which encompasses differences in social standing, power dynamics, and treatment, plays a crucial role in understanding overall inequality. The increasing divide between the educated elite and working-class individuals in America highlights the significance of relational inequality. The relegation of the working class to second-class citizenship contributes to political disenfranchisement and tensions within society.
Challenges in Addressing Inequality
Addressing inequality requires examining multiple dimensions beyond income and wealth disparities. Issues such as corporate power, lack of political representation, and the erosion of societal support systems contribute to the perpetuation of inequality. Rethinking market-oriented policies and embracing ideas like place-based policies and industrial policy can pave the way for a more equitable society.
Understanding the Complexities of Happiness and Income
The relationship between income and happiness is multifaceted. While higher income can provide access to experiences and material pleasures, it may not necessarily lead to deep satisfaction in life. Different forms of happiness, such as momentary pleasures and overall life satisfaction, are influenced by various factors. It is important to recognize the significance of relational equality and the non-monetary aspects that contribute to overall well-being.
Angus Deaton is the Dwight D. Eisenhower Professor of Economics and International Affairs at Princeton, Emeritus, and the recipient of the 2015 Nobel Prize in Economics. He is the author of The Great Escape: Health, Wealth, and the Origins of Inequality and, with Anne Case, of Deaths of Despair and the Future of Capitalism. His most recent book is Economics in America: An Immigrant Economist Explores the Land of Inequality.
In this week’s conversation, Yascha Mounk and Angus Deaton discuss why he thinks the core predictor of economic and social outcomes in America is not primarily race or class, but one’s attainment of a four-year college degree; why America (and Scotland) are unique among wealthy, industrial nations for their increasing mortality rates; and how to best explain the growing sense of social dislocation that contributes to so-called “deaths of despair.”
