Since the onset of the COVID-19 pandemic, economists have been discussing the possibility of a K-shaped economic recovery. This means that high-income individuals are returning to economic stability faster than those with lower incomes. However, Peter Atwater, who first coined the term “K-shaped recovery,” believes that income inequality has only worsened since the initial recovery period. He explains how those at the top and bottom of the income pyramid have become even more divided.
Atwater shares his insights on why income inequality has grown, why wage gains for low-income workers do not tell the whole story, and the dangers of a K-shaped economy. Additionally, he discusses which letter of the alphabet he believes best represents a healthy economy.
The show also covers recent news stories, including an Oklahoma Supreme Court decision regarding a publicly funded religious charter school and how fragile global shipping supply chains could impact Federal Reserve decisions on interest rates. A listener shares their experience of adapting their home to accommodate living with friends, and there is a special shout-out for Susanna’s wedding anniversary.
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