Income inequality is increasingly
becoming attributed to the idea of “power couples”. The article explains that,
for example, investment bankers marry other investment bankers rather than a
high school sweetheart, or a lawyer will marry another lawyer, or a prestigious
client, instead of a secretary. The number of power couples is also increasing
which is building income inequality in America. What impact does this have? Of
all the causes of income inequality, power couples may prove one of the most
significant factors. In addition, it may be the most difficult to overcome.
The achievement gap between
children from rich and poor families is higher today than it was 25 years ago.
Power couples are also self-reinforcing due to higher income and educational
inequality, which adds incentives to search for a quality marriage match. In
spite of all of this, there could be a benefit to society. Since money and
talent becomes clustered in powerful families, many business creators and
innovators will receive their initial boosts early on in life, such as training
and higher education. This may enhance their eventual productivity. The economic
downside to this phenomenon is that as it becomes increasingly difficult for
individuals to “marry up”, families not well connected may feel disengaged, and
the significant, family-based advantages for some children may discourage
others from putting in effort. How can we lift up those that are disadvantaged?
The article states that universal preschool, further experiments with charter
schools, and higher subsidies or tax credits may help.
What do you think about the concept
of “power couples”? Are they beneficial to our society due to increased
productivity or are they contributing to a highly divided nation? What are some
other ways that we could assist those who come from families that are not
considered “power couples”?
Are we considered a power couple Skye;P? ... but in all seriousness, I wonder if the increase in "power couples" is due to the societal shift towards egalitarian marriages. It is probably important for young children to see that their parents are a "power couple" because it is a model for a more progressive society.
ReplyDeleteAre we considered a power couple Skye;P? ... but in all seriousness, I wonder if the increase in "power couples" is due to the societal shift towards egalitarian marriages. It is probably important for young children to see that their parents are a "power couple" because it is a model for a more progressive society.
ReplyDeleteI absolutely agree with you, Greyson, that it is important for young children to see that their parents are a "power couple". By creating a more progressive society, the wage gap may decrease in the future and lead to more income equality in the end for men and women.
DeleteI absolutely agree with you, Greyson, that it is important for young children to see that their parents are a "power couple". By creating a more progressive society, the wage gap may decrease in the future and lead to more income equality in the end for men and women.
DeleteThis is a very interesting article and a concept I was aware of, but one that I had not connected to the growing income inequality that we are facing today. I know that we discussed this briefly in Prof Gitter's Public Finance class last semester and as more and more people continue on to higher education and receive a bachelors, masters, or doctorate these individuals find those that are also working to better themselves and to gain a valuable education as those that they are attracted to. For people who are highly educated, often times those who do not have the same educational background as them are less likely to be a "possible specimen." Furthermore, I think power couples will only continue to grow as more and more people seek out higher learning as often this delays marriage and children. Finally, I think power couples do much more good in society than being bad for it. Power couples will be the futures leaders and the ones making the important decisions in our world and having a strong intellectual basis around yourself and your children will only create smarter and more innovative people of tomorrow.
ReplyDeleteI found your post very interesting, Skye. In some ways I think that the idea of power couples is a good thing, and in other ways it can be bad. On the positive side, a child with a power couple of parents will witness the success of their parents and will most likely learn the importance of hard work and education. On the other hand, power couples cause an unequal distribution of wealth leading to the lower class being more out of reach of important resources such as higher education. Because this is a hard thing to control, it is important that measures be taken to decrease the cost of higher education to allow for less wealthy individuals to afford to go to college and get better jobs in the future.
ReplyDeleteThis topic is interesting. I have not really thought about "power couples" and what effects they would have. I think that I would strive to have a significant other who is as successful as me, but I also think that it does not have to be in the same way. As long as they are happy with what they do and you are happy with what you do then it will all work out. But, I do think that it is a good thing for parents to be successful so that their children can watch and learn from them.
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