60-second adventures in economics video clip collection [Video file]. (2012). YouTube. Retrieved August 1, 2016 from https://www.youtube.com/results?search_query=the+invisible+hand+
a grade or level of subsistence -- means of supporting life; a living or livelihood -- and comfort in everyday life enjoyed by a community, class, or individual.
standard of living. (n.d.). Dictionary.com Unabridged. Retrieved July 30, 2016 from Dictionary.com website http://www.dictionary.com/browse/standard-of-living
Share Tweet EPI’s Family Budget Calculator measures the income a family needs in order to attain a modest yet adequate standard of living. The budgets estimate community-specific costs for 10 family types (one or two adults with zero to four children) in 618 locations.
the average cost of food, clothing, and other necessary or usual goods and services paid by a person, family, etc.
or
the average expenditure of a person or family in a given period.
source: cost of living. (n.d.). Dictionary.com Unabridged. Retrieved July 30, 2016 from Dictionary.com website http://www.dictionary.com/browse/cost-of-living
The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.
items of ownership convertible into cash; total resources of a person or business, as cash, notes and accounts receivable, securities, inventories, goodwill, fixtures, machinery, or real estate.
liabilities
moneys owed; debts or pecuniary (money-related) obligations.
A consistent increase in net worth indicates good financial health.
assets. (n.d.). Dictionary.com Unabridged. Retrieved July 30, 2016 from Dictionary.com website http://www.dictionary.com/browse/assets
liabilities. (n.d.). Dictionary.com Unabridged. Retrieved July 30, 2016 from Dictionary.com website http://www.dictionary.com/browse/liabilities
The fact that the United States has become increasingly unequal in terms of income, wages, wealth and opportunity has hit the mainstream and public demands for economic fairness have gone viral. As the economic think tank for the 99%, EPI is eager to seize on this renewed public interest in creating a fair economy, building upon our nearly three decades of objective economic research that has earned us respect and praise across the political spectrum. The Inequality.is website will bring clarity to the national dialogue on wage and income inequality, using interactive tools and videos to tell the story of how we arrived at the state of inequality we find today and what can be done to reverse course and ensure workers get their fair share.
Economic Inequality is: real, personal, expensive, created, and fixable.
By the time of this photo, I was 24 years of age. I had been working for a total of 16 months in two different restaurant operations. By this time, I completed all of the tasks that someone with my role could complete. I wanted more from myself. I continued seeking a degree and working 35 hours weekly. I was less of a young adult to myself and to society, meaning there was only room for improvement and less room for mistakes.
“Maybe it’s a way to buy that first car. It could be a way to support yourself in college. Or it might be the way you enter the corporate world. Whatever you’re looking for, McDonald’s can help you make your own way, with challenging careers, quality benefits and the best opportunities around.”
Although I didn’t buy my first car while working at McDonald’s, I have supported myself in college throughout 3 years en route to a two-year college degree.
At age 22, I had been to a university and community college, both of which I could not return to because of financial and academic reasons, respectively. I heard about people dropping out of college for a only few reasons; grades and finances. When the possibility of being ineligible for a return to degree-seeking status became apparent, I panicked for a solution. I began applying to all sorts of companies in search of a job, most of which I was barely interested in. I just knew I needed to work for income.
Working for income was not a phenomenon that I discovered, as many people work for a living, but the importance of being employed was revealed to me during a challenging circumstance as a student in early adulthood. Without car on an island of a college campus and prospective job opportunities in driving distances, how could I exercise my common sense to work while I was in school? Campus jobs were not ideal resources for me, as they provided less hours of labor than I worked in high school -- I wanted to consistent income. During a day of uncertainty, I spotted a McDonald’s while riding along in a venturing 2 miles away from campus in a classmate’s car. I went in, unexpectedly set up an open interview, and was asked to return for orientation.
When I chose McDonald’s as an employer of interest, I was not aware of the encompassing mission statement and values that McDonald’s conveyed as a corporation. I was an independent academic who became concerned about earning a degree while earning livable income. I needed to work for a company that suited my needs as a student-worker, and as a person who valued education and income equally. I needed a set amount of weekly hours, I needed to work on specific days, and I needed to work specific hours on those days. Although there was no specific job description at the time of my orientation, I learned that the everyday tasks and operations were suitable for my workplace desires.
Within 8 months, I was introduced to McDonald’s Corporate Ladder, exposing me to various roles that could be attained while exerting mental and physical effort. From there and on, I recognized economic inequality as the difference between employed and unemployed people. Of course, with a solid foundation to continue enrolling in college courses in pursuit of a degree, I’ve learned that there are more details which contribute to the concept of economic inequality.
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