Disparity growing between the richest and everyone else
KYW News Radio
In "Princes & Paupers," a four-part series from KYW Regional Affairs Council, reporter Pat Loeb looked in-depth at income inequality in Philadelphia. David Elesh, co-director of Temple's Metropolitan Philadelphia Indicators Project, said data shows that income inequality is already working against the regional economy: "Seventy percent of jobs are now outside the city, so lack of a car meant that you did not have (access to) income." According to Bob Kaufman, chair of the Department of Sociology at Temple, the clearest social casualty of income inequality is upward mobility: People have a harder time climbing the ladder when the rungs are farther apart and, he notes, being born wealthy is the best way to become wealthy. Temple economist Bill Stull said the free market created the disparity between the rich and poor, so it's unlikely to correct itself: "No, absolutely not — it's definitely not going to correct itself!" (The link above is to part one; links to the other three parts are available at the bottom of that page.)