Showing posts with label 14 The Economy. Show all posts
Showing posts with label 14 The Economy. Show all posts

Close-up p 89. Money and Morality. Speaking


 








 
PART ONE. MONOLOGUE. Use the pictures above and the questions below to do a five-minute presentation on the topic of money and morality.

1. Are fare dodging, tax evasion, and illegal downloads the same as stealing?
Why? / Why not?

2. What affects people's behaviour if they receive money by mistake. Is it the difference between right and wrong? Their need to be honest? Or their belief in luck?

3. What would you do if your bank credits your account by mistake? What should be done?

4. How do you feel if a shopkeeper or taxi-driver gives you too much change?

5. What would you do if a restaurant forgot to charge you for something?

6. What affects people's behaviour when they find something valuable? Does the ability to put ourselves in the owner's position play a significant role?

7. Do you believe in the expression: "Finders keepers, losers weepers

8. Have you ever returned something to its owner?

9. What can you do if you find a lost wallet or credit card?

10. Is wealth distributed fairly? Why? / Why not?

11. Is it money or lack of money that is the root of all evil?

12. What is a black market and why does it exist? 

13. What gives rise to the informal economy

14. What economic activities are examples of an informal economy in your area? 

15. Do many Spaniards live at or below the poverty line

16. Are food banks and soup kitchens reporting giant spikes in demand in your country?

17. Are we losing the war on poverty? Should we give homeless people homes?

17. Has COVID-19 taken a heavy toll on employment and businesses? Is the place where you live a hard-hit area?

18. Why are wages so low?

19. What is your take on the common perception that somebody who is poor or living below the poverty level is lazy and is simply living off government handouts

20. Do even working people sometimes need handouts to make ends meet?

21. Has the gap between the haves and the have-nots turned into a chasm?

 

 


PART TWO. INTERACTION.  Have a natural conversation with your examiner about these questions.

1. Is it better to earn money than to win it? Why? / Why not?

2. Are the best things in life free? Why? / Why not? 

3. Do we have a moral responsibility to reduce inequality for the next generation? 

4. Which do you think is more important: earning less to do a job you love or having a higher income in a job that does not satisfy you?

 


 

Vocabulary
fare dodging       the action or practice of travelling on public transport without paying the required fare. E.g. there were posters on the bus about fare dodging and I began to get a guilty conscience.

Finders keepers, losers weepers: used, often humorously, to assert that whoever finds something by chance is entitled to keep it.

A car guard is an informally employed person in charge of finding parking spots for cars and ensuring the safety of those cars until their owners return. These self-employed individuals often charge a nominal fee. They may euphemistically be called parking attendants, parking assistants or car valets.

spike: a sudden large increase in the number or rate of something. E.g. a spike in interest rates.

take a heavy toll (on somebody/something)/ take its toll (on somebody/something): to have a bad effect on somebody/something; to cause a lot of damage, deaths, suffering, etc. E.g. The recession is taking its toll on the housing markets.

live off: to get your income or food from a supply of money or from another person. Survive on. E.g.  Mum used to live off the interest from her savings.  Dad lost his job and we had to live off welfare.  Most people in the countryside live off the land (=live by growing or finding their own food).

handout (sometimes disapproving) food, money or clothes that are given to a person who is poor

  • I don't want to be dependent on handouts.

chasm: /ˈkæzəm/ 1. a deep crack or opening in the ground. E.g. They leaned over the rails and peered down into the dizzying chasm below. 2. chasm (between A and B) (formal) a very big difference between two people or groups, for example because they have different attitudes. Sp. abismo. E.g. There is still a vast economic chasm between developed and developing countries. 

 

dumpster-dive verb [no object] (Am E) Search through dumpsters or similar rubbish containers for edible food or items of value.

 

dumpster diver: A person who searches through dumpsters or similar rubbish containers for edible food or items of value. 

 

have a clear conscience (about someone or something) and have a clean conscience (about someone or something) to be free of guilt about someone or something. I'm sorry that John got the blame. I have a clean conscience about the whole affair. I have a clear conscience about John and his problems. I didn't do it. I swear to that with a clean conscience.

 

underground economy noun also called shadow economy, the part of a country's economic activity that is unrecorded and untaxed by its government; the black market. Transaction of goods or services not reported to the government and therefore beyond the reach of tax collectors and regulators. The term may refer either to illegal activities or to ordinarily legal activities performed without the securing of required licenses and payment of taxes. Examples of legal activities in the underground economy include unreported income from self-employment or barter. Illegal activities include drug dealing, trade in stolen goods, smuggling, illegal gambling, and fraud.

 

 

 

Close-up p 90. Can Money Ever Create Problems? Essay. Word Formation

Money plays a vital role in the world we live in. It provides us with the bare (1)___________ (NECESSARY) such as clothing, housing, transport and our staple (2)______________ (STUFF). Beyond that, it allows for life's little (3)____________ (LUXURIOUSLY) such as the occasional holiday. However, money is a (4)______________ (EDGE) sword, and along with its many benefits come significant drawbacks.

The most serious of these is the (5)______________ (DISTRIBUTE) of wealth. Perhaps never before in history has so much been in the hands of so few; the (6)___________ (CALL) "one per cent". When wealth is not divided (7)_________________ (EQUALITY), it creates class divisions and this situation leads to social (8)_______________ (RESTED). We need only to look back to the French Revolution to see what form this (9)____________ (ROAR) can take. (10)_____________ (GRANT), we are no longer living in the eighteenth century, but the same problems continue to plague us. The (11)_________________ (HAVE)- then, as now- express their (12)______________ (DESPERATE) and (13)__________________ (RESENTFUL) towards the rich and to corrupt governments by (14)______________ (RIOTER), looting and striking.

Not only can money cause problems at the (15)________________ (SOCIETY) level, but it can also ruin individual lives. In the case of (16)_______________________ (WIND) such as an (17)___________________ (HEIR) or a lottery win, the sudden shift to (18)_____________ (WEALTHY) can become a (19)______________ (CURSED). There have been (20)______________ (NUMBER) stories in the media about lottery winners being (21)________________ (HARASSMENT) for money, or whose friends and family (22)__________________ (EXPLOITATION) their (23)_________________________ (KIND). Some have squandered their fortunes (24)___________________ (RECKLESSNESS) due to poor money (25)___________________ (MANAGE) and ended up (26)__________________ (BREAK). Others find themselves (27)____________________ (DEBT). The most (28)_______________ (FORTUNE) have met (29)__________________ (TRAGEDY) ends, the victims of (30)_________________ (RUE) killers.

In (31)_____________________ (SUM), it would seem that money is an issue that can divide people, at times quite (32)_____________ (VIOLENCE). Whether it creates two (33)______________ (DISTINCTION) classes in society or tears families apart and destroys (34)_______________ (FRIEND), it is a (35)_________________ (POWER) force in our world.



KEY

1. necessities

 

 

 

2.  foodstuffs [usually plural]

any substance that is used as food

  • essential foodstuffs
  • Cross-border trade in foodstuffs and consumer goods is increasing.
  • Rationing of basic foodstuffs was introduced.

 

 

 

3. luxuries

luxuriously /lʌɡˈʒʊəriəsli/

luxury /ˈlʌkʃəri/  

 

 

 

4. double-edged 

 

 

 

5. redistribution

the act of sharing something out among people in a different way

  • the redistribution of wealth

  

 

 

 

 

6. so-called

 

 

7. equally

 

 

 

8. unrest 

rested: feeling healthy and full of energy because you have had a rest

  • I awoke feeling rested and refreshed.

 

unrest: a political situation in which people protest or behave violently  E.g. There is growing unrest throughout the country. Political/social/industrial etc unrest.  The protests were the biggest show of social unrest since the government came to power

 

 

 

9. uproar

[uncountable, singular] a situation in which there is a lot of public criticism and angry argument about something that somebody has said or done. Outcry. E.g. The article caused (an) uproar. 

 

 

 

10. Granted

used when you admit that something is true SYN admittedly.  E.g. Granted, the music is not perfect, but the flaws are outweighed by the sheer joy of the piece.  

 

 

 

11. have-nots 

 

 

 

12. desperation 

 

 

13. resentment/ resentfulness 

 

 

 

14. rioting 

 

 

 

15. societal 

 

 

 

16. windfalls

windfall /ˈwɪndfɔːl $ -fɒːl/ noun [countable]    1 an amount of money that you get unexpectedly. Sp. dinero caído del cielo. E.g.  his £2 million windfall in the lottery. windfall gain/profit etc (=high profit that you did not expect to make)2 a piece of fruit that has fallen off a tree.

 

 

 

 

17. inheritance 

 

 

18. wealth 

 

 

 

19. curse

 

cursed (adj) having a curse on it; suffering from a curse. Sp. maldito

  • The necklace was cursed.
  • The whole family seemed cursed.

 

 

 

20. numerous 

 

 

 

21. harassed 

 

 

 

22. exploited 

 

 

 

23. kindness 

 

 

 

24. recklessly

in a way that shows a lack of care about danger and the possible results of your actions. Sp. temerariamente; (=thoughtlessly) imprudentemente 

E.g. to drive recklessly. Sp. conducir temerariamente 

to spend recklessly Sp. derrochar dinero

  • He admitted driving recklessly.
  • She had fallen hopelessly and recklessly in love.

 recklessness: behaviour that shows a lack of care about danger and the possible results of your actions. Sp. temeridad, Imprudencia.

  • He was full of boyish recklessness and irresponsibility.

 

 

25. management

 

 

 

26. broke 

 

 

 

27. indebted

/ɪnˈdetɪd/  owing money to someone  the 17 most heavily indebted nations.

be (deeply/greatly) indebted to somebody: to be very grateful to someone for the help they have given you. E.g.  We are deeply indebted to Dr Allen.

 

 

 

28. unfortunate  

 

 

 

29. tragic  

 

 

 

30. ruthless

so determined to get what you want that you do not care if you have to hurt other people in order to do it. Sp.  despiadado -a, cruel• a ruthless dictator Sp. un despiadado dictador. E.g.  a ruthless dictator.  They have shown a ruthless disregard for basic human rights.

 

rue: /ruː/ verb [transitive] 

rue something to feel bad about something that happened or something that you did because it had bad results. To wish that you had not done something.  synonym: regret. Sp.  lamentar (la decisión, etc.) rue the day (that) Sp. maldecir el día en que. E.g.  She learned to rue the day she had met Henry. He rued the day they had bought such a large house.

 

 

 

31. summary

 

 

 

32. violently 

 

 

 

33. distinct

/dɪˈstɪŋkt/  

1. easily or clearly heard, seen, felt, etc.

  • There was a distinct smell of gas.
  • His voice was quiet but every word was distinct.

 

2. clearly different or of a different kind. Sp. distinto.

  • The results of the survey fell into two distinct groups.
  • distinct from something Jamaican reggae music is quite distinct from North American jazz or blues.
  • We are talking about rural areas, as distinct from major cities.

 

 

 

 

 

34. friendships

 

 

 

 

35. powerful 

 

Close-up p 88. Currencies. True or False Listening Task

 1. A street vendor thinks that the bond notes can be used for illegal purposes. _____

2. A software engineer claims that more people would use bitcoin if the system to use wasn't so difficult. _____

3. A retired teacher believes that people should be rewarded depending on the type of job they do. _____

4. A small business owner believes that the Bristol pound is not so useful for passing tourists. _____

5. An antiques trader thinks that the swap sites require a lot of patience. _____

 

KEY

1. F (he thinks that they will go the same way as the failed currency they had before)

 

 

 

2. T (The software needed to use it is pretty complicated, though, which probably puts a lot of people off using it) 

 

 

 

3. F (you get rewarded for your time. It's a very fair system, because everyone's time is worth the same)

 

 

 

4. T (For people who don't live here that could be a disadvantage, as it's not legal tender (legal money))

 

 

 

5. F. (A stamp collector)


Script


Unit 6: Made of Money
Track 6.1
N: Listening, Unit 6, Page 88, C
ExN: You will hear five short extracts in which different people talk about different kinds of currencies.
 

Task 1. For questions 1 – 5, choose from the list (A – H), the person who is
speaking.
Task 2. For questions 6 – 10, choose from the list (A – H), the main disadvantage of
the currency mentioned by each speaker. While you listen, you must complete
both tasks. 

ExN: Speaker One
MAN: We used to have Zimbabwean dollars, but they abolished them back in 2009
because of the hyperinflation. Back then a trillion-dollar note wasn’t even enough
for a bus fare! Now they are bringing in something called bond notes, and everyone
thinks these will go the same way. I have a market stall, and if my customers pay me
in bond notes, how can I pay my suppliers? They want dollars, not this money, so it’s
no use to me. People here would rather use real money than this kind of note which
we call ‘ghost money’.
 

ExN: Speaker Two
MAN: I’m in IT and when I’m not writing software for banks and other financial institutions, I love gaming. I use bitcoin quite a lot. It’s the most famous digital currency and it’s accepted by a surprising number of companies for payment. You can also pay people really easily, I mean transactions are fast and safe when you know their bitcoin address. Unlike conventional currencies, bitcoin isn’t issued by central banks or controlled by governments and all transactions are completely anonymous; a factor
that appeals to a lot of users. The software needed to use it is pretty complicated, though, which probably puts a lot of people off using it.

ExN: Speaker Three
WOMAN: After retiring from teaching I was keen to do some kind of volunteering. I was going to volunteer in a local school, helping children to read but then I discovered the time bank. It’s not really volunteering as we know it, because you get rewarded for your
time. It’s a very fair system, because everyone’s time is worth the same. I can help a
child with their homework for an hour say, and get an hour’s worth of gardening
work or hairdressing in return. Of course, it’s the labour that is shared and it works
for services, but not goods. You have to buy any materials that are needed, but the
service is free, provided you have given your time, too.

ExN: Speaker Four
MAN: I accept the Bristol Pound, yes, of course I do. In my café, lots of customers use it to pay. It’s a great idea, I think, because it keeps the money flowing inside our local
economy and helps our town, Bristol, to grow. A lot of money stays inside the town
and goes back to support our local community in this way. It stops money literally
leaking out of the area. For people who don’t live here that could be a disadvantage,
as it’s not legal tender, obviously they’d have to spend all their local currency before
leaving the area, the same way as tourists do when they leave a holiday resort
abroad. 

ExN: Speaker Five
MAN: It’s a great thing now with the Internet; there are loads of good sites where you can
swap your unwanted stuff. Antiques traders are all over these sites of course,
looking for bargains that they can then sell on in their shops. For me, well I’m an
amateur and I’ve been collecting stamps since I was a lad. I’ve got a pretty large
collection, but I’m always on the lookout for the odd ones that are missing. On the
swap site I can swap my unwanted stamps for some that I do want. Sometimes I
swap other collectables like medals and coins, too. In this way it’s a hobby that
doesn’t cost me money. The main problem is that you have to spend hours online
searching for what you want and it’s often hard to find the exact swap you need.

Objective Proficiency p 128. Too Small to Have an Impact. Extra Quotation


Objective Proficiency p 128. Meltdown: The Secret History of the Global Financial Collapse. Extra Listening



Meltdown is a four part investigation into the great financial debacle of 2008. Along the way, the CBC’s Terence McKenna takes viewers “behind the headlines and into the backrooms at the highest levels of world governments and banking institutions, revealing the astonishing level of backstabbing and tension behind the scenes as the world came dangerously close to another Great Depression.”

Objective Proficiency p 128. The Economy. Extra Speaking

Vocabulary
Teeter on the brink/edge of something: to be very close to a very unpleasant or dangerous situation. Sp. estar al borde de. E.g. Europe teeters on the edge of an economic precipice.

Pay sb off: to finish paying money owed for something. E.g. We paid off our mortgage after fifteen years. 

Cut back (on something): to reduce something. E.g. If we don't sell more we'll have to cut back production. To cut back on spending.

Cutback: cutback (in something) a reduction in something. E.g. cutbacks in public spending. Staff cutbacks.

Hang back: show reluctance to act or move. E.g. I do not believe that our Government will hang back from taking drastic measures.
Draw back: choose not to do something that one was expected to do: the government hasn't drawn back from attempting  a new reform.

Put sth up: To raise or increase something. E.g. They've put up the rent by £20 a month. 

Set about sth: to start doing something. E.g. We need to set about finding a solution to the current economic recession.

Rampage: / ˈræmpeɪdʒ / a sudden period of wild and violent behaviour, often causing damage and destruction. Gangs of youths went on the rampage in the city yesterday. A state of emergency was declared following overnight rampages by student demonstrators. 

rake in something: (informal) to earn a lot of money, especially when it is done easily. E.g. The movie raked in more than $300 million. She's been raking it in since she started her new job.

take a heavy toll (on somebody/something)/ take its toll (on somebody/something): to have a bad effect on somebody/something; to cause a lot of damage, deaths, suffering, etc. E.g. The recession is taking its toll on the housing markets


 

 

Objective Proficiency p 128. 12-year-old Victoria Grant Explains How Banks Commit Fraud. Extra Listening.

12-year-old spells out the fraud the banks are committing against the people. Victoria Grant explains why her homeland, Canada, and most of the world, is in debt.

Objective Proficiency p 128. Why Are Wages So Low? Extra Listening

Pay packets in developed economies have hardly grown in decades.
Economic output and the number of people in jobs have both improved since the global downturn. But with income levels failing to rise, ordinary workers aren't feeling the benefit. And for many, the good times were over long before the 2008 financial crash.
In this edition of The Inquiry we hear from experts in the three largest economies to have suffered flat wage growth in recent years: Japan, Germany and the US. What lies behind the experience in each country – and can those answers help to explain the wider phenomenon?

Objective Proficiency p 88. How America's Losing The War On Poverty. Extra Listening



Transcript:

GUY RAZ, HOST:
It's WEEKENDS on ALL THINGS CONSIDERED from NPR News. I'm Guy Raz.
This election, like most presidential elections, really, is framed as a battle for the middle class. It's where both campaigns are aiming most of their rhetorical firepower.
PRESIDENT BARACK OBAMA: And what we should do right now is give middle-class families and small business owners a guarantee that their taxes will not go up next year.
MITT ROMNEY: Of course, today, we just got a new number from the unemployment report, and it's another hammer blow to the struggling middle-class families of America.
RAZ: The middle class is hard to define. In some cities, it may mean a combined household income of $40,000; in other cities, 150,000 or more. It's a group of earners that makes up the majority of the American population. But there's another huge swath of Americans that are largely ignored: the poor. And their ranks are growing.
According to a recent survey by the Associated Press, the number of Americans living at or below the poverty line will soon reach its highest point since President Johnson made his famous declaration in 1964.
(SOUNDBITE OF ARCHIVAL RECORDING)
PRESIDENT LYNDON B. JOHNSON: And this administration today, here and now, declares unconditional war on poverty in America.
RAZ: Close to 16 percent of Americans now live at or below the poverty line, and for a family of four, that's $23,000 a year. And 100 million of us, one out of three Americans, manage to survive on a household income barely twice that amount. Our cover story today: the poverty crisis and why it's happening.
(SOUNDBITE OF MUSIC)
RAZ: From West Virginia to Wyoming to right here in Washington, D.C., food banks are reporting giant spikes in demand. In Webster Springs, West Virginia, a town we visited recently, the food pantry used to serve 30 families a month just three years ago, and today, 150 families in that county, and that's a county of just 9,000 people - 150 families depend on that food pantry run by Catholic charities.
UNIDENTIFIED WOMAN #1: We're going to pick four different items, and it's going to be from the green beans over to the corn.
RAZ: The food pantry is basically a small closet-sized room inside of a thrift shop, and it is a lifeline here. The shelves are lined with cans of vegetables and boxes of macaroni and cheese. On a recent afternoon, a young out-of-work father, late 20s, Josh Hickman(ph), and his 3-year-old daughter come for provisions.
UNIDENTIFIED WOMAN #2: OK, how about five potatoes?
JOSH HICKMAN: Yeah.
UNIDENTIFIED WOMAN #2: Peas?
HICKMAN: Yeah.
UNIDENTIFIED WOMAN #2: Spaghetti sauce?
HICKMAN: Yes.
RAZ: Josh told us later that without that food pantry, they wouldn't be able to survive. Now, Webster Springs is a hard-hit area. Two coal mines have closed down there in the past year. The median income is around $20,000, but the crisis is also taking place right here in our nation's capital.
This is the Capital Area Food Bank where forklifts are moving huge pallets of food around a giant warehouse. This year, that food bank expects to give out 33 million pounds of food - a record. Close to 700,000 people in this region are now at risk of going hungry.
Lynn Brantley runs this facility. She's been working with food pantries for four decades, and she told us that what's been happening today is a hunger crisis.
LYNN BRANTLEY: In my lifetime, I've never seen anything as bad as now. I've never seen it - it's growing into the middle class.
RAZ: The face of poverty is changing. There's increasing overlap between those who used to be firmly in the middle class and those who are poor. We spoke with Angela Blackwell about the growing crisis. She runs PolicyLink. That's a research and advocacy organization that focuses on poverty. Most Americans who are poor, she says, are white, but that's also changing.
ANGELA BLACKWELL: The face of poverty for the nation has changed from being white to being black and Latino. That's made a difference, too, because when people thought of poverty as being white and elderly, there was more general sympathy in the country and more commitment to do something about it. If poverty has become more racialized in the eyes of the American people, I have been very disheartened by absence of political will to be able to really make sure that we help people get out of poverty and stay out.
RAZ: It's estimated that the percentage of Americans living in poverty will increase to 15.7 percent this year, the highest in 50 years. Give us a sense of the gravity of this situation now.
BLACKWELL: Well, it really is terrible because that shocking statistic really only represents the people who live below the official poverty level. It hovers around 21,000, I think, for a family of four. But you have twice that number of people who are living near poverty. Almost 100 million Americans who are living in or near poverty. And one of the really distressing things is among the people who are living in poverty, a good number of them are living extreme poverty, below half the poverty level.
And so what this means in terms of the vastness of the numbers of people who need support in terms of food and housing and money to be able to keep their heads at least a little bit above water, it suggests that we're doing something wrong as a nation, and we need to get on the right track.
RAZ: Angela, many economists say when the economy does recover, a lot of the jobs that have been lost won't come back, that there is a possibility that there will be significantly high unemployment for a long time. Could that lead to a permanent and large class of Americans who will live in poverty?
BLACKWELL: It certainly could if we don't act to prevent it, and we can. And it's not rocket science. We know now that by 2018, 45 percent of all jobs in this nation will require at least an associate's degree. Only 27 percent of African-Americans, only 26 percent of Latinos have it. We know that by the end of this decade, the majority of young people in this country are going to be of color.
Therefore, we could invest in the system of training, particularly focusing on community colleges and preparing people to go to four-year institutions and improving our high school education so that people are starting to do college work while they're still in high school and getting more engaged, more job experiences. We could do something about that.
We actually have extraordinary infrastructure in this country from the manufacturing base that we once had. We need to retool it. We need to refit it. We need to make sure that it's ready for the kind of advance manufacturing that we're seeing develop in other countries.
RAZ: Well, let me ask you about economic mobility right now. If you are a child born into poverty, what is the likelihood that you will grow up out of poverty?
BLACKWELL: Hmm, it's not great. If you're black, 53 percent of black children who are born into poverty will stay there; 32 percent of white children will. And so it's not good for anybody. But let me tell you something that's even more distressing. Forty-five percent of all black children born into the black middle class will end up poor. The figure for white children is 16 percent. Economic mobility may still be alive for some in the United States, but it is not there if you're poor.
RAZ: That's Angela Blackwell. She runs the nonprofit PolicyLink based out of Oakland, California. In 1988, President Ronald Reagan delivered a State of the Union address in which he declared that the war on poverty had failed.
(SOUNDBITE OF ARCHIVAL RECORDING)
PRESIDENT RONALD REAGAN: My friends, some years ago, the federal government declared war on poverty, and poverty won. Today, the federal government...
RAZ: As we heard earlier, the percentage of Americans living at or below the poverty line is expected to reach its highest point since 1965. I asked Peter Edelman, a professor at Georgetown University and an expert on poverty, if Ronald Reagan was right.
PETER EDELMAN: No, but there's a lot to worry about.
RAZ: There is a common perception that somebody who is poor or living below the poverty level is lazy and is simply living off government handouts. What is the profile of the average poor person today?
EDELMAN: The average poor person is working and working as hard as she or he possible can, particularly in the recession, not able to get work or steady work. There certainly are people who make bad choices, but the fundamental question in our economy is the number of people who are doing absolutely everything they can to support their families and they just can't make it.
RAZ: Back in the 1960s when President Johnson launched his war on poverty, it looked very different than it does today. I mean, there was real hunger and malnutrition in the United States back then.
EDELMAN: There was, and the food stamp program is a tremendous success so we don't see the children who have bloated bellies and sores that won't heal on their arms and legs the way Robert Kennedy did and I did when I went with him to Mississippi in 1967. But since that time, it turns out that children are the poorest age group in our country because their families - typically single moms trying to make it - can't do so because of this flood of low-wage work that we have. So it's changed since the 1960s when the elderly were our poorest age group, and now children are our poorest age group.
RAZ: So, Peter, earlier, we spoke with Congressman Steve Southerland. He's a Republican from Florida. And he is working on legislation to tackle poverty. And we asked him about how it's working at the moment. Here's what he said. Take a listen to this.
REPRESENTATIVE STEVE SOUTHERLAND: And I would say that over five decades and $15 trillion and a rising poverty rate that many of the programs are worthless. And there's an old saying that says when the horse is dead, dismount. And there's a lot of poverty programs that we need to dismount from.
RAZ: So he says, you know, five decades since the war on poverty was launched, $15 trillion have been spent and there's nothing to show for. Does he have a point?
EDELMAN: That's an old refrain. We hear that over and over again. It's analyzing the problem wearing a complete blindfold. The problem is how the economy functions for low-income people. The public policy that we have is working - Social Security, the income effects of Medicare and Medicaid, food stamps, earned income tax credit. We're keeping 40 million people out of poverty. And we would have poverty at 86 million instead of the 46 million we have if we didn't have those programs.
RAZ: Peter Edelman, he's a professor of law at Georgetown University and the author, most recently, of "So Rich, So Poor: Why It's So Hard to End Poverty in America." One half of all jobs in the U.S. today now pay less than $35,000 a year. Adjusted for inflation? One of the lowest rates for American workers in five decades.
(SOUNDBITE OF MUSIC)
RAZ: And you're listening to ALL THINGS CONSIDERED from NPR News.

Read about the story on the NPR website