Billionaires: What Went Wrong?

The video explores the historical and modern context of wealth inequality, focusing on the rise of billionaires from the Gilded Age to today. It discusses the societal impacts of wealth concentration, the role of government, and the influence of Social Darwinism. The video also highlights labor struggles and the evolving economic landscape, drawing parallels between past and present wealth dynamics.

What is a common perception of billionaires in the current economic climate?

• They are universally admired for their success.

• They are mostly ignored by the general public.

• They are often criticized for profiting during economic crises.

• They are seen as essential for economic stability.

During which period did America's first billionaires emerge?

• The Great Depression

• The Gilded Age

• The Roaring Twenties

• The Revolutionary War

What concept was used to justify the wealth of billionaires during the Gilded Age?

• Trickle-down economics

• Social Darwinism

• Marxism

• Keynesian economics

How did the government support billionaires during the Gilded Age?

• Through strict regulations

• By imposing high taxes on them

• Through laissez-faire policies and subsidies

• By nationalizing their businesses

What was a common practice among tycoons to maintain their wealth?

• Investing in public infrastructure

• Manipulating the stock market

• Supporting labor unions

• Donating to charity

What was a significant social impact of wealth inequality during the Gilded Age?

• Rise of labor strikes and conflicts

• Improved working conditions

• Universal healthcare

• Increased rural prosperity

What was a common response by business owners to labor strikes during the Gilded Age?

• Negotiating with workers

• Implementing shorter work hours

• Increasing wages

• Calling in private militias

What has become the center of the US economy in modern times, similar to railroads in the Gilded Age?

• Agriculture

• Manufacturing

• Finance

• Technology

What is the Great Gatsby curve?

• A graph illustrating economic growth

• A graph showing income inequality and social mobility

• A graph showing the rise of billionaires

• A graph depicting stock market trends

What has been the general reaction to growing wealth stratification in modern times?

• Increased government intervention

• Universal acceptance

• Widespread protests and strikes

• Limited pushback compared to the Gilded Age