Olivia Mitchell and Annamaria Lusardi, professors at Wharton and George Washington University, respectively, and collaborators, both stressed to Yahoo Finance that the “stock market game” is useless or worse. But there’s also been research that has added valuable insight to what Yang is discussing. There’s been a fair amount of imperfect research on personal finance literacy over the years, with some concluding that it doesn’t work. (Photo by: John Nacion/STAR MAX/IPx) Financial literacy and having a horse in the race The New York Stock Exchange in Lower Manhattan, New York City on November 10, 2020. The top 5% of families, who are part of the highest quintile, saw their income increase at the rate of 3.2% annually from 1981 to 1990, compared to a loss of 0.1% annually for the bottom 20% of earners, according to Pew Research Center. has been concentrated among the richest households. Income inequality, indeed, has worsened over the past three decades, where growth in income in the U.S. And so to me, we have to fix the numbers and the reality.” And so if you are the average American feeling left behind, it's not in your head – it's just in the numbers. “It was like the most extreme before, and now it's even more so. “We're in the midst of the most extreme winner-take-all economy in the history of the world, and it is getting a lot more extreme now, which is mind-boggling,” Yang said. People need to have money in their hands, Yang says, and then we should be teaching financial literacy to high school students. “You feel like you are being left behind.” “Right now, if you're in the bottom half, essentially, of Americans who don't have an investment in the stock market, and then you just keep getting beaten over the head with stock market this, stock market that, you're like, ‘oh no,’” Yang said. Much in line with his campaign platform of a universal basic income, Yang said that people need to be given money to invest. Democratic presidential candidate Andrew Yang speaks at "Our Rights, Our Courts" forum New Hampshire Technical Institute's Concord Community College, Saturday, Feb.
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