economics

In this McCain-Palin ad which, I believe, started running yesterday, it is stated that an Obama presidency will bring on international military conflict (at least that’s my reading of the images), while a McCain presidency means no international military conflict.

Sociologically what is interesting about this ad is the way in which danger can be socially constructed. What we fear most is not necessarily what is most likely to cause us harm. Consider, most of us are more afraid of riding in hot air balloons than cars but, even proportionally, your chances of dying in a hot air balloon crash are much smaller than your chances of dying in a car crash. People around us–e.g., our parents and friends, but also politicians–try to shape the degree of fear we have for any given situation. Politicans, especially, are not necessarily doing it out of a concern for our well-being.

What do we really need to fear in the next four years? This McCain ad nicely tries to draw our attention away from the fear of, say an economic depression or climate change, in favor of an international military conflict. Though he doesn’t say so explicitly, it seems obvious to me that he’s implying a terrorist attack. It’s not obvious to me, though, that a military conflict or terrorist attack is more likely to cause extreme and extended suffering than any other potential crisis, but it would useful to McCain if I thought so, because it’s the one sphere in which it is widely agreed that McCain is superior to Obama. Thus, as an extremely powerful figure, he attempts to shape our collective understanding of what is (most) dangerous, what we should (most) fear, and win the presidency through the cultivation of a culture of fear.

Here are some graphs on the income and wealth gap between Whites and Blacks in the U.S.

This next one shows homeownership rates. I know some people are going to point out that Blacks are more concentrated in urban areas than Whites are, and so it might make more sense to break down homeownership by area (rural, urban, suburban). While that might be a legitimately useful comparison, it also brings up the question of why African Americans would be more concentrated in urban areas, which could lead to a discussion of government programs that encourage Whites to buy homes in the suburbs after WWII while denying those opportunities to Blacks.

One way of explaining higher unemployment rates among Blacks is that there is some individual or cultural deficiency–African Americans are lazy, or want a hand-out, or don’t look for work, etc. etc. I like to show trend comparisons like these because they undermine those types of explanations. If African American unemployment was due to laziness, a “culture of poverty,” or other deficiencies, it would be unlikely for Black and White unemployment rates to show the same pattern (or, for that matter, any pattern–unless you believe African Americans just got a lot lazier in, say, 1982). What we see here is that Black and White unemployment rates follow a very similar pattern, but that during hard economic times, sugh as the early 1980s and around 1992, African Americans suffer disproportionately.

This one shows the slow but steady trend toward resegregation of our schools:

All of these were found at the Working Group on Extreme Inequality website.

The following graphs all show how much of American’s wealth is (or, um, was) in the form of home equity. They are all based on 2002 data, several years before housing prices hit their peaks, which means by the time the housing bubble burst, home equity was an even larger proportion of all net worth.

It’s not that I didn’t already know the economy was in trouble. That’s obvious–I live in Vegas, all I have to do is drive around a little and see all the houses sitting empty. But looking at these images I kept thinking, “a good portion of that home equity wealth is just gone.” On paper, we had all this wealth, and people borrowed based on it…and a lot of it is simply gone. Just…poof. Gone!

This one shows what percent of all net worth in the U.S. falls into various categories.

Here we have median net worth in 2002 for different age groups…and then the lighter purple bar, which is median net worth if you took out home equity:

A similar breakdown, except by race, not age this time. Notice how much Blacks and Hispanics lag behind Asians, and how much they lag behind non-Hispanic Whites in terms of net worth:

On the up side, if the stock market keeps going down, then home equity as a percent of our net worth will go up again because we’ll have lost so much in stocks. So, you know, look on the bright side!

All of these graphs came from “Net Worth and the Assets of Households: 2002,” written by Alfred O. Gottschalck and published by the U.S. Census Bureau in April 2008.

According to the U.S Bureau of Labor Statistics, weekly earnings rose 0.9 percent last year and the overall inflation rate was 4.1:

Found at Everyday Sociology.  Click to enlarge.

Angela B. brought our attention to an animated map showing, over the space of some seconds, the growth of Walmart across the United States from 1962 to 2007.  Below is the final image.  It’s worth a click to watch the growth yourself.

Jay Livingston over at Montclair Socioblog reports on a report by the Pew Center. First this image:

Jay writes:

When Reagan asked this question in the 1980 presidential debates, most people, according to Gallup felt that yes, they were better off – 52% vs. 25% who felt they were worse off. That’s puzzling, considering the apparent success of Reagan’s question – he won the election handily.

The interesting result from the Gallup numbers is that when Reagan left office – after the “Reagan recovery” cherished by anti-tax, anti-regulation conservatives – the numbers were identical. If you look at actual changes in median family income, you see a slight decline in the Carter years and an increase in the Reagan years. But these changes aren’t reflected in how people felt, at least not as measured by Gallup.

This year’s numbers show optimism at its lowest ebb since Gallup started asking the question in 1964. “Better off” still tops “worse off,” but by only 41% to 31%. Even more surprising to me was the proportion of these self-identified middle-class Americans who rate their quality of life as low (five or less on a ten-point scale).

Marc sent in this image (found here):

According to this site, the photo was taken by Margaret Bourke-White; this site, where you can buy old issues of LIFE magazine, lists the photo in the index for the February 15, 1937, issue. Apparently the people standing in line were flood victims.

This is a great image for sparking discussion about “the American Way” and what that was meant to be (clearly white and presumably middle-class, from the mural), and the ways in which non-whites (and poor whites) are often invisible in depictions of what America is. And, of course, it could be a great image for a discussion of rhetoric and propaganda (for instance, murals proclaiming how wonderful the standard of living is even though the Great Depression was by no means over).

Thanks, Marc!

This interactive chart in the NYT uses shapes to represent how much the average American spends in different categories. Larger shapes make up a larger part of spending; colors show changes in prices from March 2007 to March 2008. Red means an increase in the relative cost, light tan and white relative stability, and blue a decrease.

Note from Gwen: Since it was causing some people with Firefox problems, I’m changing it so you have to click to see it, rather than having it come up automatically when you visit the site. Hope this helps.

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