The Paradox of Wealth

Very Rich, but Very Poor

Money, assets, wealth, rich, poor, destitute: all of these are in some ways less tangible than they may seem. Sure, today we have a world full of have's and have not's. Some are suffering in extreme poverty while others lounge on Caribbean beaches. This may seem to reflect some sort of natural arrangement, but in fact it does not. Wealth is really just a socially constructed system to distribute society's resources.

Imagine for example that you are Bill Gates; you have more money than you could ever dream of. Now imagine that you are in a desert with a low-income person. Nobody else is around. You are both walking through the desert alone together and you happen to find a pitcher of water. What would happen? I suspect that you would simply split the water between the two of you. Outside of market system of society, Bill Gates and any other person suddenly become equals. If something cannot be bought or sold, wealth becomes meaningless.

It's important to remember that in the natural world, money does not divide humanity into those who are worthy of something and those who are not. Society simply has needs and wealth is in a very general sense a reward to those who fill some of these needs. So what happens then when society determines that certain individuals should be given a huge share of total wealth, relative to other people? 

I think it depends.

Money alone really is empty. It really takes meaning when it represents something else. For example, for some people money can come with achievement and the fulfillment of ambitions. These people may feel happy earning more and more money because it represents their own accomplishments. On the other hand, some people seem to happen upon money for seemingly no reason, and in these situations it may generate other feelings.

The Rich Can Feel Poor

I know that often times nobody really wants to hear about the problems of the rich. People may think that they have nothing to worry about because they have all the money that they need. But money is not always a solution and I believe that all life problems can really only be in perspective of one's own life. That being said, I truly want to examine the perhaps sad lives of some extremely wealthy individuals.

If someone becomes rich upon accomplishing a major life goal, reaching some milestone or just by chance, they may feel discontent. If money was a motivating force in someone's life and they suddenly have more of it than they will ever need, it could create a sense of being finished in some way. The sense of achievement and abruptness that could come with wealth may leave some rich wondering "What now?" Money alone might have the effect of interrupting a sense of purpose in the world. 

The Rich Can Also Feel Rich

Perhaps if instead we examine a rich person, or a set of rich people who earn wealth over time, we may find a different outcome. If wealth becomes a part of the journey rather than a destination, it may not conjure the same feelings of a sort of existential dread associated with fulfilling a life goal. Those who are able to come into wealth and adjust their life goals to seek new passions and ambitions, rather than just more money, may feel quite happy with their wealth.

Tension Between Rich and Poor

For some reason, there seems to be a theme in our society of being obsessed with knowing who has money and who doesn't and of creating some sort of judgment as a result. If you are rich, you are taught, probably subconsciously, to look down upon those who earn less than you. On the other hand, if you are poor or even middle class, you may resent those who have more money than you do. 

I believe that no matter the direction of the scorn that it is in many ways quite foolish. There is really no point in disliking an individual or a group of individuals just because they fall into a different financial class than you do. Thinking back to the desert example, after extracting the social construct of wealth from the equation, it's easy to see that everyone is really equal to one another in their intrinsic human value. 

Wealth is just the way that society determines the allocation of resources. Individuals really cannot determine how much society will value their contribution; market forces set wage rates for different industries, companies and individuals. Therefore nobody should judge somebody else simply for a difference in income. 

We are all humans and we are all equal. We should stop letting ourselves believe that a person's financial status is at all indicative of their human value. 

Why Boston Should Not Bid On 2024 Olympics

Boston Olympics Would Be Wasteful

With the winter Olympics in full swing in Sochi, the Olympic Commission has begun pondering a bid for Boston to host the games in 2024. While hosting the olympic games can show the pride of a city, it also has many downfalls. If given the option to host the Olympic games in 2024, Boston should reject the idea.

Olympics Are Too Costly

Each Olympic cycle, host cities spend billions of dollars on infrastructure to develop impressive stadiums for the games. In general, these stadiums are quite beautiful and provide excellent backdrops for the games, but once the festivities are finished, cities are left with empty and expensive stadiums. If Boston were to host the games, it would have to build a massive Olympic Village for the occasion. 

Betting Boston's future on the success or failure of an Olympic bid is highly risky. Historically, many cities lose hundreds of millions of dollars through the hosting of games. Boston has enough to be proud of, it doesn't need to risk it's solid ground by footing an Olympic sized bill. Many local businesses would likely benefit from the games, but the city would likely find itself mired in debt. 

Boston Has No Room

Boston is among the most densely populated cities in America; it also is one of the smaller major cities. Simply put, Boston has little room for a sprawling Olympic Village. In order to clear enough space for the games, Boston would need to wipe out entire neighborhoods and reroute traffic throughout the city. The city already has a complicated network of roads, trains and subway lines; building Olympic routes would only add to the confusion.

The only conceivable area that Boston could build stadiums would be Hyde Park or West Roxbury. These neighborhoods are among the most hopeful in Boston and are undergoing rather rapid gentrification. If the Olympics were to come to town, this could interrupt or reverse many of the gains that have been made in these neighborhoods. Additionally, this part of the city is challenging to access by road and subway, so the Olympics would likely cause and extended traffic nightmare for the city.  

Massachusetts: The Forgotten Best State

Why Massachusetts is Wicked Awesome

I have to start off by saying quite simply that Massachusetts just doesn't fit in with American today. While most of America is buying guns, trying to lower taxes and criticizing Obamacare as being somehow morally unjust, Massachusetts is defending socialism and expanding access to early education. Sometimes it seems as though the Bay State has literally detached from America, floated across the Atlantic and crashed right into Norway. But despite the fact that our political climate and social culture can seem "un-American," by many measures we are actually the greatest state in the union. 

Strongest Education System

Massachusetts certainly cares about it's children. Year after year we are ranked as the best state for public education. Reading and math proficiency scores for students routinely top every other state in the country. Our high school graduation rates are among the highest in the country. While most other states have fallen behind other developed countries, Massachusetts residents have comparable test scores to some of the top performing countries.

Massachusetts also happens to lead the country when it comes to residents with Bachelors and advanced degrees. 38% of residents 25 and older have at least a Bachelor's degree, and over 16% have a Master's degree as well. Not to mention the fact that we are home to some of the world's top universities such as Harvard and MIT. 

Great Healthcare

This category really encompasses a variety of things that the Bay State does well. First and foremost, we are one of the healthiest states in the nation and we rank fifth overall in life expectancy. Massachusetts residents can be expected to live 80.5 years from birth. We also have among the lowest teen pregnancy and suicide rates of any state in the country.

Moving into the insurance market, we have the lowest proportion of residents without insurance, at around 5%. Massachusetts was the first state to mandate universal healthcare, and so far the program has been a huge success. 

Economic Prosperity

There are a variety of ways to measure economic success, but according to almost any measure, Massachusetts is doing great. Most directly, we have the fifth highest median income of any state, at $62,000. We happen to be among the lowest states for crime.

Summary

This final map is of the Human Development Index for the United States. It combines health, education and income together into one graph. When viewed holistically, Massachusetts comes in as number two in the country. 

Despite our bad weather and atypical political climate, if you are from Massachusetts, you should be proud. 

Subsidizing Public Transportation

Why We Should Subsidize Public Transportation

Well to start, we already do. Sort of. The federal government has a small piece of the tax code that is known as the "Qualified Transportation Fringe" benefit. The purpose of this benefit is to create a deduction to reduce the tax burden of commuting. This benefit ranges from $20 per month for biking to $245 per month for parking. The problem with this current system is that it must be set up through employers, and many employers simply do not have the time to file this paperwork. The end result is that few people have any idea of what the Qualified Transportation Fringe benefit even is.

Rather than continue down this relatively confusing path, the federal government could switch to a system that would directly subsidize transit. Rather than filling out complicated tax paperwork to get a transit rebate, a direct subsidy would enable transit agencies to simply reduce the prices of fares. 

Why is this Better?

First and foremost, directly subsidized transit fares would apply to everyone, not only those who work for companies that are willing to take the time to file the paperwork. This would make the entire system more efficient and allow everyone access to the subsidy. Fortunately, this would save time for employees and employers.

Decreasing the price of transit would increase ridership. According to basic economic principles, as prices drop, people are willing to consume more. Lower public transportation prices may encourage more people to leave their cars at home. This would reduce road congestion and pollution. 

Because the government would pay the gap between the charged prices and the original prices, transit companies would benefit from increased ridership. If public transportation operators receive greater revenues, they may be able to actually expand service to communities that need it. The budget and service cuts of recent years could be reduced or eliminated. 

Lastly, this is more fair. Right now the benefit applies to different people in different magnitudes. Because it is a deduction, it's value depends on income level. Because people at lower incomes are taxes at lower rates, they actually receive less of a benefit than do wealthy people. A direct subsidy would ensure that all people could take advantage of the best deal.

CVS to Stop Selling Cigarettes

CVS Goes Tobacco Free

I was happy to discover today that by October 1st of this year, CVS will no longer sell any tobacco products, including cigarettes. Despite the fact that the company earns nearly $2 billion in annual revenue from cigarettes, customers will no longer be able to simultaneously pick up prescriptions and a pack of Marlboros. This will make the company the first national pharmacy chain to make the move out of the tobacco category, and they should be applauded for doing so. 

Cigarette Smoking on the Decline

Health Comes First

The move to eliminate tobacco sales from CVS showed that the company is willing to put the health of it's customers above short-term profits. Smokers may turn away from the company and they will undoubtedly suffer in terms of sales, but this move makes a big statement. It say that companies should not be hypocrites. A company that offers a variety of health and pharmacy services should be concerned with the health of it's customers. Selling products known to harm health directly contradicts the healthy focus of the company. CVS is thereby taking a step in showing that it takes it's mission seriously.

Part of a Larger Trend

CVS may have been the first mover in this category, but other companies are likely to follow suit with similar decisions. For decades we have found the same unhealthy products in store after store. As a society, we have always waited for the government to tell us where and how we could purchase unhealthy products. This is one of the first times that a company, rather than a city or state, is regulating what consumers can and cannot purchase. To me, this is symbolic of our society taking health into it's own hands, rather than passively waiting for the government to act.

Smoking on the Decline

For decades, smoking rates have been on the decline in America. Smoking was once a fashionable pastime, but today it is viewed in a much more negative light. While part of the CVS decision is largely symbolic, it may in part actually help to further the decline of smoking in America. To support this goal, CVS is also rolling out a smoking cessation campaign through it's pharmacies. 

Way to go CVS!

Why Cities Should Offer Paid Sick Time

The Benefits of Paid Sick Leave

Newark, New Jersey just became the latest city to vote for paid sick-time for employees. Outside of Connecticut, where paid sick leave is required, only a handful of cities across the country require businesses to offer paid sick leave to employees. The United States is one of few developed countries not to require employees to receive paid sick leave, but there are a variety of reasons that we should change this.

It's The Right Thing To Do

Everybody get's sick. Like it or not, you are probably going to catch the flu or some other sickness at some point. Most people get sick at least a couple of times a year. For those of us working in positions that do not allow us to stay home when we are sick, the choice becomes whether to work while sick or to forgo a few days of pay and possibly be punished. If our expectation is that nobody will ever be sick, this is simply unrealistic. 

Paid Sick Time Keeps People Healthier

When employees are offered paid sick leave, they are less likely to come to work when they are sick. If sick employees are able to stay home, they are less likely to make other people sick. The spread of disease can be slowed this way and it can keep companies more productive; if everyone is sick, workplace productivity is bound to fall. 

Boost in Employee Morale

When employees feel valued by their employers, they are less likely to leave in pursuit of other positions. Ideally, we would want all companies to treat their employees with respect and try to ensure them a happy place to work. Employees are certainly happier with their jobs when they know that they are allowed a day off every now and then if they fall ill. Offering paid sick time could actually attract more workers to a given city or state. 

American Pleasant Weather

Areas with the Best Weather

A new interactive map was created today that charts weather across the country. It is designed to show which cities have the most pleasant weather. The map defines pleasant as an average daily temperature between 55 - 75, with no drop below 45 or heat above 85. There also must be no rain or snow. All five of the country's "best weather cities" are in California; Los Angeles tops the list with 183 days of pleasant weather each year.

If you are interested in seeing how your city stacks up, follow the link to the interactive map and type in your zip code! 

P.S. for those of us living in the Northeast, most cities register somewhere around an unfortunate 55 days of pleasant weather, a far cry from Southern California!

Sochi's Olympic Security Issues

Sochi's Suspected Security Concerns

With less than a week until the opening ceremony, fears over attacks at or near the Olympic Games in Sochi are rising. In reality, most Olympic Games include some sort of security concerns and almost all come to pass without any substantive issues. This time something is different. Security issues have been at the forefront of all Olympic discussions and some countries are even considering keeping their delegations at home. The Olympics are supposed to be a time for joy and celebration, but this year's Winter Games are marked with fear.

Why Worry?

I have to start off by admitting that quite often these days the news will report almost anything. If nothing of interest is happening, they will play on fear tactics to increase viewership. At first, I really thought that this was what was happening regarding the Olympics. I assumed that the media was making a big fuss about nothing. But I kept listening.

I started researching the Sochi games and listening to NPR reports and some of the things that I discovered really surprised me. One of the biggest shocks for me is what has become known as the "Ring of Steel." Russia has literally constructed a giant fence around the entire Olympic Village and mountain venue sites. This seemed like a huge red flag for me for a couple of reasons. The first is that Russians are so worried about the games that they had to create a physical barrier of separation between the Olympics and everything else. The second reason this is a problem is that the "Ring of Steel" only protects the games, which means that anytime tourists or athletes wander into Sochi either to visit their hotel or simply walk around they have left the security ring! This seems like a problem to me.

Another issue for me is that Russia has created some stringent restrictions on who can enter Sochi, but they themselves still admit to being worried. At present in order to even enter the city of Sochi you must be a registered Olympic spectator or a resident of the city. Otherwise you literally cannot enter Sochi at all. But despite this, Russians and international security forces are still concerned about "Black Widows," female suicide bombers who may have gained early entry into the city. 

Unstable Surroundings

Perhaps the most critical issue surrounding the games is that of regional security surrounding Sochi. Unfortunately for the Russians, much of this region of the country is in rebellion. The states of Dagestan and Chechnya are more or less fighting an open war against the Russian government. Essentially the situation looks something like this. The Olympics are on the far left of the screen and the area that is rebelling is shown in the box to the right. 

Everyone hopes that the Olympics go off without a hitch, but this should be a time of reflection for everyone. We should not live in a world where terror and fear dominate one of our most cherished global traditions.