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Nebraska Council on Economic Education Screens Inequality for All Film

Nearly 250 people showed up for the Nebraska Council for Economic Education (NCEE) free screening of the Robert Reich movie Inequality for All at the Mary Riepma Ross Media Center on November 6. Most of the attendees were business students who watched the movie and stayed to hear a panel discussion featuring CBA professors Dr. Eric Thompson, director of the Bureau of Business Research, Dr. Hank van den Berg, professor of economics, and Dr. Seth Giertz, associate professor of economics.

Jennifer Davidson, president of the NCEE, explained the importance of putting the issue of income inequality before students and the public.

“The issue of income inequality has been front and center with the proposed increase in the minimum wage on Nebraska’s ballot,” Davidson said. “The movie was extremely informative and well done. Reich was former secretary of labor in the Clinton administration and did a good job bringing in the facts and not leaning too far to the right or the left.”

The panel discussion expanded on the issue of income inequality with the professors giving differing points of view on the movie’s content.

Students pack the Ross Media Center for Inequality for All screening

Students pack Ross Theatre for Inequality for All screening

“Clearly, the panelists were on opposite sides of the issue, but the way they discussed and debated was academic and enlightening. Having more information on an important issue allows for better decision making,” she said.

Students also had the opportunity to question the panelists about income inequality, including whether or not the minimum wage should have been raised in Nebraska. Dr. Giertz stated he did not believe academic research backs up the idea that raising the minimum wage will help the poor.

“Recent literature shows a lot of people who earn minimum wage aren’t from poor families,” Giertz said. “My preference for helping the poor would be through earned income tax credits. Minimum wage increases costs on the employer, whereas the earned income tax credit subsidizes workers but it’s spread out through the tax payers and doesn’t provide a disincentive for employers to provide jobs.”

Dr. van den Berg countered by saying the minimum wage has been shown to be very effective in leveling income inequality and helping to grow the economy.

“Unions have a problem organizing these days and a lot of employees get fired if they try,” van den Berg said. “If workers can’t organize how do you help them? Minimum wage works. We can do it through a law. Then we have to decide how much we’re going to raise it and what is a living wage. It also helps the economy because if we pay workers more they turn around and buy more which helps that circular flow of money through the economy.”

Davidson believes informational economic programs are valuable for both students and the public to understand both sides of an issue.

“In a democracy such as ours, we must be informed and educated.  The Council believes students should develop economic ways of thinking and problem solving they can use in their lives as consumers, savers, investors, members of the workforce, responsible citizens and effective participants in a global economy,” Davidson said.

Her goal is to bring similar events to UNL and the broader community, and she encourages people to like the NCEE Facebook page to find out about future events.

Inequality for All Screening Photo Album
Published: November 14, 2014