Shades of Grey: Ep 3, Inequality of Ageing

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Overview

We hope you enjoy this podcast. Be sure to visit rhetoriq.io to keep up with the latest discussion and join in the conversation on Twitter!

Hosts

arun

Arunkumar Krishnakumar

Venture Capital, Blockchain, Crypto, Fintech and AI

#Inclusion is the new #Innovation. Arun is a Venture capital investor, speaker and writer with particular interest in Fintech, Blockchain, Crypto and AI. He loves use cases with a strong emerging markets angle to them, serving the underserved and tapping the untapped.

Theo_Lau-01

Theodora Lau

Founder, Speaker, Writer, Startup Advisor

Theo is a speaker, writer, and advisor, whose work seeks to spark innovation to improve consumer financial well-being and health. She is the founder of Unconventional Ventures, which focuses on developing and growing an ecosystem of corporates, entrepreneurs, and VCs to better address the unmet needs of consumers, with keen interests in women and minority founders.

Bradley Leimer

Bradley Leimer

Writer, Speaker, Advisor on Banking & Technology

Bradley is Co-Founder of Unconventional Ventures, which connects founders to funders, provides mentorship to entrepreneurs, advisory to corporates, and broadens opportunities for diversity within the ecosystem. His belief is that anyone with great ideas should have a chance to succeed.

Guest

Rhetoriq Podcast S2 E3 guest Paulo Narciso

Paolo Narciso

Vice President of Impact Areas @AARP Foundation

Paolo is currently the Vice President of Impact Areas at the AARP Foundation. He’s a social entrepreneurship advocate and technologist with over 36 years leading companies in the Education, Financial Services, Technology, and Government sectors to drive rapid revenue growth and scale.

Away from his work, Paolo has further demonstrated his remarkable drive and determination to become a 3 x Ironman finisher. On slightly calmer afternoons he can be found doing a spot of fly fishing.

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1 Comment

  1. Thank you for this very important discussion!

    What will we do for the aging baby boomers who have little to no savings, inadequate income & rising costs of living? Many won’t have children to take care of them and the government is not providing adequate care or resources today. People in this situation are not going to simply start saving more or spending less. Many live on a fixed income and can’t afford to buy all the medicine prescribed to them by their doctors. I found my other mother not taking all her meds because she thought they were too expensive and she was in a coverage “doughnut whole”.

    So what do we as a compassionate society do to help the millions of aging Americans heading towards very dire circumstances?

    Among the Native Americans in the plains wealth was seen as whomever could “give-away” the most horses, blankets and other materials to members of their tribe. Today wealth is seen as how much you can buy and keep and sometimes hoard. We have so much stuff there’s a billion dollar storage industry for people’s stuff.

    I believe the private sector and non-profits cannot handle the size and scale of the growing needs of our aging poor. We must bring down the cost of living for most working poor Americans. Take housing for example. The free market won’t self regulate & work for working families or renters because we see investors & speculators drive up costs at the same time Wall Street’s short term revenues thinking drives down wages. The short term corporate profits model creates a perverse incentive to do harm and not enough good.

    And our government is in total gridlock between the Democrats who by in large see government as a tool for expanding the greater good and the Republicans who are willing to shut it all down to build an anti-immigrant wall and want to cut existing social safety net programs. Even though those same safety net programs lift millions out of poverty and are not adequate any longer.

    Ultimately the problem with an aging and impoverished population will require the public and private sector to collaborate and cooperate for the greater good of both. I think too many people are suffering right now for us to embrace incremental small solutions. We should look to other nations for examples of how Social Democracies like Denmark, Finland, Sweden, Scotland, and the UK approach reducing poverty and caring for the most vulnerable.

    Sweden has a wealth tax that provides 2% of their GDP and helps support their social safety net programs. Norway charges a sizable fossil fuels extraction tax for the same purpose. And the actual amount of corporate contribution to the federal tax revenues of America has decreased in the last fifty years due to a plethora of loopholes and tax shelters.

    It costs money to be a decent, moral and compassionate nation. We can’t simply tell people to tighten their belts and save more when 1/10th of 1% of our country has the same wealth as the bottom 90% of us combined! And that all while 8 in 10 work paycheck to paycheck and 40% can’t come up with $400 in an emergency. And let me tell you when emergencies come they usually cost a lot more than just $400!

    We need our corporate citizens of America to adopt a more patriotic compassionate position with an eye to a sustainable future. They need to stop buying tax loopholes and think more about human beings needing shelters and less about their tax liabilities needing shelters. That will require bold leadership in the boardrooms, in our government and perhaps a consumers movement in the marketplace.

    Thanks for sharing your thoughts and for doing something to help our aging poor. God speed and good luck to us all.

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