New York Times, Economics Writer, Nelson Schwartz, talks to me about velvet rope economy, covid and more!

Nelson Schwartz, an esteemed NY Times Economics and Business writer is also the best-selling author of the Velvet Rope Economy, a fascinating that really hits home!

 

Show notes

 

01:44 – The short and long term effects of COVID-19 in the country

  • Covid is hitting working class Americans hard
  • Parts of the economy are recovering pretty well like the housing market
  • The lockdowns have been more severe in the Northeast like Michigan and California
  • Hospitality industry are laying off thousands of jobs

06:05 – Is the divide between the rich and the poor getting bigger?

  • Without stimulus packages from the government, the gap will only get worse

07:03 – How urban places like Chicago and New York are faring

  • There is a huge desire in traditional suburban areas
  • Once there’s a vaccine available, herd immunity is achieved, and life return to normal, people will return to New York City

11:05 – Nelson shares about his book called The Velvet Rope Economy

  • Consumer experience are starting to become more separated than ever
  • America was founded on an egalitarian promise but we’re not living up to it
  • The possible remedy are policies that gives more access to education, tax reform for the wealthy, technology.
  • There is a visible divide between the rich and the poor when it comes to access to healthcare

19:40 – Nelson shares one of his favourite story that he covered

  • He did a series of stories about the workers at Carrier’s factory and how they became a political football
  • Nelson also loved his coverage on Fortune Magazine about the energy industry in Iraq and Libya

 

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