1 00:00:00,904 --> 00:00:03,428 I want you to, for a moment, 2 00:00:03,452 --> 00:00:06,522 think about playing a game of Monopoly. 3 00:00:07,087 --> 00:00:12,508 Except in this game, that combination of skill, talent and luck 4 00:00:12,532 --> 00:00:15,287 that helped earn you success in games, as in life, 5 00:00:15,311 --> 00:00:16,712 has been rendered irrelevant, 6 00:00:16,736 --> 00:00:18,892 because this game's been rigged, 7 00:00:18,916 --> 00:00:20,391 and you've got the upper hand. 8 00:00:20,795 --> 00:00:22,579 You've got more money, 9 00:00:22,603 --> 00:00:25,140 more opportunities to move around the board, 10 00:00:25,164 --> 00:00:26,906 and more access to resources. 11 00:00:27,398 --> 00:00:29,268 And as you think about that experience, 12 00:00:29,292 --> 00:00:30,718 I want you to ask yourself: 13 00:00:31,105 --> 00:00:36,152 How might that experience of being a privileged player in a rigged game 14 00:00:36,176 --> 00:00:38,470 change the way you think about yourself 15 00:00:39,168 --> 00:00:41,580 and regard that other player? 16 00:00:42,914 --> 00:00:45,995 So, we ran a study on the UC Berkeley campus 17 00:00:46,019 --> 00:00:48,259 to look at exactly that question. 18 00:00:48,283 --> 00:00:51,976 We brought in more than 100 pairs of strangers into the lab, 19 00:00:52,857 --> 00:00:54,571 and with the flip of a coin, 20 00:00:54,595 --> 00:00:58,636 randomly assigned one of the two to be a rich player in a rigged game. 21 00:00:58,660 --> 00:01:00,406 They got two times as much money; 22 00:01:01,509 --> 00:01:04,561 when they passed Go, they collected twice the salary; 23 00:01:05,339 --> 00:01:07,620 and they got to roll both dice instead of one, 24 00:01:07,644 --> 00:01:09,938 so they got to move around the board a lot more. 25 00:01:09,962 --> 00:01:11,568 (Laughter) 26 00:01:12,018 --> 00:01:13,726 And over the course of 15 minutes, 27 00:01:13,750 --> 00:01:16,241 we watched through hidden cameras what happened. 28 00:01:17,257 --> 00:01:19,353 What I want to do today, for the first time, 29 00:01:19,377 --> 00:01:21,525 is show you a little bit of what we saw. 30 00:01:21,549 --> 00:01:23,850 You'll to have to pardon the sound quality, 31 00:01:23,874 --> 00:01:25,847 because again, these were hidden cameras. 32 00:01:25,871 --> 00:01:27,556 So we've provided subtitles. 33 00:01:27,951 --> 00:01:30,266 [Video] Rich Player: How many 500s did you have? 34 00:01:30,290 --> 00:01:31,441 Poor Player: Just one. 35 00:01:31,465 --> 00:01:32,885 RP: Are you serious? PP: Yeah. 36 00:01:32,909 --> 00:01:36,040 RP: I have three. (Laughs) I don't know why they gave me so much. 37 00:01:36,064 --> 00:01:39,429 Paul Piff: So it was quickly apparent to players that something was up. 38 00:01:39,453 --> 00:01:42,580 One person clearly has a lot more money than the other person, 39 00:01:42,604 --> 00:01:45,160 and yet, as the game unfolded, 40 00:01:45,184 --> 00:01:49,714 we saw very notable differences, dramatic differences begin to emerge 41 00:01:49,738 --> 00:01:51,147 between the two players. 42 00:01:51,488 --> 00:01:55,807 The rich player started to move around the board louder, 43 00:01:55,831 --> 00:01:58,855 literally smacking the board with the piece as he went around. 44 00:01:58,879 --> 00:02:00,586 (Game piece smacks board) 45 00:02:00,610 --> 00:02:03,559 We were more likely to see signs of dominance 46 00:02:03,583 --> 00:02:07,596 and nonverbal signs, displays of power 47 00:02:07,620 --> 00:02:10,294 and celebration among the rich players. 48 00:02:11,500 --> 00:02:14,185 We had a bowl of pretzels positioned off to the side. 49 00:02:14,209 --> 00:02:15,751 It's on the bottom right corner. 50 00:02:15,775 --> 00:02:19,234 That allowed us to watch participants' consummatory behavior. 51 00:02:19,258 --> 00:02:22,236 So we're just tracking how many pretzels participants eat. 52 00:02:23,782 --> 00:02:25,729 [Video] RP: Are those pretzels a trick? 53 00:02:25,753 --> 00:02:27,297 PP: I don't know. 54 00:02:27,713 --> 00:02:30,828 Paul Piff: OK, so no surprises, people are on to us. 55 00:02:30,852 --> 00:02:34,344 They wonder what that bowl of pretzels is doing there in the first place. 56 00:02:34,368 --> 00:02:36,002 One even asks, like you just saw, 57 00:02:36,026 --> 00:02:38,684 "Is that bowl of pretzels there as a trick?" 58 00:02:39,035 --> 00:02:42,079 And yet, despite that, the power of the situation 59 00:02:42,103 --> 00:02:44,313 seems to inevitably dominate, 60 00:02:44,337 --> 00:02:47,372 and those rich players start to eat more pretzels. 61 00:02:47,396 --> 00:02:48,782 (Laughter) 62 00:02:52,290 --> 00:02:53,702 [Video] RP: I love pretzels. 63 00:02:53,726 --> 00:02:55,396 (Laughter) 64 00:02:58,314 --> 00:03:00,316 Paul Piff: And as the game went on, 65 00:03:00,448 --> 00:03:02,923 one of the really interesting and dramatic patterns 66 00:03:02,947 --> 00:03:05,599 that we observed begin to emerge 67 00:03:06,254 --> 00:03:09,056 was that the rich players actually started to become ruder 68 00:03:09,080 --> 00:03:10,492 toward the other person -- 69 00:03:11,103 --> 00:03:14,705 less and less sensitive to the plight of those poor, poor players, 70 00:03:14,729 --> 00:03:18,735 and more and more demonstrative of their material success, 71 00:03:19,288 --> 00:03:21,741 more likely to showcase how well they're doing. 72 00:03:24,084 --> 00:03:25,717 [Video] RP: I have money ... 73 00:03:25,741 --> 00:03:27,637 (Laughs) I have money for everything. 74 00:03:28,013 --> 00:03:29,486 PP: How much is that? 75 00:03:29,510 --> 00:03:31,737 RP: You owe me 24 dollars. 76 00:03:33,404 --> 00:03:36,111 You're going to lose all your money soon. 77 00:03:36,135 --> 00:03:38,271 I'll buy it. I have so much money. 78 00:03:38,295 --> 00:03:40,321 I have so much money, it takes me forever. 79 00:03:40,345 --> 00:03:42,434 RP 2: I'm going to buy out this whole board. 80 00:03:42,458 --> 00:03:44,539 RP 3: You're going to run out of money soon. 81 00:03:44,563 --> 00:03:46,611 I'm pretty much untouchable at this point. 82 00:03:46,635 --> 00:03:48,223 (Laughter) 83 00:03:48,247 --> 00:03:51,432 Paul Piff: And here's what I think was really, really interesting: 84 00:03:51,456 --> 00:03:53,646 it's that, at the end of the 15 minutes, 85 00:03:54,298 --> 00:03:57,672 we asked the players to talk about their experience during the game. 86 00:03:58,647 --> 00:04:02,733 And when the rich players talked about why they had inevitably won 87 00:04:02,757 --> 00:04:04,429 in this rigged game of Monopoly ... 88 00:04:04,453 --> 00:04:08,527 (Laughter) 89 00:04:09,468 --> 00:04:15,816 They talked about what they'd done to buy those different properties 90 00:04:15,840 --> 00:04:17,805 and earn their success in the game. 91 00:04:17,829 --> 00:04:18,863 (Laughter) 92 00:04:18,887 --> 00:04:21,287 And they became far less attuned 93 00:04:21,311 --> 00:04:23,823 to all those different features of the situation -- 94 00:04:23,847 --> 00:04:25,860 including that flip of a coin -- 95 00:04:26,503 --> 00:04:30,502 that had randomly gotten them into that privileged position 96 00:04:30,526 --> 00:04:31,829 in the first place. 97 00:04:31,853 --> 00:04:34,686 And that's a really, really incredible insight 98 00:04:34,710 --> 00:04:38,371 into how the mind makes sense of advantage. 99 00:04:40,101 --> 00:04:42,279 Now, this game of Monopoly can be used 100 00:04:42,303 --> 00:04:47,262 as a metaphor for understanding society and its hierarchical structure, 101 00:04:47,286 --> 00:04:50,903 wherein some people have a lot of wealth and a lot of status, 102 00:04:50,927 --> 00:04:52,411 and a lot of people don't; 103 00:04:52,435 --> 00:04:55,324 they have a lot less wealth and a lot less status 104 00:04:55,348 --> 00:04:58,396 and a lot less access to valued resources. 105 00:04:58,420 --> 00:05:01,802 And what my colleagues and I for the last seven years have been doing 106 00:05:01,826 --> 00:05:04,666 is studying the effects of these kinds of hierarchies. 107 00:05:05,706 --> 00:05:09,085 What we've been finding across dozens of studies 108 00:05:09,109 --> 00:05:12,385 and thousands of participants across this country 109 00:05:12,485 --> 00:05:16,366 is that as a person's levels of wealth increase, 110 00:05:17,088 --> 00:05:20,863 their feelings of compassion and empathy go down, 111 00:05:23,038 --> 00:05:26,764 and their feelings of entitlement, of deservingness, 112 00:05:26,788 --> 00:05:30,348 and their ideology of self-interest increase. 113 00:05:31,284 --> 00:05:32,877 In surveys, we've found 114 00:05:32,901 --> 00:05:36,764 that it's actually wealthier individuals who are more likely to moralize 115 00:05:36,788 --> 00:05:38,495 greed being good, 116 00:05:38,519 --> 00:05:42,487 and that the pursuit of self-interest is favorable and moral. 117 00:05:43,063 --> 00:05:46,693 Now, what I want to do today is talk about some of the implications 118 00:05:46,717 --> 00:05:48,612 of this ideology self-interest, 119 00:05:49,668 --> 00:05:52,312 talk about why we should care about those implications, 120 00:05:52,336 --> 00:05:53,935 and end with what might be done. 121 00:05:55,565 --> 00:05:57,982 Some of the first studies that we ran in this area 122 00:05:58,006 --> 00:05:59,342 looked at helping behavior, 123 00:05:59,366 --> 00:06:02,573 something social psychologists call "pro-social behavior." 124 00:06:03,453 --> 00:06:04,902 And we were really interested 125 00:06:04,926 --> 00:06:08,327 in who's more likely to offer help to another person: 126 00:06:08,444 --> 00:06:10,674 someone who's rich or someone who's poor. 127 00:06:11,555 --> 00:06:12,823 In one of the studies, 128 00:06:12,847 --> 00:06:18,277 we bring rich and poor members of the community into the lab, 129 00:06:18,389 --> 00:06:21,213 and give each of them the equivalent of 10 dollars. 130 00:06:21,785 --> 00:06:25,997 We told the participants they could keep these 10 dollars for themselves, 131 00:06:26,021 --> 00:06:28,909 or they could share a portion of it, if they wanted to, 132 00:06:28,933 --> 00:06:31,277 with a stranger, who's totally anonymous. 133 00:06:31,301 --> 00:06:34,558 They'll never meet that stranger; the stranger will never meet them. 134 00:06:34,582 --> 00:06:36,832 And we just monitor how much people give. 135 00:06:37,554 --> 00:06:42,203 Individuals who made 25,000, sometimes under 15,000 dollars a year, 136 00:06:42,227 --> 00:06:45,544 gave 44 percent more of their money to the stranger 137 00:06:45,568 --> 00:06:49,273 than did individuals making 150,000, 200,000 dollars a year. 138 00:06:50,983 --> 00:06:53,020 We've had people play games 139 00:06:53,809 --> 00:06:56,475 to see who's more or less likely to cheat 140 00:06:56,499 --> 00:06:58,853 to increase their chances of winning a prize. 141 00:06:58,877 --> 00:07:01,626 In one of the games, we actually rigged a computer 142 00:07:01,650 --> 00:07:05,330 so that die rolls over a certain score were impossible -- 143 00:07:05,354 --> 00:07:09,446 You couldn't get above 12 in this game, and yet ... 144 00:07:10,564 --> 00:07:13,753 the richer you were, the more likely you were to cheat in this game 145 00:07:13,777 --> 00:07:16,502 to earn credits toward a $50 cash prize -- 146 00:07:17,146 --> 00:07:19,384 sometimes by three to four times as much. 147 00:07:21,106 --> 00:07:22,270 We ran another study 148 00:07:22,294 --> 00:07:26,085 where we looked at whether people would be inclined to take candy 149 00:07:26,474 --> 00:07:29,114 from a jar of candy that we explicitly identified 150 00:07:29,138 --> 00:07:31,018 as being reserved for children -- 151 00:07:31,042 --> 00:07:34,638 (Laughter) 152 00:07:34,662 --> 00:07:38,816 I'm not kidding -- I know it sounds like I'm making a joke. 153 00:07:39,221 --> 00:07:41,451 We explicitly told participants: 154 00:07:41,475 --> 00:07:45,808 "This candy is for children participating in a developmental lab nearby. 155 00:07:45,832 --> 00:07:47,961 They're in studies. This is for them." 156 00:07:47,985 --> 00:07:50,909 And we just monitored how much candy participants took. 157 00:07:51,567 --> 00:07:54,482 Participants who felt rich took two times as much candy 158 00:07:54,506 --> 00:07:56,159 as participants who felt poor. 159 00:07:57,675 --> 00:07:59,632 We've even studied cars. 160 00:08:00,315 --> 00:08:01,984 Not just any cars, 161 00:08:02,008 --> 00:08:05,272 but whether drivers of different kinds of cars 162 00:08:05,296 --> 00:08:08,314 are more or less inclined to break the law. 163 00:08:08,338 --> 00:08:09,850 In one of these studies, 164 00:08:10,558 --> 00:08:15,285 we looked at whether drivers would stop for a pedestrian 165 00:08:15,309 --> 00:08:18,169 that we had posed waiting to cross at a crosswalk. 166 00:08:18,193 --> 00:08:20,041 Now in California, as you all know, 167 00:08:20,065 --> 00:08:22,469 because I'm sure we all do this, 168 00:08:22,493 --> 00:08:26,014 it's the law to stop for a pedestrian who's waiting to cross. 169 00:08:26,434 --> 00:08:28,276 So here's an example of how we did it. 170 00:08:28,300 --> 00:08:31,843 That's our confederate off to the left, posing as a pedestrian. 171 00:08:31,867 --> 00:08:35,849 He approaches as the red truck successfully stops. 172 00:08:36,219 --> 00:08:37,998 In typical California fashion, 173 00:08:38,022 --> 00:08:40,991 it's overtaken by the bus who almost runs our pedestrian over. 174 00:08:41,015 --> 00:08:42,368 (Laughter) 175 00:08:42,392 --> 00:08:44,597 Now here's an example of a more expensive car, 176 00:08:44,621 --> 00:08:48,868 a Prius, driving through, and a BMW doing the same. 177 00:08:51,590 --> 00:08:54,005 So we did this for hundreds of vehicles 178 00:08:54,029 --> 00:08:56,488 on several days, 179 00:08:56,512 --> 00:08:58,936 just tracking who stops and who doesn't. 180 00:09:00,587 --> 00:09:04,840 What we found was as the expensiveness of a car increased ... 181 00:09:04,864 --> 00:09:06,936 (Laughter) 182 00:09:06,960 --> 00:09:10,191 the drivers' tendencies to break the law increased as well. 183 00:09:10,215 --> 00:09:13,016 None of the cars -- none of the cars -- 184 00:09:13,040 --> 00:09:16,111 in our least expensive car category 185 00:09:16,135 --> 00:09:17,293 broke the law. 186 00:09:17,793 --> 00:09:22,636 Close to 50 percent of the cars in our most expensive vehicle category 187 00:09:22,660 --> 00:09:23,859 broke the law. 188 00:09:25,550 --> 00:09:26,798 We've run other studies, 189 00:09:26,822 --> 00:09:30,709 finding that wealthier individuals are more likely to lie in negotiations, 190 00:09:30,733 --> 00:09:32,924 to endorse unethical behavior at work, 191 00:09:32,948 --> 00:09:35,548 like stealing cash from the cash register, 192 00:09:35,662 --> 00:09:38,451 taking bribes, lying to customers. 193 00:09:40,697 --> 00:09:42,290 Now, I don't mean to suggest 194 00:09:42,314 --> 00:09:45,888 that it's only wealthy people who show these patterns of behavior. 195 00:09:45,912 --> 00:09:48,718 Not at all -- in fact, I think that we all, 196 00:09:48,742 --> 00:09:51,661 in our day-to-day, minute-by-minute lives, 197 00:09:51,685 --> 00:09:54,534 struggle with these competing motivations 198 00:09:54,558 --> 00:10:00,249 of when or if to put our own interests above the interests of other people. 199 00:10:00,273 --> 00:10:02,549 And that's understandable, 200 00:10:02,573 --> 00:10:05,470 because the American dream is an idea 201 00:10:05,494 --> 00:10:10,329 in which we all have an equal opportunity to succeed and prosper, 202 00:10:10,353 --> 00:10:12,909 as long as we apply ourselves and work hard. 203 00:10:12,933 --> 00:10:15,642 And a piece of that means that sometimes, 204 00:10:15,666 --> 00:10:18,595 you need to put your own interests 205 00:10:18,619 --> 00:10:22,128 above the interests and well-being of other people around you. 206 00:10:22,152 --> 00:10:25,523 But what we're finding is that the wealthier you are, 207 00:10:25,547 --> 00:10:29,387 the more likely you are to pursue a vision of personal success, 208 00:10:29,411 --> 00:10:31,736 of achievement and accomplishment, 209 00:10:31,760 --> 00:10:33,948 to the detriment of others around you. 210 00:10:34,927 --> 00:10:38,200 Here I've plotted for you the mean household income 211 00:10:38,224 --> 00:10:41,460 received by each fifth and top five percent of the population 212 00:10:41,484 --> 00:10:42,912 over the last 20 years. 213 00:10:43,579 --> 00:10:44,813 In 1993, 214 00:10:44,837 --> 00:10:47,963 the differences between the different quintiles of the population, 215 00:10:47,987 --> 00:10:49,175 in terms of income, 216 00:10:49,199 --> 00:10:51,271 are fairly egregious. 217 00:10:51,732 --> 00:10:54,422 It's not difficult to discern that there are differences. 218 00:10:54,446 --> 00:10:57,275 But over the last 20 years, that significant difference 219 00:10:57,299 --> 00:10:59,591 has become a Grand Canyon of sorts 220 00:10:59,615 --> 00:11:02,639 between those at the top and everyone else. 221 00:11:02,663 --> 00:11:06,297 In fact, the top 20 percent of our population 222 00:11:06,321 --> 00:11:09,420 own close to 90 percent of the total wealth in this country. 223 00:11:09,444 --> 00:11:13,123 We're at unprecedented levels of economic inequality. 224 00:11:15,858 --> 00:11:19,699 What that means is that wealth is not only becoming increasingly concentrated 225 00:11:19,723 --> 00:11:22,657 in the hands of a select group of individuals, 226 00:11:22,681 --> 00:11:27,009 but the American dream is becoming increasingly unattainable 227 00:11:27,033 --> 00:11:29,375 for an increasing majority of us. 228 00:11:30,227 --> 00:11:33,026 And if it's the case, as we've been finding, 229 00:11:33,050 --> 00:11:34,499 that the wealthier you are, 230 00:11:34,523 --> 00:11:37,042 the more entitled you feel to that wealth, 231 00:11:37,066 --> 00:11:40,064 and the more likely you are to prioritize your own interests 232 00:11:40,088 --> 00:11:41,844 above the interests of other people, 233 00:11:41,868 --> 00:11:45,393 and be willing to do things to serve that self-interest, 234 00:11:45,417 --> 00:11:49,084 well, then, there's no reason to think that those patterns will change. 235 00:11:49,108 --> 00:11:52,640 In fact, there's every reason to think that they'll only get worse, 236 00:11:52,664 --> 00:11:55,850 and that's what it would look like if things just stayed the same, 237 00:11:55,874 --> 00:11:58,932 at the same linear rate, over the next 20 years. 238 00:12:00,162 --> 00:12:02,902 Now inequality -- economic inequality -- 239 00:12:02,926 --> 00:12:05,125 is something we should all be concerned about, 240 00:12:05,149 --> 00:12:08,752 and not just because of those at the bottom of the social hierarchy, 241 00:12:08,776 --> 00:12:11,120 but because individuals and groups 242 00:12:11,144 --> 00:12:15,617 with lots of economic inequality do worse ... 243 00:12:16,349 --> 00:12:18,643 not just the people at the bottom, everyone. 244 00:12:19,206 --> 00:12:21,273 There's a lot of really compelling research 245 00:12:21,297 --> 00:12:23,957 coming out from top labs all over the world, 246 00:12:23,981 --> 00:12:28,631 showcasing the range of things that are undermined 247 00:12:28,655 --> 00:12:31,171 as economic inequality gets worse. 248 00:12:31,195 --> 00:12:34,024 Social mobility, things we really care about, 249 00:12:34,048 --> 00:12:36,506 physical health, social trust, 250 00:12:36,530 --> 00:12:39,462 all go down as inequality goes up. 251 00:12:39,486 --> 00:12:44,011 Similarly, negative things in social collectives and societies, 252 00:12:44,035 --> 00:12:46,115 things like obesity, and violence, 253 00:12:46,139 --> 00:12:47,737 imprisonment, and punishment, 254 00:12:47,761 --> 00:12:51,887 are exacerbated as economic inequality increases. 255 00:12:51,911 --> 00:12:55,454 Again, these are outcomes not just experienced by a few, 256 00:12:55,478 --> 00:12:58,916 but that resound across all strata of society. 257 00:12:58,940 --> 00:13:01,600 Even people at the top experience these outcomes. 258 00:13:02,219 --> 00:13:04,156 So what do we do? 259 00:13:05,307 --> 00:13:08,889 This cascade of self-perpetuating, 260 00:13:08,913 --> 00:13:11,398 pernicious, negative effects 261 00:13:11,422 --> 00:13:14,818 could seem like something that's spun out of control, 262 00:13:14,842 --> 00:13:16,730 and there's nothing we can do about it, 263 00:13:16,754 --> 00:13:19,009 certainly nothing we as individuals could do. 264 00:13:19,558 --> 00:13:25,647 But in fact, we've been finding in our own laboratory research 265 00:13:26,520 --> 00:13:31,100 that small psychological interventions, 266 00:13:31,695 --> 00:13:34,714 small changes to people's values, 267 00:13:34,831 --> 00:13:38,188 small nudges in certain directions, 268 00:13:38,212 --> 00:13:41,346 can restore levels of egalitarianism and empathy. 269 00:13:41,759 --> 00:13:46,032 For instance, reminding people of the benefits of cooperation 270 00:13:46,056 --> 00:13:47,951 or the advantages of community, 271 00:13:48,961 --> 00:13:52,773 cause wealthier individuals to be just as egalitarian 272 00:13:52,797 --> 00:13:54,122 as poor people. 273 00:13:55,369 --> 00:14:00,894 In one study, we had people watch a brief video, just 46 seconds long, 274 00:14:00,918 --> 00:14:02,336 about childhood poverty 275 00:14:03,144 --> 00:14:07,345 that served as a reminder of the needs of others in the world around them. 276 00:14:08,257 --> 00:14:10,152 And after watching that, 277 00:14:10,176 --> 00:14:13,632 we looked at how willing people were to offer up their own time 278 00:14:14,242 --> 00:14:18,273 to a stranger presented to them in the lab, who was in distress. 279 00:14:19,026 --> 00:14:22,246 After watching this video, an hour later, 280 00:14:22,270 --> 00:14:25,650 rich people became just as generous of their own time 281 00:14:25,674 --> 00:14:27,820 to help out this other person, a stranger, 282 00:14:27,844 --> 00:14:29,289 as someone who's poor, 283 00:14:29,313 --> 00:14:33,571 suggesting that these differences are not innate or categorical, 284 00:14:33,595 --> 00:14:37,351 but are so malleable to slight changes in people's values, 285 00:14:37,375 --> 00:14:40,783 and little nudges of compassion and bumps of empathy. 286 00:14:41,172 --> 00:14:42,749 And beyond the walls of our lab, 287 00:14:42,773 --> 00:14:46,052 we're even beginning to see signs of change in society. 288 00:14:46,893 --> 00:14:50,041 Bill Gates, one of our nation's wealthiest individuals, 289 00:14:50,065 --> 00:14:51,993 in his Harvard commencement speech, 290 00:14:52,017 --> 00:14:54,878 talked about the problem of inequality facing society 291 00:14:54,902 --> 00:14:57,565 as being the most daunting challenge, 292 00:14:57,589 --> 00:15:00,423 and talked about what must be done to combat it, 293 00:15:00,447 --> 00:15:05,465 saying, "Humanity's greatest advances are not in its discoveries -- 294 00:15:05,489 --> 00:15:08,521 but in how those discoveries are applied 295 00:15:08,545 --> 00:15:10,333 to reduce inequity." 296 00:15:11,356 --> 00:15:13,285 And there's the Giving Pledge, 297 00:15:13,309 --> 00:15:17,236 in which more than 100 of our nation's wealthiest individuals 298 00:15:18,077 --> 00:15:21,259 are pledging half of their fortunes to charity. 299 00:15:21,886 --> 00:15:26,358 And there's the emergence of dozens of grassroots movements, 300 00:15:27,136 --> 00:15:28,889 like "We are the 1 percent," 301 00:15:29,508 --> 00:15:30,991 "Resource Generation," 302 00:15:31,556 --> 00:15:33,445 or "Wealth for Common Good," 303 00:15:33,469 --> 00:15:37,808 in which the most privileged members of the population, 304 00:15:37,832 --> 00:15:40,776 members of the one percent and elsewhere, 305 00:15:40,800 --> 00:15:42,539 people who are wealthy, 306 00:15:42,662 --> 00:15:46,115 are using their own economic resources, 307 00:15:46,139 --> 00:15:50,372 adults and youth alike -- that's what's most striking to me -- 308 00:15:50,396 --> 00:15:53,957 leveraging their own privilege, their own economic resources, 309 00:15:53,981 --> 00:15:56,822 to combat inequality 310 00:15:56,846 --> 00:15:59,288 by advocating for social policies, 311 00:15:59,866 --> 00:16:01,724 changes in social values 312 00:16:01,748 --> 00:16:04,006 and changes in people's behavior 313 00:16:04,143 --> 00:16:07,183 that work against their own economic interests, 314 00:16:07,207 --> 00:16:10,385 but that may ultimately restore the American dream. 315 00:16:11,420 --> 00:16:12,640 Thank you. 316 00:16:12,664 --> 00:16:17,999 (Applause)