WEBVTT 00:00:00.904 --> 00:00:03.428 I want you to, for a moment, 00:00:03.452 --> 00:00:06.522 think about playing a game of Monopoly. 00:00:07.087 --> 00:00:12.508 Except in this game, that combination of skill, talent and luck 00:00:12.532 --> 00:00:15.287 that helped earn you success in games, as in life, 00:00:15.311 --> 00:00:16.712 has been rendered irrelevant, 00:00:16.736 --> 00:00:18.892 because this game's been rigged, 00:00:18.916 --> 00:00:20.391 and you've got the upper hand. 00:00:20.795 --> 00:00:22.579 You've got more money, 00:00:22.603 --> 00:00:25.140 more opportunities to move around the board, 00:00:25.164 --> 00:00:26.906 and more access to resources. 00:00:27.398 --> 00:00:29.268 And as you think about that experience, 00:00:29.292 --> 00:00:30.718 I want you to ask yourself: 00:00:31.105 --> 00:00:36.152 How might that experience of being a privileged player in a rigged game 00:00:36.176 --> 00:00:38.470 change the way you think about yourself 00:00:39.168 --> 00:00:41.580 and regard that other player? NOTE Paragraph 00:00:42.914 --> 00:00:45.995 So, we ran a study on the UC Berkeley campus 00:00:46.019 --> 00:00:48.259 to look at exactly that question. 00:00:48.283 --> 00:00:51.976 We brought in more than 100 pairs of strangers into the lab, 00:00:52.857 --> 00:00:54.571 and with the flip of a coin, 00:00:54.595 --> 00:00:58.636 randomly assigned one of the two to be a rich player in a rigged game. 00:00:58.660 --> 00:01:00.406 They got two times as much money; 00:01:01.509 --> 00:01:04.561 when they passed Go, they collected twice the salary; 00:01:05.339 --> 00:01:07.620 and they got to roll both dice instead of one, 00:01:07.644 --> 00:01:09.938 so they got to move around the board a lot more. NOTE Paragraph 00:01:09.962 --> 00:01:11.568 (Laughter) NOTE Paragraph 00:01:12.018 --> 00:01:13.726 And over the course of 15 minutes, 00:01:13.750 --> 00:01:16.241 we watched through hidden cameras what happened. 00:01:17.257 --> 00:01:19.353 What I want to do today, for the first time, 00:01:19.377 --> 00:01:21.525 is show you a little bit of what we saw. 00:01:21.549 --> 00:01:23.850 You'll to have to pardon the sound quality, 00:01:23.874 --> 00:01:25.847 because again, these were hidden cameras. 00:01:25.871 --> 00:01:27.556 So we've provided subtitles. NOTE Paragraph 00:01:27.951 --> 00:01:30.266 [Video] Rich Player: How many 500s did you have? NOTE Paragraph 00:01:30.290 --> 00:01:31.441 Poor Player: Just one. NOTE Paragraph 00:01:31.465 --> 00:01:32.885 RP: Are you serious? PP: Yeah. NOTE Paragraph 00:01:32.909 --> 00:01:36.040 RP: I have three. (Laughs) I don't know why they gave me so much. NOTE Paragraph 00:01:36.064 --> 00:01:39.429 Paul Piff: So it was quickly apparent to players that something was up. 00:01:39.453 --> 00:01:42.580 One person clearly has a lot more money than the other person, 00:01:42.604 --> 00:01:45.160 and yet, as the game unfolded, 00:01:45.184 --> 00:01:49.714 we saw very notable differences, dramatic differences begin to emerge 00:01:49.738 --> 00:01:51.147 between the two players. 00:01:51.488 --> 00:01:55.807 The rich player started to move around the board louder, 00:01:55.831 --> 00:01:58.855 literally smacking the board with the piece as he went around. NOTE Paragraph 00:01:58.879 --> 00:02:00.586 (Game piece smacks board) NOTE Paragraph 00:02:00.610 --> 00:02:03.559 We were more likely to see signs of dominance 00:02:03.583 --> 00:02:07.596 and nonverbal signs, displays of power 00:02:07.620 --> 00:02:10.294 and celebration among the rich players. NOTE Paragraph 00:02:11.500 --> 00:02:14.185 We had a bowl of pretzels positioned off to the side. 00:02:14.209 --> 00:02:15.751 It's on the bottom right corner. 00:02:15.775 --> 00:02:19.234 That allowed us to watch participants' consummatory behavior. 00:02:19.258 --> 00:02:22.236 So we're just tracking how many pretzels participants eat. NOTE Paragraph 00:02:23.782 --> 00:02:25.729 [Video] RP: Are those pretzels a trick? NOTE Paragraph 00:02:25.753 --> 00:02:27.297 PP: I don't know. NOTE Paragraph 00:02:27.713 --> 00:02:30.828 Paul Piff: OK, so no surprises, people are on to us. 00:02:30.852 --> 00:02:34.344 They wonder what that bowl of pretzels is doing there in the first place. 00:02:34.368 --> 00:02:36.002 One even asks, like you just saw, 00:02:36.026 --> 00:02:38.684 "Is that bowl of pretzels there as a trick?" 00:02:39.035 --> 00:02:42.079 And yet, despite that, the power of the situation 00:02:42.103 --> 00:02:44.313 seems to inevitably dominate, 00:02:44.337 --> 00:02:47.372 and those rich players start to eat more pretzels. NOTE Paragraph 00:02:47.396 --> 00:02:48.782 (Laughter) NOTE Paragraph 00:02:52.290 --> 00:02:53.702 [Video] RP: I love pretzels. NOTE Paragraph 00:02:53.726 --> 00:02:55.396 (Laughter) NOTE Paragraph 00:02:58.314 --> 00:03:00.316 Paul Piff: And as the game went on, 00:03:00.448 --> 00:03:02.923 one of the really interesting and dramatic patterns 00:03:02.947 --> 00:03:05.599 that we observed begin to emerge 00:03:06.254 --> 00:03:09.056 was that the rich players actually started to become ruder 00:03:09.080 --> 00:03:10.492 toward the other person -- 00:03:11.103 --> 00:03:14.705 less and less sensitive to the plight of those poor, poor players, 00:03:14.729 --> 00:03:18.735 and more and more demonstrative of their material success, 00:03:19.288 --> 00:03:21.741 more likely to showcase how well they're doing. NOTE Paragraph 00:03:24.084 --> 00:03:25.717 [Video] RP: I have money ... NOTE Paragraph 00:03:25.741 --> 00:03:27.637 (Laughs) I have money for everything. NOTE Paragraph 00:03:28.013 --> 00:03:29.486 PP: How much is that? NOTE Paragraph 00:03:29.510 --> 00:03:31.737 RP: You owe me 24 dollars. 00:03:33.404 --> 00:03:36.111 You're going to lose all your money soon. 00:03:36.135 --> 00:03:38.271 I'll buy it. I have so much money. 00:03:38.295 --> 00:03:40.321 I have so much money, it takes me forever. NOTE Paragraph 00:03:40.345 --> 00:03:42.434 RP 2: I'm going to buy out this whole board. NOTE Paragraph 00:03:42.458 --> 00:03:44.539 RP 3: You're going to run out of money soon. 00:03:44.563 --> 00:03:46.611 I'm pretty much untouchable at this point. NOTE Paragraph 00:03:46.635 --> 00:03:48.223 (Laughter) NOTE Paragraph 00:03:48.247 --> 00:03:51.432 Paul Piff: And here's what I think was really, really interesting: 00:03:51.456 --> 00:03:53.646 it's that, at the end of the 15 minutes, 00:03:54.298 --> 00:03:57.672 we asked the players to talk about their experience during the game. 00:03:58.647 --> 00:04:02.733 And when the rich players talked about why they had inevitably won 00:04:02.757 --> 00:04:04.429 in this rigged game of Monopoly ... NOTE Paragraph 00:04:04.453 --> 00:04:08.527 (Laughter) NOTE Paragraph 00:04:09.468 --> 00:04:15.816 They talked about what they'd done to buy those different properties 00:04:15.840 --> 00:04:17.805 and earn their success in the game. NOTE Paragraph 00:04:17.829 --> 00:04:18.863 (Laughter) NOTE Paragraph 00:04:18.887 --> 00:04:21.287 And they became far less attuned 00:04:21.311 --> 00:04:23.823 to all those different features of the situation -- 00:04:23.847 --> 00:04:25.860 including that flip of a coin -- 00:04:26.503 --> 00:04:30.502 that had randomly gotten them into that privileged position 00:04:30.526 --> 00:04:31.829 in the first place. 00:04:31.853 --> 00:04:34.686 And that's a really, really incredible insight 00:04:34.710 --> 00:04:38.371 into how the mind makes sense of advantage. NOTE Paragraph 00:04:40.101 --> 00:04:42.279 Now, this game of Monopoly can be used 00:04:42.303 --> 00:04:47.262 as a metaphor for understanding society and its hierarchical structure, 00:04:47.286 --> 00:04:50.903 wherein some people have a lot of wealth and a lot of status, 00:04:50.927 --> 00:04:52.411 and a lot of people don't; 00:04:52.435 --> 00:04:55.324 they have a lot less wealth and a lot less status 00:04:55.348 --> 00:04:58.396 and a lot less access to valued resources. 00:04:58.420 --> 00:05:01.802 And what my colleagues and I for the last seven years have been doing 00:05:01.826 --> 00:05:04.666 is studying the effects of these kinds of hierarchies. 00:05:05.706 --> 00:05:09.085 What we've been finding across dozens of studies 00:05:09.109 --> 00:05:12.385 and thousands of participants across this country 00:05:12.485 --> 00:05:16.366 is that as a person's levels of wealth increase, 00:05:17.088 --> 00:05:20.863 their feelings of compassion and empathy go down, 00:05:23.038 --> 00:05:26.764 and their feelings of entitlement, of deservingness, 00:05:26.788 --> 00:05:30.348 and their ideology of self-interest increase. 00:05:31.284 --> 00:05:32.877 In surveys, we've found 00:05:32.901 --> 00:05:36.764 that it's actually wealthier individuals who are more likely to moralize 00:05:36.788 --> 00:05:38.495 greed being good, 00:05:38.519 --> 00:05:42.487 and that the pursuit of self-interest is favorable and moral. 00:05:43.063 --> 00:05:46.693 Now, what I want to do today is talk about some of the implications 00:05:46.717 --> 00:05:48.612 of this ideology self-interest, 00:05:49.668 --> 00:05:52.312 talk about why we should care about those implications, 00:05:52.336 --> 00:05:53.935 and end with what might be done. NOTE Paragraph 00:05:55.565 --> 00:05:57.982 Some of the first studies that we ran in this area 00:05:58.006 --> 00:05:59.342 looked at helping behavior, 00:05:59.366 --> 00:06:02.573 something social psychologists call "pro-social behavior." 00:06:03.453 --> 00:06:04.902 And we were really interested 00:06:04.926 --> 00:06:08.327 in who's more likely to offer help to another person: 00:06:08.444 --> 00:06:10.674 someone who's rich or someone who's poor. 00:06:11.555 --> 00:06:12.823 In one of the studies, 00:06:12.847 --> 00:06:18.277 we bring rich and poor members of the community into the lab, 00:06:18.389 --> 00:06:21.213 and give each of them the equivalent of 10 dollars. 00:06:21.785 --> 00:06:25.997 We told the participants they could keep these 10 dollars for themselves, 00:06:26.021 --> 00:06:28.909 or they could share a portion of it, if they wanted to, 00:06:28.933 --> 00:06:31.277 with a stranger, who's totally anonymous. 00:06:31.301 --> 00:06:34.558 They'll never meet that stranger; the stranger will never meet them. 00:06:34.582 --> 00:06:36.832 And we just monitor how much people give. 00:06:37.554 --> 00:06:42.203 Individuals who made 25,000, sometimes under 15,000 dollars a year, 00:06:42.227 --> 00:06:45.544 gave 44 percent more of their money to the stranger 00:06:45.568 --> 00:06:49.273 than did individuals making 150,000, 200,000 dollars a year. NOTE Paragraph 00:06:50.983 --> 00:06:53.020 We've had people play games 00:06:53.809 --> 00:06:56.475 to see who's more or less likely to cheat 00:06:56.499 --> 00:06:58.853 to increase their chances of winning a prize. 00:06:58.877 --> 00:07:01.626 In one of the games, we actually rigged a computer 00:07:01.650 --> 00:07:05.330 so that die rolls over a certain score were impossible -- 00:07:05.354 --> 00:07:09.446 You couldn't get above 12 in this game, and yet ... 00:07:10.564 --> 00:07:13.753 the richer you were, the more likely you were to cheat in this game 00:07:13.777 --> 00:07:16.502 to earn credits toward a $50 cash prize -- 00:07:17.146 --> 00:07:19.384 sometimes by three to four times as much. NOTE Paragraph 00:07:21.106 --> 00:07:22.270 We ran another study 00:07:22.294 --> 00:07:26.085 where we looked at whether people would be inclined to take candy 00:07:26.474 --> 00:07:29.114 from a jar of candy that we explicitly identified 00:07:29.138 --> 00:07:31.018 as being reserved for children -- NOTE Paragraph 00:07:31.042 --> 00:07:34.638 (Laughter) NOTE Paragraph 00:07:34.662 --> 00:07:38.816 I'm not kidding -- I know it sounds like I'm making a joke. 00:07:39.221 --> 00:07:41.451 We explicitly told participants: 00:07:41.475 --> 00:07:45.808 "This candy is for children participating in a developmental lab nearby. 00:07:45.832 --> 00:07:47.961 They're in studies. This is for them." 00:07:47.985 --> 00:07:50.909 And we just monitored how much candy participants took. 00:07:51.567 --> 00:07:54.482 Participants who felt rich took two times as much candy 00:07:54.506 --> 00:07:56.159 as participants who felt poor. NOTE Paragraph 00:07:57.675 --> 00:07:59.632 We've even studied cars. 00:08:00.315 --> 00:08:01.984 Not just any cars, 00:08:02.008 --> 00:08:05.272 but whether drivers of different kinds of cars 00:08:05.296 --> 00:08:08.314 are more or less inclined to break the law. 00:08:08.338 --> 00:08:09.850 In one of these studies, 00:08:10.558 --> 00:08:15.285 we looked at whether drivers would stop for a pedestrian 00:08:15.309 --> 00:08:18.169 that we had posed waiting to cross at a crosswalk. 00:08:18.193 --> 00:08:20.041 Now in California, as you all know, 00:08:20.065 --> 00:08:22.469 because I'm sure we all do this, 00:08:22.493 --> 00:08:26.014 it's the law to stop for a pedestrian who's waiting to cross. 00:08:26.434 --> 00:08:28.276 So here's an example of how we did it. 00:08:28.300 --> 00:08:31.843 That's our confederate off to the left, posing as a pedestrian. 00:08:31.867 --> 00:08:35.849 He approaches as the red truck successfully stops. 00:08:36.219 --> 00:08:37.998 In typical California fashion, 00:08:38.022 --> 00:08:40.991 it's overtaken by the bus who almost runs our pedestrian over. NOTE Paragraph 00:08:41.015 --> 00:08:42.368 (Laughter) NOTE Paragraph 00:08:42.392 --> 00:08:44.597 Now here's an example of a more expensive car, 00:08:44.621 --> 00:08:48.868 a Prius, driving through, and a BMW doing the same. 00:08:51.590 --> 00:08:54.005 So we did this for hundreds of vehicles 00:08:54.029 --> 00:08:56.488 on several days, 00:08:56.512 --> 00:08:58.936 just tracking who stops and who doesn't. 00:09:00.587 --> 00:09:04.840 What we found was as the expensiveness of a car increased ... NOTE Paragraph 00:09:04.864 --> 00:09:06.936 (Laughter) NOTE Paragraph 00:09:06.960 --> 00:09:10.191 the drivers' tendencies to break the law increased as well. 00:09:10.215 --> 00:09:13.016 None of the cars -- none of the cars -- 00:09:13.040 --> 00:09:16.111 in our least expensive car category 00:09:16.135 --> 00:09:17.293 broke the law. 00:09:17.793 --> 00:09:22.636 Close to 50 percent of the cars in our most expensive vehicle category 00:09:22.660 --> 00:09:23.859 broke the law. 00:09:25.550 --> 00:09:26.798 We've run other studies, 00:09:26.822 --> 00:09:30.709 finding that wealthier individuals are more likely to lie in negotiations, 00:09:30.733 --> 00:09:32.924 to endorse unethical behavior at work, 00:09:32.948 --> 00:09:35.548 like stealing cash from the cash register, 00:09:35.662 --> 00:09:38.451 taking bribes, lying to customers. NOTE Paragraph 00:09:40.697 --> 00:09:42.290 Now, I don't mean to suggest 00:09:42.314 --> 00:09:45.888 that it's only wealthy people who show these patterns of behavior. 00:09:45.912 --> 00:09:48.718 Not at all -- in fact, I think that we all, 00:09:48.742 --> 00:09:51.661 in our day-to-day, minute-by-minute lives, 00:09:51.685 --> 00:09:54.534 struggle with these competing motivations 00:09:54.558 --> 00:10:00.249 of when or if to put our own interests above the interests of other people. 00:10:00.273 --> 00:10:02.549 And that's understandable, 00:10:02.573 --> 00:10:05.470 because the American dream is an idea 00:10:05.494 --> 00:10:10.329 in which we all have an equal opportunity to succeed and prosper, 00:10:10.353 --> 00:10:12.909 as long as we apply ourselves and work hard. 00:10:12.933 --> 00:10:15.642 And a piece of that means that sometimes, 00:10:15.666 --> 00:10:18.595 you need to put your own interests 00:10:18.619 --> 00:10:22.128 above the interests and well-being of other people around you. 00:10:22.152 --> 00:10:25.523 But what we're finding is that the wealthier you are, 00:10:25.547 --> 00:10:29.387 the more likely you are to pursue a vision of personal success, 00:10:29.411 --> 00:10:31.736 of achievement and accomplishment, 00:10:31.760 --> 00:10:33.948 to the detriment of others around you. NOTE Paragraph 00:10:34.927 --> 00:10:38.200 Here I've plotted for you the mean household income 00:10:38.224 --> 00:10:41.460 received by each fifth and top five percent of the population 00:10:41.484 --> 00:10:42.912 over the last 20 years. 00:10:43.579 --> 00:10:44.813 In 1993, 00:10:44.837 --> 00:10:47.963 the differences between the different quintiles of the population, 00:10:47.987 --> 00:10:49.175 in terms of income, 00:10:49.199 --> 00:10:51.271 are fairly egregious. 00:10:51.732 --> 00:10:54.422 It's not difficult to discern that there are differences. 00:10:54.446 --> 00:10:57.275 But over the last 20 years, that significant difference 00:10:57.299 --> 00:10:59.591 has become a Grand Canyon of sorts 00:10:59.615 --> 00:11:02.639 between those at the top and everyone else. 00:11:02.663 --> 00:11:06.297 In fact, the top 20 percent of our population 00:11:06.321 --> 00:11:09.420 own close to 90 percent of the total wealth in this country. NOTE Paragraph 00:11:09.444 --> 00:11:13.123 We're at unprecedented levels of economic inequality. 00:11:15.858 --> 00:11:19.699 What that means is that wealth is not only becoming increasingly concentrated 00:11:19.723 --> 00:11:22.657 in the hands of a select group of individuals, 00:11:22.681 --> 00:11:27.009 but the American dream is becoming increasingly unattainable 00:11:27.033 --> 00:11:29.375 for an increasing majority of us. 00:11:30.227 --> 00:11:33.026 And if it's the case, as we've been finding, 00:11:33.050 --> 00:11:34.499 that the wealthier you are, 00:11:34.523 --> 00:11:37.042 the more entitled you feel to that wealth, 00:11:37.066 --> 00:11:40.064 and the more likely you are to prioritize your own interests 00:11:40.088 --> 00:11:41.844 above the interests of other people, 00:11:41.868 --> 00:11:45.393 and be willing to do things to serve that self-interest, 00:11:45.417 --> 00:11:49.084 well, then, there's no reason to think that those patterns will change. 00:11:49.108 --> 00:11:52.640 In fact, there's every reason to think that they'll only get worse, 00:11:52.664 --> 00:11:55.850 and that's what it would look like if things just stayed the same, 00:11:55.874 --> 00:11:58.932 at the same linear rate, over the next 20 years. NOTE Paragraph 00:12:00.162 --> 00:12:02.902 Now inequality -- economic inequality -- 00:12:02.926 --> 00:12:05.125 is something we should all be concerned about, 00:12:05.149 --> 00:12:08.752 and not just because of those at the bottom of the social hierarchy, 00:12:08.776 --> 00:12:11.120 but because individuals and groups 00:12:11.144 --> 00:12:15.617 with lots of economic inequality do worse ... 00:12:16.349 --> 00:12:18.643 not just the people at the bottom, everyone. 00:12:19.206 --> 00:12:21.273 There's a lot of really compelling research 00:12:21.297 --> 00:12:23.957 coming out from top labs all over the world, 00:12:23.981 --> 00:12:28.631 showcasing the range of things that are undermined 00:12:28.655 --> 00:12:31.171 as economic inequality gets worse. 00:12:31.195 --> 00:12:34.024 Social mobility, things we really care about, 00:12:34.048 --> 00:12:36.506 physical health, social trust, 00:12:36.530 --> 00:12:39.462 all go down as inequality goes up. 00:12:39.486 --> 00:12:44.011 Similarly, negative things in social collectives and societies, 00:12:44.035 --> 00:12:46.115 things like obesity, and violence, 00:12:46.139 --> 00:12:47.737 imprisonment, and punishment, 00:12:47.761 --> 00:12:51.887 are exacerbated as economic inequality increases. 00:12:51.911 --> 00:12:55.454 Again, these are outcomes not just experienced by a few, 00:12:55.478 --> 00:12:58.916 but that resound across all strata of society. 00:12:58.940 --> 00:13:01.600 Even people at the top experience these outcomes. NOTE Paragraph 00:13:02.219 --> 00:13:04.156 So what do we do? 00:13:05.307 --> 00:13:08.889 This cascade of self-perpetuating, 00:13:08.913 --> 00:13:11.398 pernicious, negative effects 00:13:11.422 --> 00:13:14.818 could seem like something that's spun out of control, 00:13:14.842 --> 00:13:16.730 and there's nothing we can do about it, 00:13:16.754 --> 00:13:19.009 certainly nothing we as individuals could do. 00:13:19.558 --> 00:13:25.647 But in fact, we've been finding in our own laboratory research 00:13:26.520 --> 00:13:31.100 that small psychological interventions, 00:13:31.695 --> 00:13:34.714 small changes to people's values, 00:13:34.831 --> 00:13:38.188 small nudges in certain directions, 00:13:38.212 --> 00:13:41.346 can restore levels of egalitarianism and empathy. 00:13:41.759 --> 00:13:46.032 For instance, reminding people of the benefits of cooperation 00:13:46.056 --> 00:13:47.951 or the advantages of community, 00:13:48.961 --> 00:13:52.773 cause wealthier individuals to be just as egalitarian 00:13:52.797 --> 00:13:54.122 as poor people. NOTE Paragraph 00:13:55.369 --> 00:14:00.894 In one study, we had people watch a brief video, just 46 seconds long, 00:14:00.918 --> 00:14:02.336 about childhood poverty 00:14:03.144 --> 00:14:07.345 that served as a reminder of the needs of others in the world around them. 00:14:08.257 --> 00:14:10.152 And after watching that, 00:14:10.176 --> 00:14:13.632 we looked at how willing people were to offer up their own time 00:14:14.242 --> 00:14:18.273 to a stranger presented to them in the lab, who was in distress. 00:14:19.026 --> 00:14:22.246 After watching this video, an hour later, 00:14:22.270 --> 00:14:25.650 rich people became just as generous of their own time 00:14:25.674 --> 00:14:27.820 to help out this other person, a stranger, 00:14:27.844 --> 00:14:29.289 as someone who's poor, 00:14:29.313 --> 00:14:33.571 suggesting that these differences are not innate or categorical, 00:14:33.595 --> 00:14:37.351 but are so malleable to slight changes in people's values, 00:14:37.375 --> 00:14:40.783 and little nudges of compassion and bumps of empathy. NOTE Paragraph 00:14:41.172 --> 00:14:42.749 And beyond the walls of our lab, 00:14:42.773 --> 00:14:46.052 we're even beginning to see signs of change in society. 00:14:46.893 --> 00:14:50.041 Bill Gates, one of our nation's wealthiest individuals, 00:14:50.065 --> 00:14:51.993 in his Harvard commencement speech, 00:14:52.017 --> 00:14:54.878 talked about the problem of inequality facing society 00:14:54.902 --> 00:14:57.565 as being the most daunting challenge, 00:14:57.589 --> 00:15:00.423 and talked about what must be done to combat it, 00:15:00.447 --> 00:15:05.465 saying, "Humanity's greatest advances are not in its discoveries -- 00:15:05.489 --> 00:15:08.521 but in how those discoveries are applied 00:15:08.545 --> 00:15:10.333 to reduce inequity." 00:15:11.356 --> 00:15:13.285 And there's the Giving Pledge, 00:15:13.309 --> 00:15:17.236 in which more than 100 of our nation's wealthiest individuals 00:15:18.077 --> 00:15:21.259 are pledging half of their fortunes to charity. 00:15:21.886 --> 00:15:26.358 And there's the emergence of dozens of grassroots movements, 00:15:27.136 --> 00:15:28.889 like "We are the 1 percent," 00:15:29.508 --> 00:15:30.991 "Resource Generation," 00:15:31.556 --> 00:15:33.445 or "Wealth for Common Good," 00:15:33.469 --> 00:15:37.808 in which the most privileged members of the population, 00:15:37.832 --> 00:15:40.776 members of the one percent and elsewhere, 00:15:40.800 --> 00:15:42.539 people who are wealthy, 00:15:42.662 --> 00:15:46.115 are using their own economic resources, 00:15:46.139 --> 00:15:50.372 adults and youth alike -- that's what's most striking to me -- 00:15:50.396 --> 00:15:53.957 leveraging their own privilege, their own economic resources, 00:15:53.981 --> 00:15:56.822 to combat inequality 00:15:56.846 --> 00:15:59.288 by advocating for social policies, 00:15:59.866 --> 00:16:01.724 changes in social values 00:16:01.748 --> 00:16:04.006 and changes in people's behavior 00:16:04.143 --> 00:16:07.183 that work against their own economic interests, 00:16:07.207 --> 00:16:10.385 but that may ultimately restore the American dream. NOTE Paragraph 00:16:11.420 --> 00:16:12.640 Thank you. NOTE Paragraph 00:16:12.664 --> 00:16:17.999 (Applause)