Shiller: Need Tax System Response to Rising Inequality

The video discusses a chart from the World Economic Forum highlighting the stagnation of US median household income since 1989. It explores the challenges of middle-class income leveling and rising inequality, emphasizing the need for tax reforms to address these issues. The speaker suggests that such reforms would not harm entrepreneurial spirit but rather ensure balanced economic growth.

How does the speaker propose to address rising inequality?

What is meant by 'animal spirits' in the context of the US economy as discussed in the text?