Saturday Jul 04, 2020
Income Inequality: We’ve Botched It
Since 1970, capitalism has marched society forward providing great increases in productivity through computers, robots, and the internet. Over this period the median household income has not kept pace with the increase of productivity. These increases have mainly gone to the top 1% of earners, creating an unstable situation that encourages civil unrest. Offshoring of labour markets has eliminated a lot of quality manufacturing jobs in favour of low paying yet plentiful labour in Asia and China. Because of this degradation in income, many families are forced to have two incomes to make ends meet. This results in a significant decrease in standard of living over what our parents' generation could afford. The plight of single parents in this scenario is devastating. Without a stay-at-home parent much of our spare time is taken up with household chores, and we incur additional expenses of daycare, and outsourcing of household maintenance that we would otherwise have time to do ourselves. How did we get here? Is there a solution?
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Comments (2)
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Lots of lifestyle things have changed as well-amount if eating out-it used to only be special occasions if we went to anything a live a cafe or diner, travel: airplane travel, overseas travel...all those things were never available to the middle class before. So it’s expectations of lifestyle as well
Sunday Jul 12, 2020
A few things...houses are twice as big as they were 30 years ago. We also want all the conveniences-Internet, smart phones, cable TV, convenience foods, abundance of clothes, convenience items, all manner of things that are more expensive. So we don’t want the same standard of living we wanted a generation ago. So if you actually looked at the lifestyle from then to now you would be able to afford it.
Sunday Jul 12, 2020
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