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Old 09-05-2019, 12:13 AM   #6774 (permalink)
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Originally Posted by sendler View Post
The number of "jobs" may be up but the quality and the pay is way down. The bottom 70% of Americans makes 8% less than they did in 2000 and owns only 3% of the wealth. Wages are still completely stagnant. Per capita GDP is up but so is inequity. There is more money out there but it is more and more concentrated at the very top world wide. The system is broken for labor. If it ever seemed to work at all ,only due to constant growth. But there are limits to growth on a finite planet and we are about to run into them.
We live in an increasingly global economy, and the price for labor is increasingly distributed around the world. It's inevitable that we would be competing not just among others in our town, but among all living people. I expect globalization alone to account for a significant amount of stagnant or reduced wages.

There is a looming problem on the horizon of work requiring increasing skill, yet our cognitive abilities aren't increasing, or not increasing at the same pace. That leaves people at the bottom with nothing to do (thanks minimum mandate by government force). Inequality is inevitable because we aren't all the same, but that is a problem when wealth accumulates too heavily at the top; and I don't have any reasonable solutions to that problem at the moment, or know exactly when inequality becomes a problem. As I say, inequality is a feature of the universe; not unique to humanity, so unequalness is not a problem itself.
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