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Some would argue that the two are linked... wealth from the middle classes being transferred to the extremely poor. The wealth of the rich doesn't seem to be sh
by ZenoArrow 11y ago
Some would argue that the two are linked... wealth from the middle classes being transferred to the extremely poor. The wealth of the rich doesn't seem to be shrinking.
- spikels 11y agoCorrect! Because of increased trade low skill workers in rich and poor countries more and more compete for the same work. This raises the value of low skilled workers in poor countries where their incomes gone way up but lowers their value in rich countries where their incomes have stagnated. In my opinion this is a clearly a good thing as their are many more low skilled people in poor countries and they are much much poorer. So a few hundred million forego raises to lift more than a billion out of abject poverty. Seems like good deal.