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> if you are not an "elite" employee, region, nation, age-range, industry, etc., then you get left behind Do you? While it's technically correct that inequalit
by BjoernKW 9y ago
> if you are not an "elite" employee, region, nation, age-range, industry, etc., then you get left behind
Do you? While it's technically correct that inequality is increasing the baseline level is increasing, too.
So, while an average person's wealth in comparison to the richest person's perhaps has decreased by orders of magnitude in recent decades at the same time globalization and capitalism not only helped with massively reducing poverty but also with increasing the number of people who - while not exactly rich - make a decent living.
They might be relatively poorer than their 1970s counterparts when compared with the richest people of their respective time periods but in absolute numbers or compared with the economy as a whole they're much better off.