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Given the number of Americans and the breadth of places they can live, you're not going to be able to generalize this sentiment. There is Poor as in lacking wea
by 11thEarlOfMar 8y ago
Given the number of Americans and the breadth of places they can live, you're not going to be able to generalize this sentiment. There is Poor as in lacking wealth, there is Poor as in lacking quality, and Poor as in lacking community. Which are we talking about?
There is a persistent social churn in the US. It is a side effect of what we consider progress. Progress is generally an outcome of building businesses that emerge, grow and die. Employees that are valuable to one business may not be valuable to the next, and that transition takes them from being prosperous to being poor and struggling.
One example is the shift from a primarily industrial economy to a primarily service economy. All the factory workers who provided for and raised families in the 50s - 70s came into jeopardy in the 80s-90s as US companies off-shored manufacturing. The families that could not make the transition suffered. They had to buy based on price and low cost won, in spite of the quality.
At the same time, new companies with different business models emerged and the workers of those companies prospered. Consider the semiconductor industry. In the 70s and into the 80s, the US dominated. Then, again, the technology spread globally to Europe and Asia and US fabrication facilities shut down, families were again in jeopardy.
Today, the wealth creation and prosperity is centered on technology companies, which dominate lists of the most valuable companies globally. It is likely that as in the past, these firms will ultimately give way to global competition, and their employees will need to shift.