4 ms·
While there are plenty of problems with Silicon Valley, I'm not sure that we should lay slow growth and widening inequality in the US at tech's doorstep. For on
by whakim 7y ago
While there are plenty of problems with Silicon Valley, I'm not sure that we should lay slow growth and widening inequality in the US at tech's doorstep. For one, the timelines don't even align: inequality has been growing (and growth slowing) since the 70s and 80s, not only in the United States but also in most other developed countries. Neither is the author particularly well-versed on the economics of inequality - during much of the 19th century (i.e., the Industrial Revolution), inequality continued to increase even though there was an upturn in certain indicators such as real wage growth and health outcomes. The author even seems to admit this at one point, so at the end of the day the piece simply boils down to "Tech is bad, so we should figure out a higher-growth industry to make bets on."