3 ms·
Great article, I wasn't aware the share of the middle class had dropped so significantly. I think there is also another factor that plays a role in the de-demo
by ramblerman 6y ago
Great article, I wasn't aware the share of the middle class had dropped so significantly.
I think there is also another factor that plays a role in the de-democratization of wealth. In the olden days you could be the biggest fish in your pond, but as that pond grows it's becoming more and more a winner takes all ocean.
> As more occupations become scalable, jobs that were previously stable are becoming risky. Telehealth enables superstar doctors to serve customers in markets that were previously inaccessible to them. Connected fitness devices like Peloton allow superstar instructors to serve thousands of customers at a time, making the average instructor in your local gym redundant. The same dynamic applies to many other service and knowledge jobs.
- https://www.drorpoleg.com/the-ponzi-career/ https://www.drorpoleg.com/the-ponzi-career/
- mLuby 6y agoEconomics aside, let's not forget that personal relationships are inherently unscalable. Sure we can get "5 personalized minutes" with that superstar doctor or fitness instructor, but maybe we're missing out on more human connections with average locals.
- 0wis 6y agoIt can also be seen as a huge opportunity to create niche-stars. There is little value for the world in thousands copycats when you can have a large distribution. However, there is value to find the best fit. I have hope in a future in which everyone can find the best doctor to fit its own needs or even better, where the number of doctor "specialities" is broader.
- pas 6y agoPDF: https://economics.mit.edu/files/11563 https://economics.mit.edu/files/11563 about the disappearing middle-income jobs (because those are the things that sit at the optimum point on the cost-benefit curve for innovation - be that automation, offshoring, better organization, standardization, etc) The problem is, there's too big of a labor market force pushing wages down in the low-income segment.
- bagacrap 6y agoDoctors are still time constrained so that one seems like a poor example.