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> I’m optimistic about inequality. In the U.S., inequality is getting worse and worse, and you’re optimistic about that because ... China’s making a large midd

• simonh 5y ago
  Inequality actually started falling in many states from 2010 to 2018 driven by wage rises for low income families and a tighter labour market, but obviously the pandemic has messed everything up since then. Still, I do think the effects in play before the pandemic are still there. The reasoning is that wages in developed countries were depressed because many of them were competing with cheap Chinese labour. Now Chinese labour isn’t as cheap so that competition isn’t as fierce.
  • bmitc 5y ago
    Wages, particularly minimum wages, are just one component of inequality.