Wealth inequality increased significantly in the US in the late 20th century. Cheap labor is definitely a candidate explanation. But I don't mean immigration, a

Wealth inequality increased significantly in the US in the late 20th century. Cheap labor is definitely a candidate explanation. But I don't mean immigration, although undocumented cheap labor is part of it, I mean globalization of trade and the rise of China. Now, everyday Joe has to compete with two billion foreigners who will work harder than he will and for less. So of course car plants are going to shut down and the monetary value of his/her unskilled labor are going to plummet. That's just supply and demand and unsurprising. On net, I think it's a humanitarian miracle that these counties are rising up. But it's undoutedly a big part of the inequality picture in the US.