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The poor are not getting poorer and the middle class is becoming rich. In the US anyway. Fundamentally the problem is that people think that someone having more
by wang_li 5y ago
The poor are not getting poorer and the middle class is becoming rich. In the US anyway. Fundamentally the problem is that people think that someone having more money than then is some kind of ethical issue. Not to mention something like 100% of these analyses are univariate and that makes no sense at all since it's perfectly rational that a 20 year old has much less wealth and income than a 60 year old with an advanced degree and 40 years of work experience.
We could just as easily be outraged that some people have more life expectancy than other people. Seems unfair that a person who is 60 and has 15-20 years of life left has to work 40 hours per week to maintain their lifestyle which is exactly the same amount of hours a 20 year-old who has 55-70 years remaining expects to work in a week.
- deleted 5y ago[deleted]
- readthenotes1 5y agoCitations? (I recall reading an article claiming this is what happened to the middle class about a decade ago, but I don't remember where or how trustworthy. It's hard to reconcile with the real lack of increase in real wages.)