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I believe his point is correct relative to the tech industry and your point is correct relative to the greater US economy. American tech pays really well and yo
by safety1st 4y ago
I believe his point is correct relative to the tech industry and your point is correct relative to the greater US economy. American tech pays really well and you really can start out in low places and go on to make great money. But overall the situation for the lower and lower-middle class in the US is pretty rough because cost of living has outpaced wages.
Both are outcomes of globalization. Tech workers have it so good because the US exports its tech to the whole world, the market for US FAANG is billions of consumers strong and other countries offer limited competition. But other American workers have been replaced/outsourced/offshored in great numbers, entire industries have largely evacuated the US because it's so open to foreign products.
- rsynnott 4y ago> Both are outcomes of globalization. Eh. With the notable exception of Germany, most large developed economies are de-industrialising to some extent (and the UK, for instance, has done so to a much greater extent than the US), but even amongst rapidly de-industrialising countries the US's economic mobility story is not great, these days. As with most things, there is no single easy answer for why this is the case.