4 ms·
> downwards pressure on wages I would believe that if it weren't for the fact that top-level pay has significantly widened from the bottom-level pay.
by inetknght 3y ago
> downwards pressure on wages
I would believe that if it weren't for the fact that top-level pay has significantly widened from the bottom-level pay.
- ToValueFunfetti 3y agoI don't know whether the claim is true, but I think this effect supports it. Women are underrepresented at the top, so you'd expect the wage pressure to be lower there.
- nemo44x 3y agoThere’s also many more people (in percentage terms and actual) that are making top level pay. The upper middle class has expanded greatly. Once the domain of lawyers, doctors, and execs, the upper middle class has been opened to a wider range of professionals. 50 years ago this class of people was <5% of people. Today it approaches 30%. The lower class has also shrunk. So this has come at an expense to the middle class. It isn’t that the middle class is poorer but rather are closer to the lower class than upper middle. Before the middle class was much larger and more people were similar and people compared themselves that way. This is why housing in some markets seems insane to people in other markets. And why middle class people are locked out when living in an upper middle area.