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What is happening in the Western world (rise of inequality due to skills being prized higher owing to technological change) is very different to what ha
by mrcactu5 13y ago
What is happening in the Western world (rise of inequality
due to skills being prized higher owing to technological
change) is very different to what happened in Russia.
We are currently in a period of technological change and - as we see on HackerNews everyday - skills are being prized. Ostensibly we are supposed to be helping the economy. Now it sounds like we're making income inequality worse since we know things that other people don't.
I had no idea what to Google for more information but I found this outdated paper from 1998 in the Quarterly Journal of Economics http://economics.mit.edu/files/3809 http://economics.mit.edu/files/3809 We get supply-demand analysis like
the unprecedented increase in the supply of college
graduates during the 1970s may have been causal for both
technological developments and the changes in the
structures of wages in the past two decades
That paper was written in 1998, I wonder if there's more recent discussion on relationship between valuation of skills and wealth inequality.
- mseebach 13y agoReducing equality is not the only measure for helping the economy. Software driven automation has made enormous sections of the economy more productive and there's plenty more to do. But yes, as comfortable middle class jobs are largely automated away, inequality increases. "Average is over" by Tyler Cowen is largely about this shift. It's not a particularly comfortable read, but I struggle to fault his analysis.