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Isn't there too much theorizing and teeth gnashing? With Asia's fast rise and outsourcing, the increase in global work force has been much faster than the incr
by BugBrother 12y ago
Isn't there too much theorizing and teeth gnashing?
With Asia's fast rise and outsourcing, the increase in global work force has been much faster than the increase in capital investments.
It seems natural that while that happens, the average salaries will go down [or at a minimum stagnate] for the middle class in the old rich countries (supply/demand), since there are lots of well educated people coming from a poor environment.
USA already had larger GINI coefficients than the rest of the western world, which is natural with the size (more heterogenous). So the median values etc for living standards will reflect that.