2 ms·
"Many city residents blame a growing wealth gap on large technology industry salaries." This is why the economic left loses while the social left (e.g. gay rig
by api 12y ago
"Many city residents blame a growing wealth gap on large technology industry salaries."
This is why the economic left loses while the social left (e.g. gay rights) tends to win. The economic left blames the successful for the unsuccessful and has a zero-sum view of the world. How far would the social left get if racial equality protestors had argued that whites should have less rights? How far would gay rights activists get with "we need to take the benefits of marriage away from heterosexuals?" Yet this is precisely how the economic left approaches issues.
The only time success is to blame for others' hardship is when that success is actually criminal or parasitic -- e.g. financial fraud, corrupt government contractors profiteering off tax revenue, imperial theft of others' wealth through outright warfare, etc. The tech industry isn't doing that to any significant degree.
The inequality problem in SF is due primarily to real estate hyperinflation, which is the fault of NIMBYism and poor city planning. Those high techie salaries are helping, not hurting, by pumping more money into the economy. Unfortunately real estate is the dry sponge soaking up almost all that upside.