Saturday, July 26, 2008
Higher Tech Economy Responsible For Income Shift?
If more education in a higher tech society were responsible for shifting 12.5% of income share from the bottom 90% of earners to the top 3%, then: getting a graduate degree must normally yield MANY MULTIPLES (pardon if I shout) of increased income share to each such "higher tech" earner (CEOs earning 25 times what CEOs of 25 years ago, e.g.) -- or could it possibly be lack of institutional checks and balances to protect the American labor majority's income share (suspect there are lots of graduate degrees among top 20 percentile earners) in our too unfettered free market.
My suggestion for a fairer, more "fettered" labor market: legislation to establish sector-wide labor agreements -- the surest (truly world-wide tested) approach to end American labor's unique among modern economies race to the bottom nightmare. 2:02 pm