Tuesday, September 17, 2013

Exhibit G: Growing inequality...

While there were stark differences in salaries when I was choosing my major (almost 50 years ago), the gap has become truly shocking.


There are very sound reasons for this, but more to my point is the decreasing number of majors to fill in the middle. These gaps would be OK if not echoed all across our economy, with a clearer and clearer divide between "will-haves" and "will not haves".

Sound reasons also do not seem to mitigate the consequences of vast inequality. Even if justly allocated, do we want to live in a society of rich and poor? More importantly to me, have we damaged many of the ladders that allow not only climbing up the ranks, but provide an avenue of recovery if you slip out of the top brackets. Scarily enough, we are raising the penalties for losing a job, catastrophic illness, and other career interrupting events. If you drop down, I think it is increasingly likely you will stay down.

And so will your children.

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