Basically the rich are getting richer and the rest aren't doing so well. Wonder if this helps explain some of the political turmoil we're going through?
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I'm sure it does but so do lots and lots of other factors. A very partial list of why there's been economic dislocation since 1989 must include the Great Recession, easy credit card, pay day loan and sub prime mortgage availability, manufacturing and agricultural jobs evaporating due to mechanization, the spread of English coupled with internet technology and mobile devices connecting the world and spreading jobs around the globe, great efficiencies in containerized shipping that make goods and supplies available at rock bottom prices, cheap airfares that let people migrate for work, high tuition and crushing student loan debt, crushing medical debts, a glut of capital searching not just the U.S. but the whole planet for places to invest.
And there are benefits to all this creative destruction, like cheaper goods than ever before (the Walmart Effect), cheap energy, low interest rates, easy credit, availability of information, jobs for tech workers.
Note that most of these trends have very little to do with policy, even though plenty of politicians on the left and right will try to say otherwise and will propose government-based solutions, whether walls and mass deportations, cut or raised corporate taxes and regulations, no or better trade deals. And voters and the media will believe that politicians have a clue and can actually control things in such a topsy-turvy world.
Regardless, it is truly not 1989 anymore and it's fruitless to compare today to that very different time in search of some standard for what wealth distribution "ought to be." Robotics in manufacturing is really still in its infancy, 3-D printing will also change everything and, who knows what else awaits
Somehow I don't think politicians will be of much help in navigating it, though they will say they can and voters and the media will demand that they do.
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