INEQUALITY IN AMERICA

 

Between 1993 and 2010, over half the increase in US national income went to households in the top 1% of income distribution. 95% of the total income gains during the years 2009-20132 were taken by the wealthiest 1%. Income inequality is America is on par with the Philippines.
The old adage, that a rising tide lifts all boats gets very tiring when you haven’t had a meaningful raise since the Nixon administration.

Change can only be instituted and promoted by political leader. However, in the US, to a greater degree than any other advanced nation, politics are driven almost entirely by money. Wealthy individuals and the organizations they control mold government policy through political contributions and lobbying which produce outcomes clearly at odds with what the public actually wants. As those at the apex of the income distribution become increasingly detached, living in a bubble that insulates them almost entirely from the realities faced by the majority of Americans, there’s is a very real risk that they will be unwilling to support investment in the public good.

Combine this that almost all entry level, routine job, jobs that cane be learned by algorithms, will displace the great majority of workers, who will buy the products produced by the companies? You might think the wealthy, the corporate leaders, would see this as a ceiling that cannot be exceeded. But you would be wrong. They will export services too the countries. (70% of our economy is service oriented – services that can and will be provided by computers and advanced algorithms, not people)They will be involved in finance which will depend increasingly on foreign clients. Yes, they will watch the great majority of American go jobless, then lose their homes, go on pubic assistance. And they will not lose one minute sleep while they do.
A 2013 study by Carl Frey and Michael Osborne concluded that occupations amounting to nearly half of total US employment will be vulnerable to automation within the next two decades.

What can we do? First, elect Bernie Sanders. If that fails, go back to school and gain skills that will be marketable in the coming computer / robotic age.

Or, buy a video game, a graphic novel, watch sitcoms, check out porn, read romance and sci-fi novels, stick your head in the sand and hope it all passes by you.

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