I couldn’t agree more. There is less of the pie for the poor and middle class. No matter what your talents and your willingness to work, how do you compete with a system that distributes income upward toward those who already have the money? Income inequality continues to squeeze the middle class perhaps eventually into its disappearance.
This brief comment is from a posting on Beat the Press entitled –
If Millennials Do Worse Than Their Parents, It Will Be Because Bill Gates‘ Kids Have All the Money
The Washington Post had a column by a millennial columnist complaining about the lack of opportunity. It is striking that the column never once mentioned income inequality.
There is no doubt that millennials will on average be far wealthier than their parents. Output per hour has roughly doubled over the last three decades, meaning that the real wage could be almost twice as high today as it was in 1980. Insofar as the typical millennial is not seeing the benefits of this productivity growth it is due to the fact that so much income has been redistributed upwards, not the result of any generational dynamics.
Here’s some more from Mother Jones, the New York Times, and Slate.
- The Causes of Poverty (23): The Structure of Income Inequality (filipspagnoli.wordpress.com)
- Youth Research Roundup: Millennial Culture, Affluent Families, New Ypulse Report & More (ypulse.com)
- Millennials: Travel and leisure marketing to a moving target. (5to9branding.com)
- Lila Kalick: The Fleecing of Generation Y (huffingtonpost.com)
- Income inequality is increasing (elkrapidslive.com)
- The Connection Between Union Density and Income Inequality (lawprofessors.typepad.com)
- Book says growing income inequality means more social ills (allthingsreform.org)
- Well that settles it: Income inequality really does go hand in hand with religion (secularnewsdaily.com)
- Human Rights Maps (146): Income Inequality (filipspagnoli.wordpress.com)
You must be logged in to post a comment.