Income Inequality: We've Botched It
Since 1970, capitalism has marched society forward providing great increases in productivity through computers, robots, and the internet. Over this period the median household income has not kept pace with the increase of productivity. These increases have mainly gone to the top 1% of earners, creating an unstable situation that encourages civil unrest. Offshoring of labour markets has eliminated a lot of quality manufacturing jobs in favour of low paying yet plentiful labour in Asia and China. Because of this degradation in income, many families are forced to have two incomes to make ends meet. This results in a significant decrease in standard of living over what our parents' generation could afford. The plight of single parents in this scenario is devastating. Without a stay-at-home parent much of our spare time is taken up with household chores, and we incur additional expenses of daycare, and outsourcing of household maintenance that we would otherwise have time to do ourselves. How did we get here? Is there a solution?
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