/biz/ - Business & Finance

>>2803776
Ho? Really?

Sure, why not then.

0xb7aA88f43e1Ad3D745D02587Cf9a55A87eC31937

>>1950991

>skill-based technical change in the economy, particularly automation does away with jobs with less educational requirement and more demanding services become dominant (note: applies mostly to the West)
>high-skill and higher education is more valued, particularly in creative, highly technical, and/or capital-intensive industries
See:
http://economics.mit.edu/files/5571
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1888515
http://press.princeton.edu/titles/7704.html

>globalized and competitive context means industries increasingly operate under winner-take-all models, in which only a few individuals get the lion's share of the rewards (see: CEOs and corporate execs, music artists that are popular vs. the legions that aren't, popular academic professors with books that sell and online lectures that are watched vs. other professors, etc)
See:
https://www.amazon.com/Winner-Take-All-Society-Robert-H-Frank/dp/0028740343
https://hbr.org/2008/07/investing-in-the-it-that-makes-a-competitive-difference
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1819486

>capital vs. labor, with labor losing out due to automation and population growth (the latter meaning that someone will do the same job for less). Capital owners (particularly those who own machines, assets, investments, etc) see increasing returns
See:
https://blogs.wsj.com/economics/2011/09/28/its-man-vs-machine-and-man-is-losing/
https://www.bls.gov/opub/mlr/2011/01/art3full.pdf

Then you can throw in a number of other factors: current experimental central bank policy, inflation, a carving out of manufacturing (traditional path from lower class to lower-middle class, critical to maintaining social cohesion and reducing income inequality), ubiquitous nature of tech jobs, ridiculous costs of education (raising children = more expensive, pushes local reproduction downwards, drives policy makers to encourage immigration whilst disregarding culture and race), etc etc.


We could argue this all day.