Month: October 2011
What caused the wealth gap? (in the US over the past 30+ years)
So it’s not really Wall Street and big banks which are the source of our econmic problems, it’s globalization.
“for most of American society, and certainly for the majority of Americans who don’t have a bachelor’s degree, globalization has meant facing much lower-wage workers abroad and increasingly powerful competitive pressures. So our society began to separate between the “haves” and the “have-nots,” really in the early 1980s.”
And paraphrasing: Ronald Reagan’s solution to the problem (less government), completely missed the point and, in fact, made things worse.