Sunday, June 7, 2015

Little economic musings...

The new economic reality goes like this. Fewer high-skill jobs that pay handsomely, less medium skill occupations that pay alright and the remaining jobs left are low skill with very low pay.

More folks get great education, more aspire to the less numerous top jobs, which means a crazy competition; super high and specialized skills have become the sesame of the day to excellent earnings, living the crumbs to the rest of the population...

If you're a plumber or an electrician and your job can't be done by an Indian or a Chinese working for a fifth of your wages yet, you're still in luck, but for how long?

I predicted a long time ago that with such a large disparity in global wages and an incredible ease of exchanges, something would have to give, and we, the developed nations, have just begun “giving...”

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