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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