This article says this incredible rise is not due to trade, information technology, unions, immigration or rising ranks/earnings of executives or company managers.
But you know - say it with me, Trumpettes: The New York Times is FAKE NEWS. (And the rich people deserve it.)So What’s Going On?
Almost all of the growth in top American earners has come from just three economic sectors: professional services, finance and insurance, and health care, groups that tend to benefit from regulatory barriers that shelter them from competition.
[...]
Problems [...] include subsidies for the financial sector’s risk-taking; overprotection of software and pharmaceutical patents; the escalation of land-use controls that drive up rents in desirable metropolitan areas; favoritism toward market incumbents via state occupational licensing regulations (for example, associations representing lawyers, doctors and dentists that block efforts allowing paraprofessionals to provide routine services at a lower price without their supervision).
[...]
The United States also stands out in terms of how much money its elite professionals earn relative to the median worker.
[...]
This ratio, the elite professions premium, is very highly correlated with income inequality across countries.
New York Times
...but hey, do what you want...you will anyway.
No comments:
Post a Comment
Many thanks for your interest and your comments. They may be delayed in getting posted - it all depends on the time M has to review them.