tag:blogger.com,1999:blog-3448927642739850334.post3204459503072136955..comments2023-10-29T08:06:00.610+00:00Comments on The Political Economist: Percentages and inequality: where is the middle class?Vuk Vukovichttp://www.blogger.com/profile/01878567452492217960noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-3448927642739850334.post-7335242400609236972013-01-22T00:05:39.834+00:002013-01-22T00:05:39.834+00:00you make a few good points, but what I was in part...you make a few good points, but what I was in particular aiming at was how people with unique skills get paid more, and people willing to invest into gaining more skills also get higher incomes. There was a lot of restructuring on the labour market in the past 50 years where a lot of new jobs were created based on the existence of new technologies. It were these new industries and markets that led to a rapid accumulation of wealth and rising living standards for many Americans. <br /><br />In terms of the stagnating incomes of the middle class, I would think about it from another perspective - how many new innovations became affordable to almost everyone. So despite an on average stagnating income, a lot of products are available to a great majority of the populations (personal computers, cell phones, and internet availability are just one of those for example). <br /><br />I certainly agree that inequality is a big issue, but what I'm most concerned with is the lack of social mobility. This is what made America great in the past, and it would be a shame if it ceases to exist as it did before. Vuk Vukovichttps://www.blogger.com/profile/01878567452492217960noreply@blogger.comtag:blogger.com,1999:blog-3448927642739850334.post-37990418555217417092013-01-21T19:23:55.545+00:002013-01-21T19:23:55.545+00:00I would not dispute the stats in the chart above. ...I would not dispute the stats in the chart above. But the question that I have is what is the distribution across the board.<br /><br />By that I mean this. What if a small percentage of every 100 college grads makes the majority of the money.<br /><br />One hundred college grads together may earn five million dollars a year but to get a better picture of things you must break it down further. If just twenty grads earn an average of one hundred twentyfive thousand dollars a year that would mean twenty grads would earn as much money as the other eighty grads combined. The average of the other eighty grads would be only thirtyone thousand dollars a year.<br /><br />I would also like to say I have nothing against improving yourself through formal education for some things its neccessary to learn through formal education.<br /><br />Where I really disagree is with all this credentialing based on these different degrees high school bachelors masters doctorate we have created a class structure based on these different degrees.<br /><br />Learning can take place in many different ways and forms besides just through formal education. How many folks are their out their that have a vast amount of knowledge about a wide aray of topics but they will not get a credit for what they have learned because they do not have any formal education transcripts to prove they have acquired the knowledge that they have.<br /><br />I have had a computer for almost three years when I bought it I did not know how to type I was a terrible speller. I have come a long way in less than three years. I can type and spell pretty good on my computer today. I taught myself to type on the computer I learned how to use the computer by myself I did not take any lessons or anything like that.<br /><br /><br /><br /> QUALITY STOCKS UNDER 5 DOLLARShttp://www.zipleaf.us/Companies/The-Manhattan-Calumet-Value-Stock-Hotlinenoreply@blogger.comtag:blogger.com,1999:blog-3448927642739850334.post-22106631309789742962013-01-21T18:46:35.307+00:002013-01-21T18:46:35.307+00:00Its true that the middle class is really wealthy c...Its true that the middle class is really wealthy compared to the middle class in south america but the important thing is what direction are we moving in. If 50% percent of the workforce is getting increases in their wages that average only 2% per year but prices are increasing by 3% than the middle class or at least the lower middle class is shirnking.QUALITY STOCKS UNDER 5 DOLLARShttp://www.zipleaf.us/Companies/The-Manhattan-Calumet-Value-Stock-Hotlinenoreply@blogger.comtag:blogger.com,1999:blog-3448927642739850334.post-5637254897858554922012-01-21T17:16:41.584+00:002012-01-21T17:16:41.584+00:00If that's the case, then the problem is obviou...If that's the case, then the problem is obviously cronyism. <br />Again the argument stands that those who point out to high inequality and taxes for the rich are missing the point - that won’t make the system more fair, nor will it make it more equal. It’s nothing but a political trick for the voters. <br />What is essentially needed is more meritocracy, not less, in order to decrease inequality. I'm always in favour of giving everyone an equal opportunity, so that those who are the best arise above. There is nothing more fair than that.Vuk Vukovichttps://www.blogger.com/profile/01878567452492217960noreply@blogger.comtag:blogger.com,1999:blog-3448927642739850334.post-49428723722002568082012-01-21T10:58:21.852+00:002012-01-21T10:58:21.852+00:00Found it! (the article from the Economist) it'...Found it! (the <a href="http://www.economist.com/node/3518560" rel="nofollow">article</a> from the Economist) it's a good piece, they were talking about this issue a long time before it became fashionable among liberals to talk about it.Charlienoreply@blogger.comtag:blogger.com,1999:blog-3448927642739850334.post-12291320320824335632012-01-21T10:53:45.804+00:002012-01-21T10:53:45.804+00:00I was mostly thinking about the last decade or so....I was mostly thinking about the last decade or so...I read this <a href="http://www.nytimes.com/2012/01/05/us/harder-for-americans-to-rise-from-lower-rungs.html?_r=2&hp" rel="nofollow">article</a> the other day from NY Times, and they offer some research evidence on how 42% of Americans raised in the bottom fifth stayed there..Here's the <a href="http://ftp.iza.org/dp1938.pdf" rel="nofollow">paper</a> on that. <br />Maybe that's just the media perception, but it's still an issue in my opinion. There was also this great article from the Economist a couple of years ago (when this whole debate didn't even begin to worry people) but I can't seem to find it...<br /><br />Now, I don't know how old you are, but it's natural there is progress. The economy grew a lot since I was growing up (80-ies) and today things are much better than in the 90-ies, for example, cause we had a long time of prosperity. But along the way something lost its courseCharlienoreply@blogger.comtag:blogger.com,1999:blog-3448927642739850334.post-46712037432610315382012-01-20T23:39:07.161+00:002012-01-20T23:39:07.161+00:00Charlie, do you have any evidence for this? It see...Charlie, do you have any evidence for this? It seems to me that I pass by thriving businesses in my town everyday which have hispanic names. Most of these people came here with nothing, and had a language and cultural barrier, yet they do quite well through hard work and risk taking. <br /><br />In fact we are in a recession, but even in an economic downturn everything is better than it was when I was growing up. There is more opportunity not less.kyle8http://impudent.edublogs.org/noreply@blogger.comtag:blogger.com,1999:blog-3448927642739850334.post-38022346411328858482012-01-20T22:51:21.497+00:002012-01-20T22:51:21.497+00:00I agree that no one should be punished for being s...I agree that no one should be punished for being successful, but it's a fact that in the US, the system isn't a meritocracy anymore. It became very hard for kids from lower "classes" to make it to the top...<br /><br />this is probably what the people are referring to when talking about the disappearing middle class...Charlienoreply@blogger.com