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I am more convinced than ever that widening income inequality is heavily influenced by the widening skills gap in our labor market. There are now huge differences between those that have the necessary skill-sets or can leverage them (holders of capital) and those that do not.
The differences between those who are skilled/versed in certain professions and the average Joe are much larger than they used to be.
I'm currently in an MS Finance program and even though I'm far from an expert or thoroughly skilled in anything, I can see that people won't be learning what we do on their own. 99.99% of young adults are not going to wake up one day and decide to learn these things on their own.
This has to be playing some part in income inequality.
Yes and there is a vast army of right wing paid bloggers who post anti-education rants on the internet. There is an organized campaign against higher ed, especially a liberal arts education.
Where critical thinking skills are honed and developed. That's what they don't want.
Since the GI bill at the end of WWII, things that were formerly reserved for the rich, become available to all. Since the Reagan administration, there have been forces from the right who are hell bent on returning things t=like home ownership and education to their rightful owners - the rich.
There are people right here on CD who seem to do this. Check out the Education forum.
It's ugly and insidious. Sad thing is, there are people who believe it.
No, that's just silly. I've taken a number of financial literacy tests and they suggest I am financially literate, but since I live on a poverty-level shoestring, I don't have any money to invest and grow.
Mathematically one could say that financial literacy is necessary to become wealthy, but is not sufficient. One could also say that financial literacy alone will not make a burger flipper wealthy.
But you are missing the point. Nothing can promise you to become wealthy if that is your goal. An earthquake can wipe your city out. Talk about sufficient factor. Is there one? Why is it that you want to become wealthy instead or just being better than poor? Not everyone will be wealthy. You can live a good life without being wealthy. Does welfare make you wealthy?
Yes and there is a vast army of right wing paid bloggers who post anti-education rants on the internet. There is an organized campaign against higher ed, especially a liberal arts education.
Where critical thinking skills are honed and developed. That's what they don't want.
Since the GI bill at the end of WWII, things that were formerly reserved for the rich, become available to all. Since the Reagan administration, there have been forces from the right who are hell bent on returning things t=like home ownership and education to their rightful owners - the rich.
There are people right here on CD who seem to do this. Check out the Education forum.
It's ugly and insidious. Sad thing is, there are people who believe it.
The skills education they talk about isn't the same as your critical thinking education. The reform in higher Ed is precisely to make it more skills driven. Liberal arts education isn't popular because job placement is poor.
This isn't against higher Ed. It is to reform higher ed for this economy. Too often when people talk about higher Ed, they mean very different things.
The young people today aren't very skilled. In fact these degrees don't necessarily give you marketable skills.
More than ever, young people are going directly after skills that will result in a job. Problem is, when the market tanks, the "marketable skills" become fewer. The skill that would have landed you a job 4 years ago is now no longer hiring.
The growing sector in our economy is products and services for the wealthy... because they are the only ones experiencing an income increase. This is a small demographic, that requires fewer persons to service. The middle class is being squeezed tighter and they don't have the money to spend. So a few people are doing well. I know someone who is setting up tax havens in the Bahamas and he is making great money and loving life. Finance, spying, high tech military, are doing well. Not everyone is willing to sell their soul for a $ though.
When the debt bubbles all popped, the crap economy we've been making for 40 years finally hit hard. Sure, 7 years later things have improved a little. But in all previous recessions we would have jumped back up to the prior long term trend, and we are seeing nothing remotely like that.
The skills education they talk about isn't the same as your critical thinking education. The reform in higher Ed is precisely to make it more skills driven. Liberal arts education isn't popular because job placement is poor.
This isn't against higher Ed. It is to reform higher ed for this economy. Too often when people talk about higher Ed, they mean very different things.
Liberal arts education is exactly what develops and refines critical thinking skills. It is unique in this regard. When I speak about higher education, I am not talking about career training or vocational training. I am speaking about a liberal arts education, which is constantly denigrated by anti-intellectual forces on the internet. It can be seen here on City Data.
It is easier to control people who lack critical thinking skills and a broad based knowledge of history, social policies, government, philosophy, psychology sociology and even literature.
Totalitarian leaders have historically attacked, imprisoned and killed the intellectuals. Hitler did this. As did Stalin and other Soviet dictators. The only state sanctioned education in the USSR was engineering - because of it's military applications and usefulness to the state.
And medicine. Keeping workers healthy enough to do their jobs and improving the quality of life of those in charge are obviously important to a totalitarian state.
We can see that in today's push from the right for the study of STEM only, and the denigration of the liberal arts and social sciences.
Taken into a historical and political context, this is an unprecedented trend in the United States.
Never in our history have we been told what to learn and study and how much education is enough.
Higher education needs to be made accessible and affordable to all.
Not reserved for the sons and daughters of the ruling class.
"Skills driven" is precisely what I object to. Education needs to be directed not towards tasks, but towards learning how to think for one's self.
Certainly "skills" are important. Skills are useful. But not everyone needs to learn how to repair a car, a broken arm or build a house or a bridge. Everyone, however; needs to know how to think for themselves.
However a nation full of people who do not know when they are being deceived because they have never learned to think and to discern, is a potential nation of easily manipulated idiots.
More than ever, young people are going directly after skills that will result in a job. Problem is, when the market tanks, the "marketable skills" become fewer. The skill that would have landed you a job 4 years ago is now no longer hiring.
The growing sector in our economy is products and services for the wealthy... because they are the only ones experiencing an income increase. This is a small demographic, that requires fewer persons to service. The middle class is being squeezed tighter and they don't have the money to spend. So a few people are doing well. I know someone who is setting up tax havens in the Bahamas and he is making great money and loving life. Finance, spying, high tech military, are doing well. Not everyone is willing to sell their soul for a $ though.
When the debt bubbles all popped, the crap economy we've been making for 40 years finally hit hard. Sure, 7 years later things have improved a little. But in all previous recessions we would have jumped back up to the prior long term trend, and we are seeing nothing remotely like that.
You are not going to see that anytime soon. This is The new normal.
High tech in general is doing well. It will create many new jobs in the future. But they are all going to be highly skilled and specialized.
The crap economy has been 40 years in the making. The whole point of globalization is to spread economic opportunities especially in low cost countries. As a result, their labor cost rises eventually. China's labor cost will be very close to that here in another two decades. Then we will see some interesting restructuring of the global economy. And this is what immigration is today and why neither party wants to take any serious action on immigration. Increasing labor supply will help make wages more attractive to businesses. Not to mention that without immigration we would not have enough young people to pay tax in the future. And our econony and influence will shrink, which makes it less desirable for businesses and investors. Who will create jobs here then? And not to mention that immigration increases electoral advantages of the democratic party. As a person of color, I welcome more colored immigrants and increasing our population in america. No one in that party would want to stop it. So, unions, step aside.
Last edited by Costaexpress; 03-31-2015 at 09:56 AM..
More than ever, young people are going directly after skills that will result in a job. Problem is, when the market tanks, the "marketable skills" become fewer. The skill that would have landed you a job 4 years ago is now no longer hiring.
The growing sector in our economy is products and services for the wealthy........
I know quite a few people who have just started into the workforce or who have recently changed jobs.
The new jobs were:
Corporate travel and event planning
Music recording
Electronic installations - for banks and other businesses
Computer programming
Social work
Mold testing and remediation
Nightclub DJ
Med Lab Tech
Med Imaging Tech
Addiction counseling
College admissions - assistant/secretary
Mommy and me program leader (a unique successful business contracted to local libraries)
Sustainable farming research trainee
ESL teacher
Nautical engineer
PR assistant - defense contractor
Carpenters assistant
Therapist - doctoral level
These are not jobs I pulled out of the air. These are jobs that were started by friends, relatives and acquaintances within about the last year. Well those are the ones I can remember. All of these are jobs that existed 4 years ago. Very few of these jobs seem to be "products and services for the wealthy." The closest to that would probably be the carpenters assistant since much of the work he does is home remodeling so I suppose that is a service for the wealthy. If I had to bet I would put money on the carpenters assistant becoming the most successful. In this area plumbers, electricians and carpenters do very well. It time many of them start their own businesses and do very well.
Skillset gap has the biggest influence in the low/mid classes - e.g. skillset may help someone to move out of the lower class (e.g. into a trade), or move someone from middle class to upper middle class (e.g. a doctor). Above upper middle class, skillset is less important, and network and leverage more important.
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