And they were right. Mid-income people in the rich world were the losers of globalization. There are fewer jobs now where you can buy a house and support a family by working 40 hours/week. Especially for those with no specialized skills.
The same may hit some highly-paid professionals in the future. If tech keeps making things easier while the rest of the world grows wealthier and more competitive, they may find that their skills are no longer in demand. The job is not as demanding as it used to be, and there are more people in the market capable of doing it just as well.
Those at the top are safe, but the top is slowly getting narrower.
> Those at the top are safe, but the top is slowly getting narrower.
This has been happening for decades. It is an inherent property of technology AIG automation driving down marginal costs and increasing yields, all benefiting owners of capital or those who have the ability to help automate.
jltsiren|4 years ago
The same may hit some highly-paid professionals in the future. If tech keeps making things easier while the rest of the world grows wealthier and more competitive, they may find that their skills are no longer in demand. The job is not as demanding as it used to be, and there are more people in the market capable of doing it just as well.
Those at the top are safe, but the top is slowly getting narrower.
lotsofpulp|4 years ago
This has been happening for decades. It is an inherent property of technology AIG automation driving down marginal costs and increasing yields, all benefiting owners of capital or those who have the ability to help automate.
unknown|4 years ago
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