Quote Originally Posted by Aimless View Post
That's a question that deserves to be examined. What are the consequences of [increasing] economic inequality? I've personally only seen the question approached from political and moral angles. Economists never content with answers like "it's good enough because everyone's better off" when there are possible scenarios in which everyone might be even better off. Surely some great economic thinkers have looked at the consequences of eg. income inequality...??
Mayor Bloomberg is among the few political leaders who recognizes the potential consequences----social unrest. Growing polarity, not just between top income minority and lower income majority, but in our politics and 'governance'. It leads to extremism, fanaticism, dysfunction. It's surprising that the anti-government or less government posters here don't make the connections between money and power. Money in our politics that fuels lobbyists and huge donors, special interests that hold sway over our elected reps, policies favoring the biggest funders. Energy, healthcare, banking, education, trade...follow the money.

Thanks for some more context I just realised that most of those college graduates are probably not in the 20th percentile in that graph. I have no idea why GGT would want you guys to go back to a manufacturing-oriented economy, we should ask her.
I've never said we should go backward to "old" manufacturing that would be inefficient by today's standards. But we should have "modern" manufacturing here in the US, using robotics and technology, making new and future things (solar panels, iPads, bullet trains, IT). Some of that doesn't require a four year degree, maybe only two years with apprenticeships, trade school or community college.

It's great that people have two cars and five ipads but I can't help but feel as if it might be even better if people also had more quality time with their kids and less stress in their lives
And mobility. Economic and social. The housing bust has left millions of people immobile, even those with college degrees looking for jobs, especially those over 40. Some degrees only help "tread water" (or are totally useless in a down economy). There are economic thinkers discussing a lost decade, or a possibly lost generation, and the old American Dream of having a better life than the generation before may have hit a wall.