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6 Main Points Of Wealth Inequality

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According to the book, there are 6 main points that contribute to wealth inequality: 1. The technological revolution makes education much more valuable, reduce the demand for semi-skilled and unskilled workers. 2. The industry layout shift from goods producing to services, which also require highly educated workers. 3. Low unionization rate among industries, the rate continue to drop since the year 1954, which result in widening pay differences. 4. Globalization of the economy causes wage to rise among trading partners and decline among own employees. 5. Restructured workforces of businesses. 6. Public policy changes, the safety net for low-income households gradually diminished, the value of minimum wage has fallen. In my own opinion, I believe
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In the article “Confronting Inequality” by Paul Krugman it explains how and why large changes between wages of wealth and the problems between the social classes. America's middle class in today’s society are exceeding their limits in effort to give their children opportunities many middle class parents did not have themselves. Ways that many middle class parents are doing this is by buying homes that they can't afford; this is so their children will be able to attend a good school. Another reason why middle class parent are doing this so that their children can have more opportunities to one day slow the growing gap between the wealthy and the poor. Another reason that inequality between the classes is important Krugman believes is because

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