Wessel.Levy.Blinder on Outsourcing and Technology

Wessel.Levy.Blinder on Outsourcing and Technology - Wessel...

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Wessel and Levy on Outsourcing, Technology, and Inequality
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Inequality According to economists, the distinguishing feature of the U.S. economy of the past quarter Ͳ century is a sharp increase in economic inequality. No matter how you slice the data, very well Ͳ paid workers have done better than the rest. Let s look at inequality in the 1980s and 1990s
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Inequality in the 1980s Roughly 90% of full Ͳ time workers earn less than $90,000 a year. In the 1980s, wages of $90,000 Ͳ a Ͳ year workers (measured in today's dollars) pulled away from workers at the middle, and wages of those in the middle pulled away from workers at the bottom. Computer technology changed the workplace . Winners: In the 1980s, computer technology made employers prize and pay more for skill and education. Losers: In the 1980s, computer technology undermined employment and wages of those at the bottom whose jobs were easily automated or shipped overseas.
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Inequality in the 1990s The 1990s were different. Nearly all workers did better than they did in the 1980s ͲͲ even those at the bottom, the ones who notice when the minimum wage goes up. The $90,000 Ͳ a Ͳ year group continued to do better than men and women in the middle, but the gap between the middle and the bottom stopped widening.
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