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Politics : The Runaway Income and Wealth Inequality in America
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From: ryanaka12/9/2019 7:56:05 PM
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Growing Divide
As jobs are automated out of existence, the division between the very wealthy and the very poor will grow — and any notion of a comfortable middle class will vanish.

That’s according to Roey Tzezana, a future studies researcher at Israel’s Tel Aviv University, according to Haaretz. That stands in contrast to the common argument that new jobs will emerge as others vanish, painting a grim picture for the workforce and global economy.

Survival Wages
Tzezana argues that the jobs that tend to survive automation are lower-paying, according to Haaretz, meaning that as companies generate increased wealth, almost none of it ends up in the pockets of workers. Instead, more people are stuck living paycheck to paycheck, even if unemployment rates are technically low.

“This figure is the end of the world for the average people,” Tzezana said, speaking about the growing gap between labor productivity and wages. “It reflects a rather depressing picture: The state and the economy are advancing by storm — but the workers are almost not benefitting from this progress and are left behind. It is almost a catastrophe.”

The end result? A society defined by pockets of extreme wealth but otherwise dominated by people who barely have enough to get by

futurism.com
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