14 August 2011

Why income disparity might matter (to you and me)

Tom Friedman seems to be the foreign affairs columnist that everyone likes to take pot shots at. Easy target I suppose. But today he has an interesting column on why there are so many angry demonstrations and political movements in the world, from the Tea Party, to Egypt, to Israel to the burning streets of London. Here is his conclusion and any comments would be appreciated. It might turn out to be something I will ask my students to read next week. Here's his conclusion:
So let’s review: We are increasingly taking easy credit, routine work and government jobs and entitlements away from the middle class — at a time when it takes more skill to get and hold a decent job, at a time when citizens have more access to media to organize, protest and challenge authority and at a time when this same merger of globalization and I.T. is creating huge wages for people with global skills (or for those who learn to game the system and get access to money, monopolies or government contracts by being close to those in power) — thus widening income gaps and fueling resentments even more.

Pay attention to that widening income gap. The one many American politicians, mostly corrupt millionaires, tells us is not important.

Apres moi...

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