inequality in 2016 overview notes
TRANSCRIPT
The new age of inequality and The new age of inequality and what it means for education:what it means for education:
economics and sociologyeconomics and sociology
Middlebury CollegeMiddlebury College--
January 2016January 2016
Introductory hedgesIntroductory hedges• My perspective: future of educationMy perspective: future of education• Caveat1: some of the data is Caveat1: some of the data is
controversial or provisionalcontroversial or provisional• Caveat2: narrow scope of economic Caveat2: narrow scope of economic
inequalityinequality• Caveat3: narrow scope of United Caveat3: narrow scope of United
StatesStates
1.1.The macroeconomic The macroeconomic picturepicture
http://www.newyorker.com/news/john-cassidy/pikettys-inequality-story-in-six-http://www.newyorker.com/news/john-cassidy/pikettys-inequality-story-in-six-chartscharts
The top takes offThe top takes off
AlfredsAlfreds
The top takes offThe top takes off
Emmanuel Saez, Gabriel Zucman and Thomas Piketty (2016), Emmanuel Saez, Gabriel Zucman and Thomas Piketty (2016), https://www.washingtonpost.com/news/wonk/wp/2016/01/06/what-top-reshttps://www.washingtonpost.com/news/wonk/wp/2016/01/06/what-top-researchers-discovered-when-they-re-ran-the-numbers-of-income-inequality/earchers-discovered-when-they-re-ran-the-numbers-of-income-inequality/
Long-term trend: Long-term trend: hollowing out hollowing out the middle classthe middle class
Causes: no consensusCauses: no consensus
GlobalizationGlobalization De-industrialization, rise of serviceDe-industrialization, rise of service (related) De-unionization(related) De-unionization ““Supermanagers” (Piketty)Supermanagers” (Piketty) Winner-take-all economy (Frank + Winner-take-all economy (Frank +
Cook)Cook) Financialization (Arrighi)Financialization (Arrighi) Market-focused, or neoliberal ideologyMarket-focused, or neoliberal ideology
Causes: widespread Causes: widespread automation?automation?
Causes: widespread Causes: widespread automation?automation?
Goldin and Katz, Goldin and Katz, The Race Between The Race Between Technology and EducationTechnology and Education (2010): (2010):
““[I]f the supply of skills does not [I]f the supply of skills does not increase at the same pace as the increase at the same pace as the needs of technology, then groups needs of technology, then groups whose training is not sufficiently whose training is not sufficiently advanced will earn less and be advanced will earn less and be relegated to devalued lines of relegated to devalued lines of work, and inequality with respect work, and inequality with respect to labor will increase.” (305)to labor will increase.” (305)
Changes in job typesChanges in job types
Decoupling of aDecoupling of aDecouplinDecoupling of g of income income from workfrom work
Restructuring Restructuring distributiondistribution
Inflection of racismInflection of racism
Demographics starting Demographics starting upup
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