Commentary: Strong Growth Will Shrink The Wage GapChristopher Farrell
Is rising inequality the inevitable consequence of economic growth? Over the past two decades, it sure has seemed that way. The very forces propelling growth in the U.S.--the ever-increasing prominence of the microprocessor, heightened international competition, and widening deregulation of the economy--have also boosted demand for highly skilled, educated workers at the expense of those with fewer skills. The result: a dramatic widening of the wage gap. For example, in 1980, the median male college graduate earned about a third more than the median high school graduate; by 1993, that gap had widened to more than 70%.
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