OECD: Wage Inequality Will Only Get Worse From Now Through 2060 http://www.businessinsider.com/wage-inequality-will-slow-the-economy-2014-7/comments en-us Wed, 31 Dec 1969 19:00:00 -0500 Sat, 27 Dec 2014 12:41:46 -0500 Mamta Badkar http://www.businessinsider.com/c/53b4cdb0ecad041f54d8477e Pema Wed, 02 Jul 2014 23:27:44 -0400 http://www.businessinsider.com/c/53b4cdb0ecad041f54d8477e Probably not. Today's income inequality is a result of globalization. The top 1% has access to the global market while the 99% are locally constrained. For example if US was completely isolated, and let's say company A pays it's employees $50k and has a market of 300 milion people. In a globalized world on the other hand, the employee still gets paid 50k but the company has a market of $7 billion. So the owners of the company (the 1%) are potentially 25 times richer while the 99% have the same wealth. So even if the salaries are doubled (which would improve 99%'s life dramatically) it would still be nothing compared to the 1%. People should chose a more productive issue to complain about (higher minimum wage, safety net, more vacation time etc...) because income inequality can't / wont be solved. http://www.businessinsider.com/c/53b4a7a969bedd044ae18530 728huey Wed, 02 Jul 2014 20:45:29 -0400 http://www.businessinsider.com/c/53b4a7a969bedd044ae18530 I find it highly unlikely that wage inequality will continue unabated because there will be a tipping point where if the top 1% don't increase wages for the bottom 99%, it will ultimately lead to revolution and/or war. It has happened throughout time, and the current time is no different. Wage inequality ultimately destroyed the Roman empire, led to the French Revolution in 1789, led to the Bolshevik revolution in Russia in 1917 that ushered in communism, and was partly responsible for the Arab Spring. It nearly happened here in the USA during the Great Depression, but Franklin Roosevelt's economic polices help ameliorate much of the suffering of the lower classes and newly unemployed. As for most of the current one percenters who are hoarding their wealth in offshore accounts, there are only so many gated communities you can escape to before you realize you have created your own little prison. And how do you expect to raise your own crops when you haven't worked a hard day in your life?