Tweaching "The New Middle Class" and why its not good! [ECONOMICS]
When the assembly line and mass production came about during the industrialization of the US we developed a four sector economy. The third and fourth sectors became; the service industry, and the education and research sector to train people for more skilled labor
the first two sectors of the economy we essentially eliminated with industrialization and the outsourcing of labor to other countries like china where the cost of labour is much cheaper. This only leaves the third and fourth sectors , but the third, the service sector, is what really booms.
This sector includes retail work, food service, cleaning, but also surgeon and doctors and health care providers.
Expanding the service-based sector of the economy over the first two sectors actually shows a lot of progress for a country, except with the lack of government intervention in the economy we start to see a the divide between the rich and poor widen even more as billions of jobs are added to the top and bottom paying rungs of the service sector, and not the middle.
In fact, recent data suggests that only 1/10th of the jobs added to the service sector of the economy in the last decade or so have been in the middle class wage range.
The problem with this distribution of wealth is that where the middle class income used to be attainable through relatively unskilled labor or jobs that can be learned as you go, we see that most middle class income levels are attributed now to skilled labor and labour that can only be performed with some sort of degree or certificate of vocation.
The issue with this is that in the past 40 years or so, we actually see the focus on higher education for Americans diminishes and less and less individuals are even graduating high school let alone going to college.
This is not due to laziness, but a lack of economic ability. University education on average exceeds 25,000 a year at most institutions. The price of higher education has skyrocketed.
And now we have this pandemic.
Ports and access to other countries and the cheap foreign labour has decreased, but miraculously the American economy and supply/demand chains remain relatively stable. thats because the American people, as a result of economic oppression, have unwittingly created sweatshops in their own living rooms just to survive an inhospitable economic climate created by an inactive an uncaring government with no concern for the health and safety and lives of its people during a global pandemic.
you see it all over The internet, especially on platforms like instagram, etsy and tik tok:
resin this and resin that,
And do you think any of those individuals make a good living? Maybe the top 1% who become influencers and go viral, but the rest?
At the end of the day most of these people will be lucky to make any profit at all, and when you consider their time invested to make their profit, I hardly doubt they are even breaking even
we are resupplimenting the economy with the slave labour it didn’t have access to any more at the beginning of coivd. We are the reason that our economy is still operating decently.
but we are being treated like shit while our government reaps the rewards.