Monday, October 17, 2011
Friday, October 14, 2011
Here's my take on class warfare; it will continue to increase because the gamut of classes will continue to widen and the gap between the top quintile and bottom quintile will increase to unseen levels and so on and so on.
The interesting part is why. Unfairness? Probably not as much as the protesters would like to admit.
The bottom quintile performs the same type of jobs with no more specialization or skills required than before and they have received pay increases (albeit a small relative amount of about 1% per decade in addition to the 3% for inflation correction).
The top quintile experienced more opportunities to grow wealth by reinvesting their current wealth a la capitalism while simultaneously earning either a similarly small percentage increase over inflation in income or a much larger increase due to increased competition for their scarce talents and potential for talent growth.
The potential and almost exponential nature of talent growth has been where talent gained more income through greater specialization, adding completely novel skill sets, increasing experience involvement, undertaking more complex endeavors and with an increasing number of unique opportunities to grow their talents.
How? It's all been courtesy of the rapid expansion and adoption of new technologies, expanding fields, and completely unique undertakings.
This has allowed for the gamut of income opportunity to expand with the highest quintile increasing the most while the lowest quintile increasing the least by sheer definition, not by unfairness. The range increases with a hard minimum which forces the maximum to skyrocket. The quintiles adjust accordingly like gas spectrometry and molecular weight. Everything has been chromatic with an actual low amount of volatility although with a seemingly high degree of perceived volatility.
I'm not anti-corporation, but I'm also not anti-labor. I'm pro-truth. If I can see more potential evidence that holds up better for the supposed mass atrocities of class warfare and that has been thoroughly diagnosed and stripped of the biases, then I will be much more likely to extend reasonable credibility to the multitude of theories including those that state that the high-income earners are stealing from the low-income earners. It's probably true to a certain degree, but I do not believe that it goes as far as everyone #OCW'ing seems to think. It's not an iceberg, it's more like a piece of flotsam here and there and at most a flotsam island.
If people want to protest Wall Street because workers on Wall Street are paid too much and so on, then I suggest that they make an honest attempt to go work for Wall Street. I have a feeling that if they gain successful employment in a job they hold contempt for now that the difficulty in the requirements for performing the job, the high number of skill sets, specialization, and education necessary, and so on will astound them to the degree that most of the protest fervor from a priori will simmer down reasonably so, but not all, and rightfully so. I just don't think the atrocities are as bad as they are made out to be.
The Devil's Advocate's Devil's Advocate