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Why Income Inequality May Actually Be a Good Sign
While there has been much angst about rising income inequality here in America the increase is probably far less dramatic than the surface stats would seem to indicate forget that the same thing has been happening in industrialized nations around the world, even ones that have very different tax systems from ours. So with that in mind, I found the results of this study on income inequality from Claudia Goldin and Lawrence Katz of Harvard University most interesting (Efcharisto Greek for thank you Andrew Samwick at Vox Baby):
The majority of the increase in wage inequality since 1980 can be accounted for by rising educational wage differentials, just as a substantial part of the decrease in wage inequality in the earlier era can be accounted for by decreasing educational wage differentials. workforce, more than kept pace for most of the twentieth century. born cohorts has been a major factor in the surge in educational wage differentials. Polarization set in during the late 1980s with employment shifts into high and lowwage jobs at the expense of the middle leading to rapidly rising upper tail wage inequality but modestly falling lower tail wage inequality.
1) It really is all about education, both here and overseas. Advanced economies, whether America's or Denmark's, are knowledge economies. And knowledge economies reward education. Get a degree, expand your skills, and you will do just fine. (And this doesn't just mean math and science. Rightbrain skills like creativity and communication pay off, too.) The unemployment rate in this country for workers with college degrees is a skimpy 2.1 percent.
Remember, two of the Golden Ages of income equality were the 1930s and 1970s,[url=http://www.onitsukatiger.com.sg]tiger shoes[/url], the two worst decades in the 20th century for the economy. The more educated our workforce, the more productive it will be. The secret of economic growth is getting as many people as possible to work as intelligently as possible. That's it. So it's hard to see why raising taxes and reducing rewards for the highly educated a great extent the same group as the socalled rich entrepreneurs will make our economy more productive. (It's certainly a risky strategy.) We want people to see education as the path to success. Because it is.
2) The GoldinKatz study is about wage inequality. For total income inequality, you also have to factor in income from owning stocks and bonds. As I have pointed out before, the stock market has boomed far in excess of overall economic growth for the past quarter century. So, anyone who derives income from wages alone probably can't keep up with those who have big stock portfolios. gross domestic product has doubled to $11.4 trillion, while total stock market capitalization has increased 14fold. The real economy one that pays wages isn't growing as fast as the financial economy. companies during that period."

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The hepatitis B vaccines suspected of causing the death of two babies have been sealed for investigation, a manager of the company that produces them said.
The vaccines were produced by Biokangtai in Shenzhen, Guangdong Province.
The company produced 450,000 hepatitis B vaccines last year and the suspect ones came from two different batches, Southern Metropolis Daily reported, citing a Biokangtai manager.
The manager told the newspaper the bulk of the vaccines were sold to Hunan Province, where two babies have died after receiving a vaccination.
However, 3,600 vaccines were sold to Guangdong Province and some to Guizhou Province, the manager added.