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July 22, 2004

Even Greenspan Thinks Wage Inequalty a Problem

Amazing, even Ayn Rand discipline Alan Greenspan thinks the widening gap between the earnings of richer and poorer workers is a problem:

"We do have problems with the distribution of income," he said. "The skill premium for skilled workers versus lesser-skilled continues to widen.
"Real wages have been rising," he said, but "there's been a disproportionate rise in the 20 percent of payrolls which were supervisory workers," who have higher qualifications, while the wages of hourly workers have "barely budged."
So even Greenspan agrees that the wages of average workers are stagnant.

Posted by Nathan at July 22, 2004 08:07 AM