"think of the programmers and accountants who got themselves educated and trained as they were told to do, and now find their skills don't make them any more employable than assembly-line operatives.
Blinder reckons 30 to 40 million American jobs - between a quarter and a fifth of the total - are potentially offshorable. Not all will go, but the threat will send a shiver down the spine of Middle America and, Blinder predicts, transform its attitudes to social safety nets.
Combine that with the rise of the super-rich. This is another effect of globalisation: capital can ignore international barriers and drive down taxation by setting one country against another. Under new Labour, Britain has become a tax haven for the very wealthy and, as we are slowly realising, the distorting effect on the London-area housing market is profound. A generation of middle-class youth is moving into its thirties without the smallest prospect of owning a home"
New Statesman - Revolt of the middle classes:
2 comments:
I see we both read the new statesman.
Well, I suspect it may have been you that led me there! I saw a similar comment a little while back in the New Internationalist but I think that it may have been your posting that alerted me to the NS's article. Should have given a hat-tip but by the time I got to it I wasn't sure of my trail back ... But now I'm almost certain it was you; thanks!
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