SchwartzReport: Workers are Poor — This Is Unsustainable

03 Economy, 11 Society
Stephan A. Schwartz
Stephan A. Schwartz

I have had a series of emails from readers over the past couple of weeks describing the growing poverty of themselves, and people they know. Mostly they seem to be middle aged not quite senior level businesspeople who were laid off, and have been unable to find work despite years of searching. As this Harvard study points out this is an unsustainable dynamic.

Widening Gap Between US Rich and Poor Is Unsustainable, Says Study
The Guardian (U.K.)

The widening gap between America’s wealthiest and its middle and lower classes is ‘unsustainable”, but is unlikely to improve any time soon, according to a Harvard Business School study released on Monday.

The study, titled An Economy Doing Half its Job, said American companies – particularly big ones – were showing some signs of recovering their competitive edge on the world stage since the financial crisis, but that workers would likely keep struggling to demand better pay and benefits.