A Paragraph to Ponder

From a book review of Average is Over by Tyler Cowen- - link.

"Perhaps most disheartening is the frightening plausibility of the predictions. Cowen notes that the contemporary labor market woes of young workers are “a harbinger of the new world of work to come,” because “lacking the right training means being shut out of opportunities like never before.” The accelerated hollowing-out of the American economy in the wake of the recession bodes poorly for the revival of the middle class. About 60 percent of the jobs lost during the downturn were mid-wage occupations, and 73 percent of the jobs that have been added during the recovery have been low-wage jobs. Political debates are highly polarized, and the political power of the winners in today’s society far outstrips those of the less-fortunate in ways that continue to suggest a vicious circle. For those committed to a more sanguine future, a great deal of work lies ahead."