Principles of Microeconomics / Unit 14 MIC 1310 short lesson, about 20 seconds
Sources of Rising Inequality
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The idea
Two attributed explanations. Household composition: two-earner couples, like marrying like, more single parents. Wages: graduates' supply rose greatly, which alone would lower the skill premium, yet it rose, so demand shifted right by more.
In practice
Technology and global markets raised what skilled workers produce.
Where people slip
Winner-take-all markets push top pay beyond education's reach; income is a flow, wealth a more unequal stock.
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