The widening gap between rich and poor means dealing with one big, uncomfortable truth: If you're not at the top, you're at the bottom.
The global labor market is changing radically thanks to growth at the high end and the low. About three quarters of the jobs created in the United States since the great recession pay only a bit more than minimum wage. Still, the United States has more millionaires and billionaires than any country ever, and we continue to mint them.
In this eye-opening audiobook, renowned economist and best-selling author Tyler Cowen explains that phenomenon: High earners are taking ever more advantage of machine intelligence in data analysis and achieving ever-better results. Meanwhile, low earners, who haven't committed to learning or to making the most of new technologies, have poorer prospects. Nearly every business sector relies less and less on manual labor, and this fact is forever changing the world of work and wages. A steady, secure life somewhere in the middle is over.
With The Great Stagnation, Cowen explained why median wages stagnated over the last four decades; in Average is Over he reveals the essential nature of the new economy, identifies the best path forward for workers and entrepreneurs, and provides listeners with actionable advice to make the most of the new economic landscape. It is a challenging and sober must-listen - but ultimately exciting and good news. In debates about our nation's economic future, it will be impossible to ignore.
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Disappointing analysis of future
This book was a view design to make the devision of the classes seem to be a stable thing. Capitalism is unstable when this happens- one person one vote right? Will democracy support this? How many channels of propaganda news will it take to keep the kings on their thrones? Keynesian Econ 101 says capitalism is good but; one it does not guaranty full employment, and two it does not provide a fair distribution of wealth. This book says that both of these are gone, but we in a democracy will be able to keep capitalism stable?
In the future when this view has had a chance to be shown faulty.
Narration was good
Who profits from this kind of economy?
Interesting, but where is the spiritual nature of man in this book?