Post-pandemic, the trend of Corporations raking in higher and higher profits, while needing fewer and fewer staff scares me.
The most obvious and likely outcome is it drastically separates the ultra wealthy from middle class.
With rise of AI and automation, that trend will likely accelerate. The top 10% hold more than 50% of wealth. It's likely in a few decades, the top 1% will hold more than 50% of the wealth. They already hold 28% of wealth.
The most obvious and likely outcome is it drastically separates the ultra wealthy from middle class.
With rise of AI and automation, that trend will likely accelerate. The top 10% hold more than 50% of wealth. It's likely in a few decades, the top 1% will hold more than 50% of the wealth. They already hold 28% of wealth.
https://fredblog.stlouisfed.org/2022/10/the-wealthiest-0-1-o...
https://fred.stlouisfed.org/graph/?g=UdXz