Question
The table below is included in your notes. While it is true that recently the rich have been getting richer and the poor have been
The table below is included in your notes. While it is true that recently the rich have been getting richer and the poor have been getting poorer, there is also a well-documented earnings gap between the college-educated and those who are not college-educated. There is speculation the demand for skilled labor has risen over time, in relation to the demand for unskilled labor, leading to greater income inequality. A second hypothesis is technological advances have led to the disparity, take for instance the West Coast. The West Coast is full of tech businesses that demand a highly educated workforce, those that do not have the skills suffer substantially higher rates of unemployment and homelessness along the West Coast. Take a political philosophical take on this issue. Should there be a redistribution of income between the well-educated and those that are not? Why or why not? (Minimum 300 words)
TABLE 1 1977 2017 Men $53,947 $77,469 +44% $51,493 $90,725 +76% High school, no college College graduates Percent extra for college grads Women High school, no college College graduates Percent extra for college grads Average Annual Earnings by Educational Attainment College graduates have always earned more than workers who did not attend college, but the gap has grown even larger over the past few decades, $31,740 $41,602 +31% $36,927 $64,252 +74% Note: Earnings data are adjusted for inflation and are expressed in 2017 dollars. Data apply to full-time, year-round workers age 18 and over. Data for college graduates exclude workers with additional schooling beyond college, such as a master's degree or Ph.D. Source: U.S. Census Bureau, Tables P-32 and P-35, and author's calculationsStep by Step Solution
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