Published in Forbes
Even before this global pandemic, we were confronted with a dire problem of social (im)mobility for our most vulnerable citizens. Since 1979, the gains of the wealthiest Americans had grown four times as fast as those of the bottom 10 percent of the population, widening inequality. Globally, the top 10 percent in Organization for Economic Cooperation and Development (OECD) countries had been earning ten times more than the bottom 10 percent. That, coupled with increased automation and advancements in technology, already had economists in a frenzy trying to put a finger on the massive job losses to come, especially for low-wage workers.
That was then. This is now.
Today, that worrisome future of work—of massive job obsolescence and unemployment—has become our present.
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