income transfer
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Nick Szaboยท 2025-11-06 03:45
RT Nick Szabo (@NickSzabo4)There's some relationship, but as with most things in economics there are multiple causes. The main cause here is the big drop in real wages over the last several decades among young adults -- in effect a vast income transfer from wage earners to asset holders. The main cause of this is the growing globalization of wage labor, which has been proceeding for decades. In other words, competition among wage earners across the globe has greatly intensified due to increasing trade, incr ...