Widening Gap Between US Rich and Poor Is Unsustainable, Says Study

Posted by on September 8, 2014 in Economy with 1 Comment

The Guardian

Striking fast-food workers in Detroit on Thursday, September 4 are among those nationwide demanding a $15 minimum wage, better workplace protections, and the right to join a union. (Photo: Twitpic)

The widening gap between America’s wealthiest and its middle and lower classes is “unsustainable”, but is unlikely to improve any time soon, according to a Harvard Business School study released on Monday.

The study, titled An Economy Doing Half its Job, said American companies – particularly big ones – were showing some signs of recovering their competitive edge on the world stage since the financial crisis, but that workers would likely keep struggling to demand better pay and benefits.


“We argue that such a divergence is unsustainable,” according to the report, which was based on a survey of 1,947 of Harvard Business School alumni around the globe, and which highlighted problems with the US education system, transport infrastructure, and the effectiveness of the political system.

Some 47% of respondents in the survey said that over the next three years they expected US companies to be both less competitive internationally and less able to pay higher wages and benefits, versus 33% who thought the opposite.

The results marked an improvement from a 2012 Harvard Business School survey of its alumni showing 58% of respondents expecting a decline in US competitiveness, according to the survey.

But Harvard wrote, respondents of the 2014 survey “were much more hopeful about the future competitive success of America’s firms than they were about the future pay of America’s workers”.

Harvard called on corporate leaders to help solve America’s wealth gap by working to buttress the kindergarten-to-12th-grade education system, skills-training programs, and transportation infrastructure, among other things.

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  1. lmlindamor@aol.com' linda says:

    Well why not lock up the Rothschilds, Goldsmiths and Murdoch plus a few others for crimes against humanity and distribute their wealth..world peace and less poverty brilliant

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