Additional Factors Contributing to US Income Inequality
Beyond the effects of market competition, other significant drivers of rising household market income inequality in the United States include automation and the "China shock." Both of these phenomena have led to job displacement for certain groups of workers, often pushing them into lower-paid, less secure employment or causing them to exit the labor force entirely.
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Introduction to Macroeconomics Course
Ch.2 Unemployment, wages, and inequality: Supply-side policies and institutions - The Economy 2.0 Macroeconomics @ CORE Econ
The Economy 2.0 Macroeconomics @ CORE Econ
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Automation's Impact on US Income Inequality
The 'China Shock' and its Impact on US Income Inequality
Analyzing Drivers of Market Income Inequality
A manufacturing plant that has been the primary employer in a small US town for 50 years closes down. The company's official statement explains that new robotic systems can now perform the assembly line tasks more efficiently and at a lower cost in a centralized facility. Many of the displaced workers, who have specialized in manual assembly, are forced to take lower-paying jobs in the local service sector. This situation is a direct example of which phenomenon contributing to household market income inequality?
Analyzing Economic Disruption in a Manufacturing Town
Match each economic phenomenon with the description that best illustrates its impact on household market income inequality in the United States.