Global income inequality: Where the U.S. ranks

In class we talked about the timely topic of the larger gap erupting between the rich and the poor in America. This article accentuates this by comparing America's gap to other foreign countries. While U.S. does not ranked last in equality--it beats out some Latin America countries--Europe, Canada, Australia, South Korea and most other developed countries are found to have more income equality than the US. The article attributes this inequality to two main factors. One of them we covered class, a rise in technology. As jobs require greater skills a high school and college degree become more valuable. An additional point the article makes is increased globalization is "squeezing the middle class." Companies now have the option to outsource jobs to other countries where workers are not paid as well.

http://money.cnn.com/2011/11/08/news/economy/global_income_inequality/

Andrew Beckerman