Unsurprisingly, their arguments are just a warmed over version of the same ones they published when they decried millenial socialism a few years back:
It is wrong to think that inequality must go on rising inexorably. American income inequality fell between 2005 and 2015, after adjusting for taxes and transfers. Median household income rose by 10% in real terms in the three years to 2017. A common refrain is that jobs are precarious. But in 2017 there were 97 traditional full-time employees for every 100 Americans aged 25-54, compared with only 89 in 2005. The biggest source of precariousness is not a lack of steady jobs but the economic risk of another downturn.
I’m not entirely sure the intervening years have done much to dispel worries amongst millennial socialists that jobs are precarious, despite the Economists’ scolding.
Unsurprisingly, their arguments are just a warmed over version of the same ones they published when they decried millenial socialism a few years back:
I’m not entirely sure the intervening years have done much to dispel worries amongst millennial socialists that jobs are precarious, despite the Economists’ scolding.