say they work on containment. Facebook revives dormant relationships. But while the pie is increasing, he says, not everyone is benefiting. However, Solow told me that the struggles of Americans with middle and lower incomes represent a very different phenomenon from the growth of the super-richand a far more worrisome one. In the United States, this education premium began rising steeply in the late 1970s, when the surge of college entrants dramatically slowed and the availability of high-skill workers consequently dwindled. Unfortunately, that is increasingly probable. Facebook users are much more politically engaged than most people. The athletic facilities are a newly paved outdoor basketball court whose rims, as one student excitedly points out, actually have nets. In 2010, the richest 1 percent of the population had 34 percent of the accumulated wealth; the top.1 percent had some 15 percent. Such economic logic now rules a growing share of the marketplace; it is, according to Brynjolfsson, an increasingly important reason why a few entrepreneurs, including the founders of such startups as Instagram, are growing rich at a staggering rate.
One of the largest and most prominent debates in social sciences is the role of technology in inequality, says David Grusky, director of Stanfords Center on national air and space museum essay college Poverty and Inequality. Whereas Turing had posited a humanlike intelligence, Vinge, Moravec, and Kurzweil were thinking bigger: when a computer became capable of independently devising ways to achieve goals, it would very likely be capable of introspectionand thus able to modify its software and make itself more intelligent. Questions have been raised about the social impact of widespread use of social networking sites (SNS) like Facebook, LinkedIn, MySpace, and Twitter. Foreign Affairs, Brynjolfsson, McAfee, and Michael Spence, a Nobel laureate and professor at New York University, argued that superstar-based technical change is upending the global economy. A central point of his book is the simple statement r g, where r is the average return on capital and g is the economic growth rate. Home tech, how I learned to love (some) printers. But one fact that everyone agrees on, he says, is that the income gaps between those with different levels of education account for a good share of the inequality. In other words, the lack of access to high-quality education is not just bad for the students in East Palo Alto; it is bad for the companies a few miles away in the worlds most concentrated center of technology innovation. It just seems a bit daft. Still, as Pikettys lengthy analysis suggests, the explanation for the rise in inequality is not a simple one. 20 comment on another users photos.
Its a relatively modest facility but, by all descriptions, a huge improvement over the cramped building the 13-year-old charter school occupied before. Thats not how it works anymore. Since the 1950s, economics has been dominated by the ideanotably formulated by Simon Kuznets, a Harvard economist and Nobel laureatethat inequality diminishes as countries become more technologically developed and more people are able to take advantage of the resulting opportunities. About 20 to 25 percent of the population works in the high-tech sector, and the wealth is concentrated among them. But if differences in educational achievement based on family incomes are really whats driving inequality, Grusky worries, we cant solve the problem by letting people who have privileged access to a good education reap the advantages and then taxing their resulting higher earnings. Wage inequality in the United States is probably higher than in any other society at any time in the past, anywhere in the world, writes Piketty.
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