It was great coming across this paper following my post on Financial Literacy and Income Inequality. MIT’s David Autor authored “Skills, education, and the rise of earnings among the ‘other 99 percent'” echoing some of my sentiments in his first sentence:
The singular focus of public debate on the “top 1 percent” of households overlooks the component of earnings inequality that is arguably most consequential for the “other 99 percent” of citizens: the dramatic growth in the wage premium associated with higher education and cognitive ability.
The paper focuses on and quantifies skills and education earnings gaps highlighting drops in non-college employment opportunities in production, clerical, and administrative positions. Why is this not being discussed? Would the energy focused on taxing the 1% be used more productively by turning it toward the education gap?