A Bubble Induced Economy & The Wage Gap
![A Bubble Induced Economy & The Wage Gap A Bubble Induced Economy & The Wage Gap](https://5ux.com/sites/5ux.com/files/styles/medium_250/public/resize/remote/f3dffa117453fc2503f7af7a73722d9d-450x238.jpg?itok=yO4OwohI)
Submitted by Leonard Brecken via OilPrice.com,
During the 1990s, developing nations including Mexico and many in Asia became very competitive manufacturing bases due to lower wage structures. This, I believe, was the root cause of the use of failed fiscal and monetary policy to “close the gap” with the competitiveness of low-cost wage structures around the world, which has played out for three decades. The result has been three bubbles and a worsening systemic problem of wage and taxation disparity between the U.S. and developing nations.