In Defense Of The One-Percenters


stem-imageSome officials are blaming the rising economic inequalities in the United States to “earnings gap between skilled and unskilled workers,”  says Gregory Mankiw  Harvard economist and former chief economic adviser to President George W. Bush.  When education advancement slows down as seen in the 1970s,  the increasing demand for skilled labor will naturally cause inequality to rise.  Some people would consider these inequalities as the “race between education and technology.”  There is a dire demand for STEM talent in the areas of in science, technology, engineering and mathematics, which we are all aware is very tight supply and dominated by foreign students.

Why are we behind when it comes to science, technology, engineering and mathematics, are we simply not up to speed like the rest of the world.   Mankiw admitted that  “We economists must recognize not only the limits of what we know about inequality’s causes, but also the limits on the ability of our discipline to prescribe policy responses.”

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