Do It Yourself


Do It Yourself

One of the effects of the wealth gap is it can breed corruption. Inequality can fuel corruption, and corruption can fuel inequality, resulting in an unhealthy cycle. People who are poor, or paid very little, have little to lose if they participate in corrupt activities. Extreme wealth and high salaries give people an incentive to engage in risky activities.

The wealth gap also may result in criminal activities such as gangs. These activities make it more difficult to hire and retain the proper authorities. Thus, society may end up with people in these positions which aren't the best for the job.

The service economy and advances in technology are two things that can make these matters worse. There are a lot of people with high salaries, long work hours and busy schedules. They demand a lot of services. This means pet sitters, deliveries, housekeepers, home improvement services, babysitters, lawn services, etc. This means more people on their properties and in their houses. These same people are also the ones which don't make very much money, and may not have very many benefits.

With the advances in technology, it is very easy to know the whereabouts and activities of people. At this time, how many data points are available for a given individual? Then, there's predictive analytics.

Companies can, theoretically, compete against one and other through corrupt activities. This would probably be minimized if more of a broad middle class were encouraged through smart government and corporate policies.

Higher salaries and longer hours for professionals could be changed to lower hours and less pay. Sometimes a household has a couple where they're both very busy. Maybe someone should stay home and guard the fort, thereby demanding less in services. A move away from the service sector and better opportunities on the other end would also help.

Government can do a lot through tax structures. Maybe we need a robot tax Or, domestic manufacturing operations could be dissuaded from having so much automation. Sometimes the automation doesn't even result in higher profits. Globalization is another thing. Sometimes we need to find more affordable ways of making things here. Sometimes the benefits from some of the business strategies don't outweigh the costs, in the long run.

Comments