More Income Disparity in Japan
The New York Times reports that income disparity is increasing in Japan. This appears to be another result of globalization, and the increasing precedence of capital over labor. Good jobs are disappearing everywhere, and reappearing where they are not “good” by world standards because the pay is so low, although they may be good for the country to which they move. In some cases, e.g., Mexico, the person moves to the job but remains Mexican, in others the job itself moves to Mexico. This is efficient, but is good only for those who own the enterprises that are doing the work.