The Age of Inequality

The question of earnings - who earns what, and whether or not they are worth it - is very contentious. Gulfs are widening between different groups: the rich and poor; the private and public sectors; "worthwhile" professions and occupations concerned solely with wealth extraction. Inequality is also growing within these groups: between a few mega-earning superstars as exemplified in the "fat cats" debate, and the mass of dispensable also-rans. In this work, inequality analyst Stephen Machin discusses both the populist and expert views on why rising inequality has emerged in Britain, and what the social and economic implications are likely to be for individuals. There are complex economic forces at work, but the basic trend is simple: in the age of knowledge workers, rapidly-changing technology and global competition, a few winners will get richer, while the rest of us get poorer.