Observation: Last weekend, a story in the New York Times carried the misleading headline, The Dwindling Power of a College Degree. I wanted to share it before filing it away because as I read it, the article struck me as less a story about education than it was about shifting business fundamentals in America. The second half of the story points-out tectonic shifts which have impacted the art of making a dollar, including reduced regulations (which used to affect top earners), and declining labor unions (which used to hold sway over how low wages could go). It was an interesting read, with regard to advancing trends among earners (aka, consumers). Click here to read it.
Implications: As the story opines in its closing paragraphs, it would be difficult to imagine what the new financial world order will look like as the post-recession economy starts to normalize. But it would be reckless to not keep an eye on how things are changing… whether the chasm that defines the Dumb Bell Economy continues to grow, or whether the country resolves to equalize earning power and taxes in some way.
Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.
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