News flash. Congress and the White House may actually be able to compromise on a deal to avoid the fiscal cliff. They may even be able to agree on the $4 trillion-debt-reduction-over-the-next-decade deal that has been dubbed the Grand Bargain.
But what was a key ingredient to winning the recent election is also a great opportunity for Congress to address now. That’s the recognition that our country is much more diverse than ever before in its history.
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This changing demographic is affecting our economy, our standing in the world, and the quality of our education.
The country faces a relentless tide of globalization and technological change compounded by the burden of the largest aging population in history.
The challenge to the economy is represented by two numbers. The first is $3837. That’s how much the income of the typical middle class family shrank from 2000 to 2010.
The second is 17.42%. This is how much the top earners increased their wealth over that same time period and it’s more than double the amount of wealth increase over the previous 30 years.
What’s needed is a realization that there is plenty of wealth for all. But that realization must carry with it support mechanisms that enable people at all levels of wealth to have the opportunity to increase that wealth.
To survive economically, we really have no choice. Globalization will keep pressure on manufacturing workers by continuingly placing them in competition with cheap labor in China and other developing countries.
The best educated and well-connected in America will continue to benefit from technological advances and financial prowess in new markets opened by globalization.
As you review your business plan for 2013, making education a marketing priority
marketing!) and deciding to intentionally offer your services to a more diverse clientele will not only grow your business faster.
It will contribute to spreading wealth without penalizing those who have already taken advantage of opportunities to build it.