Upward Mobility and Wealth Creation
I've been thinking about upward mobility and the lack there of in many Latin American countries. In many places, even accomplished professionals can't climb the "corporate ladder." For every qualified professional, there is always another equally qualified professional willing to work for less. It's a race to the bottom of downward wage competition. For example, a recent graduate right out of college might earn $400 a month. A veteran engineer, lawyer, or architect will still earn that same subsistence salary after twenty years in the field. Even making all the right career decisions and receiving the education to advance in an industry doesn't provide opportunity to move up economically (which of course includes an inability to save and invest in one's future).
As I think aloud and write stream of thought, I wonder how artificially attacking over population and over saturation of job markets could help alleviate the inaccessibility of wealth movement. By this I mean taking measures like limiting the amount of college degrees awarded in certain fields. With less competition in job markets, becoming a professional would actually allow for wealth accumulation.
Yes, those already in the upper class would probably benefit most from this system and unskilled workers would overflow to unemployment. I'm not saying limiting degrees is the right solution, I'm only suggesting that there has to be a way to differentiate workers in ways that favor certain experiences so as to allow populations to accumulate wealth.
The status-quo race to the bottom isn't working and the accepted common sense solution of simply increasing education is not a cure-all response. Only in selecting and attacking the specific causes of this failed system can nations better utilize their human capital to create opportunities as opposed to sustaining a runaway train of outbidding in job markets.
As I think aloud and write stream of thought, I wonder how artificially attacking over population and over saturation of job markets could help alleviate the inaccessibility of wealth movement. By this I mean taking measures like limiting the amount of college degrees awarded in certain fields. With less competition in job markets, becoming a professional would actually allow for wealth accumulation.
Yes, those already in the upper class would probably benefit most from this system and unskilled workers would overflow to unemployment. I'm not saying limiting degrees is the right solution, I'm only suggesting that there has to be a way to differentiate workers in ways that favor certain experiences so as to allow populations to accumulate wealth.
The status-quo race to the bottom isn't working and the accepted common sense solution of simply increasing education is not a cure-all response. Only in selecting and attacking the specific causes of this failed system can nations better utilize their human capital to create opportunities as opposed to sustaining a runaway train of outbidding in job markets.
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