This “Elephant” Chart Proves It’s Good That ‘Joe’ Lost His Job
Earlier, I explained why 'Joe' losing his job was a good thing.
I won't recap the utilitarian rant here as you can simply read it and the accompanying commentary from FT's Rana Foroohar for yourself, but I do want to draw your attention to a visual that illustrates precisely what I was trying to convey.
Have a look at this from Barclays:
(Barclays)
See that giant spike in the middle? Yeah, so that's (and I'm oversimplifying here) people living in emerging markets experiencing a 50%+ in
Love your stuff Heis. Unfortunately “Joe” was in the global 1% at $25/hr. All of these US factory workers making more than $15.50 are among the “elite 1%” on a global scale. Perhaps the graph should be illustrating wealth and not incomes?