Title: Causes of Income Inequality in the United States | Stocks and Coffee
Headings: Causes of Income Inequality in the United States
Causes of Income Inequality in the United States
Income Inequality Causes
Globalization
Technology
US Government and Monetary Policies
Final Thoughts

Content: The money saved from outsourcing goods and labor is mainly used to increase the income of top-level executives. Technology
The ever-increasing role that technology plays in our lives is also playing a significant role in income inequality. Over the last 60 years, technology has drastically changed the way of living in the US. The digitalization and augmentation of labor is diminishing job opportunities across the board. Those with a higher education are more sought after to operate or create the software and technology used in the modern world. Authors Dao, Das, Koczan, and Lian (2019) described in the World Economic Outlook by the International Monetary Fund that “In advanced economies, about half of the decline in labor shares can be traced to the impact of technology. The decline was driven by a combination of rapid progress in information and telecommunication technology, and a high share of occupations that could be easily be automated.” White-collar jobs that were once available for the less educated are disappearing as technology advances. Those that cannot afford a college education are left behind and have an even more difficult time finding lucrative occupations. On top of this, the valuations of US tech companies are breaking records.