🌍Globalization and automation have led to increased downward pressure on wages.
👥Polarization and lack of consensus are exacerbated by the splintering of media and the power of social media.
💪The economy works best when everyone has a stake in it, and workers have money to spend.
🌱Investing in education and infrastructure is crucial for competitiveness in the global economy.
🌟Redesigning the social compact is essential to ensure that the benefits of globalization are shared by all.
How has globalization affected wages?
—Globalization and automation have resulted in increased downward pressure on wages, particularly for manual workers.
How has social media impacted polarization?
—The rise of social media has amplified polarization and made it harder to generate consensus by creating echo chambers and promoting selective exposure to information.
What is the importance of workers having money to spend?
—When workers have money to spend, it stimulates economic growth and benefits businesses as well.
Why is investing in education and infrastructure crucial?
—Investing in education and infrastructure is essential for remaining competitive in the global economy and ensuring future prosperity.
What does it mean to redesign the social compact?
—Redesigning the social compact involves creating policies and measures that ensure the benefits of globalization are shared by all, including fair wages and opportunities for upward mobility.
00:10Globalization and automation have led to increased downward pressure on wages.
01:45The rise of social media has amplified polarization and made it harder to generate consensus.
02:30The economy works best when everyone has a stake in it, and workers have money to spend.
04:00Investing in education and infrastructure is crucial for competitiveness in the global economy.
05:30Redesigning the social compact is essential to ensure that the benefits of globalization are shared by all.
