The editorial “Highly educated and jobless” by Colleen Teubner discusses an important issue but conspicuously omits one thing — what she studied. One of the most talked about issues today is income inequality. The fact is that one of the main reasons for that inequality is a large increase in earnings of people in high-paying service jobs.
We have a system of government helping people study Elizabethan poetry while companies like Microsoft, Google, Apple, Facebook, and others have to bid up the price for qualified employees. Maybe it is demeaning to be on the 9-to-5 treadmill for a high-tech company, but that is the way to contribute to innovation and economic expansion. As bad as things are in this country we are better off than Japan, the Euro area, and other rich countries. The main reason for that success is that many Americans have not tried to get back to the good old days of making things. In a world with robots and awash in 75 cents an hour labor, innovation is the only way to stay ahead. Spending eight hours a day grinding out computer code may not be uplifting but it creates products and services (real wealth) that people want.