The reason for inequity is nothing new

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The reason for inequity is nothing new

Marx explained it best. Those with capital win, especially in a global economy with very few unique workers. If you can leverage yourself to take advantage of cheap labor and global markers, you win. You're the plantation owner. You make efficiencies on the backs of workers, use technology and labor from emerging markets. You wipe out local competition with manufacturing/servicing of scale. You merge and merge until no one can compete with you.

Then you end up like one of the Waltons or the shareholders of Apple, making billions per day on the backs of cheap Chinese and min wage American slaves.

Even if your margin is slim on a local level, you are big enough to have very nice aggregate revenue overall.

It's not a new tech wave that's causing inequities, it's the same old crap that's been happening for centuries. It just happens that people that once were valued, i.e. college grads, are now becoming a part of the proletariat. Industrialism is dying, machines are getting smarter, and the competitive value of at least 80% of human labor is headed to zero as automation takes over. So what do we do with the 80% who are obsolete? The trick is to enable even the "losers" of that lottery to live a decent life.