The Culture Proof — Why the Rich are Getting Richer But Not the Poor

The hypothesis here at the Culture Proof, related to this topic, is that it is because the completion rate of education after high-school, that includes trade apprenticeships (Factors behind low apprenticeship completion rates), is on par with the inflation rate (graduation to total population) even as the GDP of nations seem to be growing. Much of this growth is driven by debt and automation, not by a greater number of skilled workers. What has been heralded as an advancement in education enrollment is disappointed by the high number of incompletes and the ordinary number of graduates, across all skills and industries. Such that the service economy, which goes from high knowledge to minimum wage menial work, is ballooning on the bottom end, requiring the government to raise the minimum wage for those stuck at that level. I believe there are far fewer graduates lamenting student debt and more incompletes dropping out saddled with unusable schooling and debt load. And what is creating the widening disparity is the rapid rate at which graduates are completing even more education after the Bachelor degree level. Paradoxically, Canada’s workforce is becoming less literate as the number of the extremely highly educated increases (Canada’s workforce faces troubling slide in literacy, numeracy: study). The gap is between the well trained highly knowledgeable specialist, who might be employed by the ultra wealthy, and the one who have dropped out, yet live in the same political district due to the effects of gentrification. Both appear the same but hold vastly different real potential. In terms of credentials granted by universities, master’s, and bachelor’s and first professional degrees (MD, JD, MBA, etc) increased by 5.7% and 5.2% respectively per year between 2001 and 2007, while earned doctorate degrees increased 4.5%. That is markedly higher than the inflation rate of approximately 3.5% which is matched by an ordinary first time graduation rate at colleges, apprenticeships and universities, even though the focus has mostly been on enrollment which has ballooned as has incompletes.