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by paulpauper·11y ago·view on hn ↗
Ultimately, I think this whole debate on wages, STEM, wealth inequality, and automation boils down to IQ. http://greyenlightenment.com/winner-take-all-nation/

IMHO, people are falling behind because of low IQs and the winner-take-all economy that enriches some, but doesn't leave a whole lot for everyone else. Today’s hyper-meritocracy is amplifying the socioeconomic ramifications of individual cognitive differences such that a person with an IQ >110 is much more likely to succeed than someone with an IQ <90, whereas decades ago the disparity wasn't so obvious.

The solution, on the other hand, -I don't know. No one really knows, and that's why this is such a big debate. So many people realize that this is one of the most pressing issues of the 21st century. How are we going to develop a compromise or solution that handles automation-related jobs loss and inequality. Some propose a basic income; others want redistribution; others wants more spending on education, and so on...

From students fresh out of college and in debt, to people looking for jobs, or people who have been laid-off, we're all a part of this debate. Economics is not just for economists - now more than ever we all experience it in our everyday lives.