Globalization–the death of the middle class?

‘..The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world.  After all, what corporation in their right mind is going to pay an American worker ten times more (plus benefits) to do the same job?  The world is fundamentally changing.  Wealth and power are rapidly becoming concentrated at the top and the big global corporations are making massive amounts of money.  Meanwhile, the American middle class is being systematically wiped out of existence as U.S. workers are slowly being merged into the new “global” labor pool.

………In 1950, the ratio of the average executive’s paycheck to the average worker’s paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
……..In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector…’                                            source

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