Let me explain about economy’s S curves.
All economies develop along S curves. They start at the bottom. As it gathers momentum it slopes up. This is S1. Then as it reaches the top it starts to falter therefore it begins to curve down.
Hopefully before it starts declining, a S2 economy would have started so there is an overlap. Workers in S2 are higher educated than S1 workers and hopefully S1 workers are being retrained to enter the S2 economy in time. But, it’s not easy so there is a social and pay gap.Society in such a situation is fraught […]
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