America and Britain in trouble

Both America and Britain are in trouble because there is no smooth progress from what used to be manufacturing countries transiting to a new era of advanced scientifically-based services. It is mainly these which can pay for the physical goods we used to make but only import now.

There is a great wedge between good quality private schools and elite universities, and state education and a plurality of second grade colleges and universities.

Another way of saying it is that there is plenty of social mobility within an upper middle class portion of the population and also within the bulk of the population but very little between them. The upper segment is able to adjust to new circumstances as they arise. The lower segment continues to drift downwards in real earnings and anything meaningful by way of future work and skills.

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