Last week I talked about the communication consequences of extreme political polarization. The same consequences exist when it comes to economic polarization. And when both of these situations exist simultaneously, the consequences are doubly serious.
Former Secretary of Labor, Robert Reich, and filmmaker, Jacob Kornbluth, have recently teamed up to produce a video on the topic of economic polarization. Inequality for All explores the potentially dire consequences of the widening gap between the haves and have-nots in American society… and most especially, the dangerously weakening of a critically essential middle class.
Wall street versus Main street media stories sometimes create the illusion that they are simply separate situations. One is about stock prices and investment earnings, and the other is about a weakened local job economy. But the reality is that the wealth of corporate and Wall street executives is ultimately dependent on the skilled work and talent of those in the middle and working classes.
In the short-term, Wall street wealth can be leveraged through financial manipulation. But in the final analysis, the entire system will collapse when middle-class managers and other workers evaporate, walk off the job, or even worse… become violent.
This situation has very much to do with communication dynamics. First, media coverage tends for a while to allow most individuals to feel distant from ultimate consequences. Second, human nature produces some period of withdrawal and denial, believing that things will eventually get better. But when the situation seriously deteriorates to the point of extreme middle-class and working class hardship, a perceived greed and lack of caring at the at the top inevitably will lead to social collapse.
Interactive communication, based on a sincere and shared desire to solve the problem, including an acknowledgement of mutual interdependence, is the only way forward. Otherwise, a polarized economy will lead to polarized rhetoric, which will lead to a seriously destructive social class collision. And with the same situation existing at the same time in American politics, the consequences for our democracy can be frightening.