CHAPTER 1
COMPENSATION IN A KNOWLEDGE-BASED GLOBAL ECONOMY
In the 80’s, 90’s and into the twenty-first century, many major political, social, and economic
issues related to social class structure in the USA began to emerge. Who are the poor? Does this group
include more than the homeless and those completely reliant on government-related economic support?
Who are the middle class? Who are the rich in the USA? Although there has been much conversation at
The twenty-first century will witness the continued advancement toward a global economy. Of
vital interest to all nations will be how to improve the lifestyles of their citizens. Critical to lifestyle
improvement is job-related income and the ability of the job providers to compete within a global
economy.
Since this book is about money that employers provide in various forms in exchange for
employee acceptance and performance of work requirements, this author feels that the reader, from the
KEY CONCEPTS
1. The move toward democratic-capitalistic political systems and the concurrent importance of
work-provided compensation.
2. The rise of a seven-class social structure.
SIGNIFICANT POINTS OF INTEREST
1. Recognizing the role of labor costs in developing competitive practices.
3. The desire of approximately 70 percent of the population to advance into the middle–
class of society.