With Americans still trapped in the fifth year of our Great
Recession, and median personal income having been essentially stagnant
for forty years, perhaps we should finally admit that decades of
economic policies have largely failed.
The last two years of our supposed recovery have seen American growth rates averaging well under 2 percent.[i] Although our media often pays greater attention to the recent gains in stock market and asset prices, such paltry growth means that many of the millions of jobs lost in 2008 and 2009 will never be regained, and the broadest measures of American unemployment and underemployment will remain stuck in the vicinity of 15%.[ii] Meanwhile, an astonishing 93% of the total increase in income during the recovery period has been captured by the top one percent of earners, who now hold almost as much net wealth as the bottom 95 percent of our society.[iii] This polarized situation does not bode well for our future, and unless broader social trends in jobs and incomes soon improve, dark days surely lie ahead.
Read more: http://www.theamericanconservative.com/articles/raising-american-wages-by-raising-american-wages/
The last two years of our supposed recovery have seen American growth rates averaging well under 2 percent.[i] Although our media often pays greater attention to the recent gains in stock market and asset prices, such paltry growth means that many of the millions of jobs lost in 2008 and 2009 will never be regained, and the broadest measures of American unemployment and underemployment will remain stuck in the vicinity of 15%.[ii] Meanwhile, an astonishing 93% of the total increase in income during the recovery period has been captured by the top one percent of earners, who now hold almost as much net wealth as the bottom 95 percent of our society.[iii] This polarized situation does not bode well for our future, and unless broader social trends in jobs and incomes soon improve, dark days surely lie ahead.
Read more: http://www.theamericanconservative.com/articles/raising-american-wages-by-raising-american-wages/
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