August 17th, 2017

How to break the 40-year working class losing streak

Economics & Politics

The Chicago Cubs broke a 108-year drought by winning the World Series last year. American workers are in a 40-year drought, but with the right game plan, they too can start to win.

Consider first the sorry facts. The median inflation-adjusted earnings of full-time male workers peaked in 1973. By contrast, the earnings of capital owners and highly paid managers have soared. The distribution of national income has shifted decisively away from labor and towards capital, especially when the measure of capital income includes the returns to human capital (that is, higher levels of education) as well as business capital.

 

Read more in The Boston Globe.

 

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