An insightful interview with economist Richard Wolff. His solution (towards the end) suggesting a collectivist cure is problematic, but the value of his thinking to me is that he explains quite well how productivity has soared in this country without real wages rising. Go ahead and try to argue that a rising tide lifts all boats.
It doesn't and it didn't. Not in your lifetime, or mine. Unless you want to ignore the data. We're talking in the aggregate here. Not about how you and I have fared, but how "Main Street" has. Look at what our children have to look forward to.
It's also hard to argue also that the it was executive "talent" that allowed businesses to prosper for their stockholders (justifying salaries that should not be justified). Hmmmm. Who got all the pay raises?
It is probably too late to change anything here short of a revolution against crony capitalism, but taking into account Mr. Steyn's prediction in my recent posting, all will be lost anyway.
I recommend that time be taken to read the entire interview, but I'm sharing what I think is the most helpful to understanding how our decline began: