The Slump

Between 1947 and 1974, American workers brought home most of the wealth they produced. Some businesses upheld the goal of making sure their employees made a enough money to afford the products they were making. Then suddenly, those values vanished faster than a Snapchat selfie. In American Prospect, Harold Meyerson describes the forty-year slump that followed that era: “The middle has fallen out of the American economy — precipitously since 2008, but it’s been falling out slowly and cumulatively for the past 40 years. Far from a statistical oddity, 1974 marked an epochal turn. The age of economic security ended. The age of anxiety began.”

+ It’s bad time to be a worker, but it’s a good time to be an investor. The Dow briefly broke 16000 for the first time.

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