Inequality: A Rising Tide Lifts All Yacts

The stock market is setting records. Corporate profits are at an all-time high not in small part because wages are at an all-time low with high (under)unemployment keeping downward pressure on incomes. The past few years have been a boom for Wall Street and a bust for Main Street. Predictably, inequality has skyrocketed to levels not seen since 1929, just prior to the Great Depression. But that's only part of the story. The wheels of growing inequality were set in motion decades ago: stagnant...

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