How did we go from the Great Depression to 30 years of Great Prosperity? And from there, to 30 years of stagnant incomes and widening inequality, culminating in the Great Recession? And from the Great Recession into such an anemic recovery? The Great Prosperity During three decades from 1947 to 1977, the nation implemented what might be called a basic bargain with American workers. Employers paid them enough to buy what they produced. Mass production and mass consumption proved perfect complements. Almost everyone who wanted a job could find one with good wages, or at least wages that were trending upward. During these three decades everyone's wages grew -- not just those at or near the top. READ MORE AT: http://www.huffingtonpost.com/robert-reich/the-truth-about-the-ameri_b_869033.html
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