Josh Marshall declares it’s “that Democrats don’t know (and nobody else does either) how to get wage growth and productivity growth or economic growth lines back into sync”:
Democrats have toyed (and I use that term advisedly) with the issue of rising inequality for the last two elections. But let me suggest that as a political matter inequality is a loser. What is driving the politics of the country to a mammoth degree is that the vast majority of people in the country no longer have a rising standard of living. And Democrats don’t have a policy prescription to make that change.
Here is a chart we’ve probably all seen some version of. The gist is that while productivity growth has been relatively consistent through the post-war period, productivity became unchained from wages in the early 1970s. Despite a modest bump up in the 90s and another small one in the…
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