2017-08-01bloomberg.com

For some time now there has been a general sense that household incomes are stagnating for a large share of the population, job opportunities are deteriorating, prospects for upward mobility are waning, and economic gains are increasingly accruing to those that are already wealthy. This sense is generally borne out by economic data and when comparing the U.S. with other advanced economies.

... Income polarization is suppressing consumption, weighing on labor supply and reducing the ability of households to adapt to shocks. High levels of poverty are creating disparities in the education system, hampering human capital formation and eating into future productivity.

... other wealthy countries also seem to have figured out better, more cost-effective ways of raising revenue, providing education, helping the jobless, fighting poverty, and keeping citizens healthy than the U.S. has. This country has some catching up to do.



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