John Hagney: Sinking wages are threatening democratic capitalism

John Hagney: Sinking wages are threatening democratic capitalism

By John Hagney

It would be a hardship for half of all Americans to afford a $400 emergency expense. – 2019 Federal Reserve Study

During two decades following World War II, moderation in American politics was predicated on a muscular middle class. The 1970-2020 dissipation of this “vital center” is reflected in continuing economic insecurity that oppresses most Americans, especially among those without college educations representing two-thirds of workers, and the present polarized political landscape.Beginning with the 1970s oil crises, the industrial heartland rusted, caused initially by increased demand for fuel-efficient Japanese automobiles. Prior to this, about 16% of American […]

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.