America’s anxious middle
Since 1998, America’s economy has expanded by more than 25 per cent but median wages have stagnated. America’s middle-class is growing restive at this uneven distribution of prosperity - leading to rising protectionist pressures, opposition to immigration and political populism.
At a time when the incomes of average Americans have only recently started to grow again in inflation-adjusted terms after half a decade of stagnation, the CEO windfall is striking.
When, as now, concerns become sufficiently serious, those with bad ideas always win out over those with no ideas, writes Lawrence Summers
If Americans are feeling ever more insecure about inequality, jobs and globalisation, they are not alone. The concerns of the "anxious middle" income earners are choed across the Atlantic.
Judging by the mood of leading Democratic contenders in next Tuesday's heated midterm congressional elections, Mr Clinton would find it much harder now to sustain his party's support for an America that is open to the world.
Jack Drake understands better than most Americans how strongly the US economy has performed over recent years. His job with a media company in Atlanta involves transcribing conference calls hosted by public companies to deliver financial information to analysts and investors.
Larry Summers, the last Treasury secretary of the Clinton administration, will today join Robert Rubin, his immediate predecessor, in a high-profile drive to highlight stagnation in wage growth for the majority of workers in the US economy.
Globalisation generates colossal sums, most of which, argues Richard Tomkins, benefit only the very rich and the very poor. So isn’t it time the west’s middle classes asked why they’re footing the bill for everyone else’s gains?
America is immersed in a deep and troubling paradox. By most conventional measures, Americans have never had it so good. The economy is entering its fifth year of high growth and is close to achieving full employment