Monday, April 11, 2011

The Real Story of Our Economy: Why Our Standard of Living Has Stalled Out

Do public sector workers earn more than private sector workers? Who cares? This boneheaded question has us fighting over the crumbs. (And the answer is no -- all credible studies show that when you account for educational levels, the total compensation packages are about the same.)   

The real question is: Why have most workers seen their standard of living stall over the last generation?    The answer is both obvious and appalling. More and more of our nation’s wealth is going to the few, while the many have seen their real wages actually decline. It’s a disgrace.