Here's The Problem With Our Economy

Several factors have come together to produce a frustratingly weak economy that has persisted in the U.S. for more than a decade:

• "Globalization" has opened up a vast pool of billions of workers who work for much less than Americans. This, in turn, has resulted in companies shifting formerly middle-wage-paying jobs overseas.
• Technology has continued to increase productivity, allowing companies to do more with fewer employees.
• Average hourly earnings have been flat for ~50 years (after adjusting for inflation), as companies steer their wealth primarily to senior management and owners at the expense of average employees.
• Tax policies have increasingly favored investors and high wage earners over middle-class and upper-middle-class wage-earners.
• An obsession with "shareholder value" at the expense of other stakeholders (namely, customers and employees) has led companies to cut employee costs to the bone.

More