YOYO ECONOMICS….Jared Bernstein writes about the fact that the U.S. economy has been growing at a pretty good clip lately but middle class incomes haven’t benefited:
This disconnect between productivity and living standards is one of today?s most important, and most unsettling, economic dynamics. It?s obviously not the only salient problem we face ? the extent of our fiscal and international indebtedness is also worthy of our attention. But I see these all of a package.
It?s a package tied up with a YOYO. That?s the acronym for ?you?re on your own,? which over the past few decades has become a disturbing and destructive thematic embedded in our economic policy.
Read the rest.