HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » ROBERT REICH: The America...

Fri Mar 7, 2014, 07:41 AM

ROBERT REICH: The American Dream Has Fallen Apart [View all]

http://www.businessinsider.com/robert-reich-great-uturn-2014-3



Do you recall a time in America when the income of a single school teacher or baker or salesman or mechanic was enough to buy a home, have two cars, and raise a family?

I remember. My father (who just celebrated his 100th birthday) earned enough for the rest of us to live comfortably. We werenít rich but never felt poor, and our standard of living rose steadily through the 1950s and 1960s.

That used to be the norm. For three decades after World War II, America created the largest middle class the world had ever seen. During those years the earnings of the typical American worker doubled, just as the size of the American economy doubled. (Over the last thirty years, by contrast, the size of the economy doubled again but the earnings of the typical American went nowhere.)

In that earlier period, more than a third of all workers belonged to a trade union ó giving average workers the bargaining power necessary to get a large and growing share of the large and growing economic pie. (Now, fewer than 7 percent of private-sector workers are unionized.)

Then, CEO pay then averaged about 20 times the pay of their typical worker (now itís over 200 times).



Read more: http://robertreich.org/post/78784064729#ixzz2vHC0qXi4

61 replies, 9838 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 61 replies Author Time Post
Reply ROBERT REICH: The American Dream Has Fallen Apart [View all]
xchrom Mar 2014 OP
Fumesucker Mar 2014 #1
xchrom Mar 2014 #2
newfie11 Mar 2014 #3
ctsnowman Mar 2014 #4
merrily Mar 2014 #7
dotymed Mar 2014 #9
proReality Mar 2014 #18
Moostache Mar 2014 #30
CrispyQ Mar 2014 #40
dotymed Mar 2014 #43
Glitterati Mar 2014 #55
dotymed Mar 2014 #59
Stargazer09 Mar 2014 #34
woo me with science Mar 2014 #36
Laelth Mar 2014 #52
City Lights Mar 2014 #57
cantbeserious Mar 2014 #5
bemildred Mar 2014 #6
merrily Mar 2014 #8
bemildred Mar 2014 #10
merrily Mar 2014 #16
bemildred Mar 2014 #21
merrily Mar 2014 #25
bemildred Mar 2014 #29
merrily Mar 2014 #35
bemildred Mar 2014 #37
merrily Mar 2014 #42
bemildred Mar 2014 #48
fasttense Mar 2014 #12
bemildred Mar 2014 #15
reformist2 Mar 2014 #17
merrily Mar 2014 #26
merrily Mar 2014 #20
dotymed Mar 2014 #44
bemildred Mar 2014 #46
merrily Mar 2014 #11
stevenleser Mar 2014 #13
Romulox Mar 2014 #14
reformist2 Mar 2014 #19
bemildred Mar 2014 #47
n2doc Mar 2014 #22
Javaman Mar 2014 #23
merrily Mar 2014 #28
daleanime Mar 2014 #24
L0oniX Mar 2014 #27
merrily Mar 2014 #31
L0oniX Mar 2014 #32
Evergreen Emerald Mar 2014 #33
merrily Mar 2014 #39
Evergreen Emerald Mar 2014 #49
merrily Mar 2014 #53
Javaman Mar 2014 #41
merrily Mar 2014 #54
Javaman Mar 2014 #56
merrily Mar 2014 #58
merrily Mar 2014 #38
bemildred Mar 2014 #50
gulliver Mar 2014 #45
HughBeaumont Mar 2014 #60
Romulox Mar 2014 #61
Laelth Mar 2014 #51