An economy that works for the middle class won’t happen on its own

Posted December 6, 2012 at 11:49 am by Rebecca Thiess

A vital goal of economic policy should be to raise the living standards of the millions of American households who have seen their wages and living standards stagnate or decline over the last few decades. Fundamental to this is an economy that produces good, well-paying jobs. The biggest obstacle to this, currently, is the jobs crisis driven by a shortfall in aggregate demand. Additional factors though, written into our current policies, mean that even when the economy does recover, there is no reason to believe that the jobs it produces will actually be well-paying jobs.