When income growth is concentrated at the top of the income scale, the people at the bottom have a much harder time lifting themselves out of poverty and giving their children a decent start in life.
More Quotes from Jared Bernstein:
Many of our overall indicators are percolating along just fine, but the growth continues to elude many working families, especially those in the middle and low end.Jared Bernstein
Maybe by the second quarter of next year, we'll be looking at some lower unemployment rate -- say in the 5 to 5.5 percent range, if we're lucky. But that would be the best to hope for, and it's based on our working through these excesses that persist.
Jared Bernstein
A fundamental principle of our economic system is that the benefits of economic growth will flow to those responsible for their creation. When how fast your income grows depends on your position in the income scale, this principle is violated. In that sense, today's unprecedented gap between the growth of the typical family's income and productivity is our most pressing economic problem.
Jared Bernstein
This decline in the jobless rate is certainly the largest drop we've seen in recent months, so it does suggest a stronger labor market than we expected.
Jared Bernstein
The government should be actively enforcing the high road.
Jared Bernstein
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But the same thing was true in the army. You slept in a barracks with all kinds of people of every nationality, every trade, every character and quality you can imagine, and that was a good experience.
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