Reply #2: Yeah I'd like to know that too [View All]

[Wetzelbill]

Krugman says in his latest book that a couple economic historians named that middle-class growth "The Great Compression." He suggests that politics has more to do with it than was previously thought, because the GOP basically made peace with the New Deal after WW2 and the consensus on political issues like economics was broader. Then Movement Conservatism came along and destroyed all of that. The rise of serious inequality coincides with the rise of Movement Conservatism and the sharp veer to the Right of the Republican Party and even elements of the Democractic Party. Maybe a little later on in the book he might explain the growth of the middle-class beyond that, because he seems to think we could build it up again and pretty fast. I just haven't gotten that far yet.