Looking forward, if things remain as they are it’s difficult to see anything but struggles for the working class. We have rising inequality, stagnant or even falling incomes for most households, and declining “good job” opportunities due to offshoring and technological advances, particularly for those with just a high school education. The result is a “dangerous” decline of the middle class. I am often asked how to restore jobs that provide hope and opportunity, and like most economists, I mutter something about better education and hope for the best. But the truth is that economists do not have good answers to this problem.
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