corrente

The simple truth is that the standard of living of most Americans depends on getting jobs that pay well. This means that unemployment matters not just for those out of work but also for those whose wages are depressed when too many people are competing for too few jobs. For most Americans, the best economic policy is still low unemployment. That's why the late 1990s produced income growth for the poor and the middle class as well as the wealthy.

I am all for a nation of owners and investors. But most people need jobs. For 25 years, we have been hearing that labor depends upon capital. It's time to resurrect the other, buried truth: that capital depends upon labor. Our prosperity really does require keeping the "Labor" in Labor Day.