Having a hard time finding a decent-paying job? Thank Wall - TopicsExpress

Having a hard time finding a decent-paying job? Thank Wall Street. In a New York Times column on Tuesday, Bruce Bartlett, former economic advisor to Presidents Reagan and George H.W. Bush, explores the dark side of "financialization," which is economist-speak for how the financial sector just keeps swelling to take up an ever-greater share of our economy and wealth. Finance has gone from a boon to something that smothers other economic activity and the job market, Bartlett points out, citing several new studies. The financial sector is churning up a lot of wealth, all right, but the bulk of it is going to those people at the very top of the income stack, many of whom are in the financial sector. The share of U.S. income going to the average worker, meanwhile, has been shrinking steadily for the past 30 years, as you can see in the chart below. (Story continues after chart of sadness.)

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