Why is Washington so screwed up? Some people blame the Tea Party, others blame the lobbyists; my culprit is the economy. Countries with healthy economic systems tend to have polities that function pretty well. (The United States of the postwar era is a good example.) Countries with dysfunctional economies tend to have dysfunctional political systems, in which radical groups look for someone to blame and rival interest groups fight over the spoils. And that, sadly, is where we are now. Those were the headlines. But the really interesting stuff was in the body of report, which contains data on incomes going back half a century. What these numbers show, or rather confirm, is that in economic terms much of middle America has experienced four lost decades. Since its founding, the United States has been a country based on enterprise, hard work, and material progress. But for forty years now, the engine that generates across-the-board rises in living standards has been stalled, with incomes stagnating at the bottom and in the middle while growing rapidly at the top. ---John Cassidy, The New Yorker
Posted on: Wed, 30 Oct 2013 18:40:06 +0000
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