What Happened to Capitalism's Moral Center? Productivity and Pay Diverge
What Happened to the Moral Center of American Capitalism? An economy depends fundamentally on public morality, some shared standards about what sorts of activities are impermissible because they so fundamentally violate trust that they threaten to undermine the social fabric. [was there ever really such a moral center?]
Understanding Divergence Of Productivity & Pay. This paper updates and explains the implications of the central component of the wage stagnation story: the growing gap between overall productivity growth and the pay of the vast majority of workers since the 1970s.
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