The long road down

An oldie well worth revisiting:

"Dubbed 'median wage stagnation' by economists, the annual incomes of the bottom 90 per cent of US families have been essentially flat since 1973 – having risen by only 10 per cent in real terms over the past 37 years.... Worse is that the long era of stagnating incomes has been accompanied by something profoundly un-American: declining income mobility."

The Crisis of Middle-Class America - Financial Times