Wealth Gap ‘Unsustainable’-New Harvard Study
Where’s the boom? After the Carter/Reagan era recession we had a middle class boom. After the Bush/Clinton era recession we had a massive middle class boom. Without that middle class expansion the recovery is a distortion, not a solution. Still not much in sight.
BOSTON, Sept 8 (Reuters) - The widening gap between America’s wealthiest and its middle and lower classes is “unsustainable”, but is unlikely to improve any time soon, according to a Harvard Business School study released on Monday.
The study, titled “An Economy Doing Half its Job”, said American companies - particularly big ones - were showing some signs of recovering their competitive edge on the world stage since the financial crisis, but that workers would likely keep struggling to demand better pay and benefits.
“We argue that such a divergence is unsustainable,” according to the report, which was based on a survey of 1,947 of Harvard Business School alumni around the globe, and which highlighted problems with the U.S. education system, transport infrastructure, and the effectiveness of the political system.