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You Can’t Fix Income Inequality Without Fixing Unemployment
President Obama’s speech today on income inequality was long and eloquent, but if I could boil it down to a one-sentence summary, it would be this: Large-scale efforts to protect the economy’s neediest have a triumphant history in America. Jump back a 100 years. Our problems are different—and much worse. Working conditions in turn-of-the-century industrial revolution are animalistic. So, Teddy Roosevelt and his successors fought for an eight-hour workday, introduced protections for workers, busted the trusts, and passed laws to end dangerous child labor...Read More
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