From the Economist’s latest Lexington column:
Many voters remember a time when hard work was reliably rewarded with economic security. This was not really true in the 1950s and 60s if you were black or female, but the question still remains: what if Mr Cowen is right? What if the bottom 85% today are mostly doomed to stay there? In a country founded on hope, that would require something like a new social contract. Politicians cannot duck Mr Cowen’s conundrum for ever.
Depressing.