Rewriting the rules of the American economy: an agenda for growth and shared prosperity

Description

It's time to rewrite the rules—to curb the runaway flow of wealth to the top one percent, to restore security and opportunity for the middle class, and to foster stronger growth rooted in broadly shared prosperity. Inequality is a choice. The United States bills itself as the land of opportunity, a place where anyone can achieve success and a better life through hard work and determination. But the facts tell a different story—the U.S. today lags behind most other developed nations in measures of inequality and economic mobility. For decades, wages have stagnated for the majority of workers while economic gains have disproportionately gone to the top one percent. Education, housing, and health care—essential ingredients for individual success—are growing ever more expensive. Deeply rooted structural discrimination continues to hold down women and people of color, and more than one-fifth of all American children now live in poverty. These trends are... Content: Preface -- Introduction -- The current rules -- More market power, less competition -- The growth of the financial sector -- The "shareholder revolution", the rise of ceo pay, and the squeezing of workers -- Lower taxes for the wealthy -- The end of full-employment monetary policy -- The stifling of worker voice -- The sinking floor of labor standards -- Racial discrimination -- Gender discrimination -- Rewriting the rules -- Make markets competitive -- Fix the financial sector -- Incentivize long-term business growth -- Rebalance the tax and transfer system -- Make full employment the goal -- Empower workers -- Expand access to labor markets and opportunities for advancement -- Expand economic security and opportunity -- Appendix: overview of recent -- Inequality trends -- Acknowledgments -- Endnotes.