Reports of the slow death of American incomes have been exaggerated. Since the turn of the millennium, hourly earnings have grown steadily in real terms. While those at the top have taken most of the gains, in the past few years, the poorest have done well too. Where does that leave those in the middle? What’s behind the two decades of growing incomes? And why hasn’t a richer population brought a more contented politics?
The Economist’s Simon Rabinovitch explains the latest data on incomes–and why it can be tricky to calculate. We go back to another time where economic perceptions and reality were far apart. And Betsey Stevenson, of the University of Michigan, discusses what all this means for income inequality.
John Prideaux hosts with Charlotte Howard and Idrees Kahloon.
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