Economic Impossibilities for Our Grandchildren?
The reason lower- and middle-class people are suffering economically is not immigration or trade, but rather the steady march of technology. As jobs are replaced by machines or off-shored to emerging economies, global GDP is expanding, but the benefits are accruing only to the top earners.
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NEW YORK – Austria’s close-call presidential election on December 4, which almost brought a far-right nationalist to power, was a telling coda to a sad year. The uncertainty and fear that many people feel today is reminiscent of W.H. Auden’s poem “September 1, 1939”: “As the clever hopes expire/Of a low dishonest decade.”