The Great Wage Slowdown Finally Takes Center Stage

Facts matter: Sign up for the free Mother Jones Daily newsletter. Support our nonprofit reporting. Subscribe to our print magazine.


I’m feeling better today, but still not really in good blogging condition. So just a quick note: it appears that the great wage slowdown is finally getting lots of mainstream attention. Why? Because apparently the midterm results have persuaded a lot of people that this isn’t just an economic problem, but a political problem as well. In fact, here’s the headline on David Leonhardt’s piece today:

The Great Wage Slowdown, Looming Over Politics

Josh Marshall makes much the same point with this headline:

Forget the Chatter, This is the Democrats’ Real Problem

Both are saying similar things. First, growing income inequality per se isn’t our big problem. Stagnant wages for the middle class are. Obviously these things are tightly related in an economic sense, but in a political sense they aren’t. Voters care far less about rich people buying gold-plated fixtures for their yachts than they do about not getting a raise for the past five years. The latter is the problem they want solved.

Needless to say, I agree, but here are the two key takeaways from Marshall and Leonhardt and pretty much everyone else who tackles this subject: (1) nobody has any real answers, and (2) this hurts Democrats more than Republicans since Democrats are supposed to be the party of the middle class.

I’d say #1 is obviously true, and it’s a huge problem. But #2 is a little shakier. Sure, Republicans are the party of business interests and the rich, but voters blame their problems on whoever’s in power. Right now, Democrats have gotten the lion’s share of the blame for the slow economy, but Republicans rather plainly have no serious ideas about how to grow middle-class wages either. They won’t escape voter wrath on this front forever.

I’m not going to try to say more about this right now. I just wanted to point out that this is finally starting to get some real attention. And that’s good: it’s one of the great economic trends of our time, and therefore one of the great political trends as well. For a short rundown of the other great trends of our time, I recommend this piece. I wrote it a couple of years ago, and I continue to think these are the basic battlegrounds our politics are going to be fought on over the next decade or two.

THE END...

of our fiscal year is Thursday, June 30, and we have a much larger fundraising gap than we can easily manage with only days left to go.

Right now is no time to come up short: If you value the hard-hitting, democracy-protecting, justice-advancing journalism you get from Mother Jones, please help us keep charging as hard as we possibly can with a much-needed and much-appreciated donation today.

payment methods

THE END...

of our fiscal year is Thursday, June 30, and we have a much larger fundraising gap than we can easily manage with only days left to go.

Right now is no time to come up short: If you value the hard-hitting, democracy-protecting, justice-advancing journalism you get from Mother Jones, please help us keep charging as hard as we possibly can with a much-needed and much-appreciated donation today.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate