Prosperity for the few, stagnation for the many
Right-wingers are trumpeting the claimed prosperity of the US economy since Trump’s election, and of the British economy after Brexit. A closer look shows the prosperity as very partial. Stock market prices in the USA have risen strongly since November 2016, though no more than their general rising trend since they hit bottom in March 2009. The slice of corporate profits in total US income is as high as it was at its pre-2008 peak, which in turn was the highest since 1965. Unemployment in the USA continues to fall towards 4% from its 10% peak in 2009.Its workforce participation has also been...