During the 1960s, rising real wages for low-income and high-income workers, due in part to rapid economic growth and the spread of unionization, worked in tandem with expanding government support systems to improve Americans' well-being. — Stephanie Coontz Copy Share Image
Productivity gains are vital to long-term growth because they typically translate into higher incomes, in turn boosting demand. That process takes time, of course - especially if, say, the initial recipients of increased income already have a high savings rate. — Michael Spence Copy Share Image
