America’a middle class has stagnated because the upward talent flow got clogged
Jim Tankersley – America lost its exceptional economy because too many Americans stopped doing the most exceptional things they could. Too many middle-class workers were forced into low-skill, low-paying jobs. Too many people born poor were knocked off course on their way to gaining more valuable skills. Too many American elites flocked to Wall Street and K Street, where they got rich at the expense of the overall economy. Not enough entrepreneurs took risks and built new businesses.
These trends run in stark contrast to how Americans built decades of shared prosperity in the postwar era: by investing in themselves and clearing paths for others to get ahead, too.