The US stock market is approaching a record high--having finally regained all it lost in the 2008 bear market. It would be cause for celebration, if it didn't feel so out of touch with the "main street" reality of elevated unemployment. As a recent New York Times headline read, "recovery in the US is lifting profits, but not adding jobs." The NYT goes on to blame the divide between rising corporate profits, recovering stocks, and stubborn unemployment on technology--or more specifically automati...
The US stock market is approaching a record high--having finally regained all it lost in the 2008 bear market. It would be cause for celebration, if it didn't feel so out of touch with the "main street" reality of elevated unemployment. As a recent New York Times headline read, "recovery in the US is lifting profits, but not adding jobs." The NYT goes on to blame the divide between rising corporate profits, recovering stocks, and stubborn unemployment on technology--or more specifically automati...
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