Although globalization and technological change have disrupted traditional work arrangements, both processes have the potential to benefit everyone. The fact that they have not suggests that the wealthy have captured the benefits for themselves.

Broadly shared progress can be achieved with policies that are designed specifically to benefit consumers and workers. And such policies need not even include redistributive taxation, which many workers oppose. Rather, they can focus on ways to encourage competition and discourage rent-seeking.

Despite broad public support, raising the minimum wage is always difficult owing to the disproportionate influence that wealthy firms and donors have in Congress.

Angus Deaton Quotes