I am a PhD Economist, independent economic policy consultant, and Bloomberg columnist. I focus on the intersection of labor markets and public policy, including unemployment and unemployment insurance (UI); recessions and recoveries; women's labor supply; poverty alleviation; retirement security; and Social Security. I recently started my own podcast, Optimist Economy, to talk about why Americans should feel hopeful about the economy.
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September 4, 2025
Why does it feel like it is so hard to afford a decent life? Not decadent, not luxurious, just decent. And why does it seem like it used to be easier to afford that decent life? There is a very straightforward explanation that answers both of these questions. An economist would say, it comes down to the ‘relative growth in prices and wages.’ So what does that mean? At the heart of the matter, the problem is that runaway price growth for the necessities has outpaced wage growth for all earners, but especially middle earners. Now, tariffs, deportation, health care cuts, child care cuts, or tax...
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