Shit Is Fucked Up And Bullshit

For reasons that have long mystified me, most economists are only comfortable with the social welfare function W=f(per capita GDP). That is, economic growth is "good" but only dirty hippies concern themselves with the distributional impacts.

We need policies to fix this, and politicians who understand it. And the fix isn't "everybody get a STEM degree!"

For all but the most highly educated and affluent Americans, incomes have stagnated, or worse, for more than a decade. The census report found that median household income, adjusted for inflation, was $51,017 in 2012, down about 9 percent from an inflation-adjusted peak of $56,080 in 1999, mostly as a result of the longest and most damaging recession since the Depression. Most people have had no gains since the economy hit bottom in 2009.