Income Inequality: The Shrinking of the American Dream

The video discusses the decline in inflation-adjusted median household income over the past decades, highlighting the impact of the Great Recession and the need for productivity growth. It explores historical and institutional changes, such as the decline in labor unions and minimum wage value, which have shifted income away from labor. Solutions proposed include business tax reform, trade expansion, and investments in research and infrastructure to boost economic growth and reduce inequality.

In what ways have institutional changes affected labor unions and the minimum wage?

What role does investing in research and infrastructure play in addressing economic challenges?