{"id":60976,"date":"2014-01-18T09:00:27","date_gmt":"2014-01-18T14:00:27","guid":{"rendered":"http:\/\/thesocietypages.org\/socimages\/?p=60976"},"modified":"2014-02-09T00:14:53","modified_gmt":"2014-02-09T05:14:53","slug":"whose-economic-recovery-is-it","status":"publish","type":"post","link":"https:\/\/thesocietypages.org\/socimages\/2014\/01\/18\/whose-economic-recovery-is-it\/","title":{"rendered":"Whose Economic Recovery Is It?"},"content":{"rendered":"<p>Officially our most recent recession began December 2007 and ended June 2009.\u00a0 The following\u00a0<a href=\"http:\/\/www.nytimes.com\/2013\/12\/30\/opinion\/america-in-2013-as-told-in-charts.html?hp&amp;rref=opinion&amp;_r=0\">chart<\/a>\u00a0provides an important perspective on the recovery period.<\/p>\n<p><a href=\"https:\/\/thesocietypages.org\/socimages\/files\/2014\/01\/14.png\" data-rel=\"lightbox-image-0\" data-rl_title=\"\" data-rl_caption=\"\" title=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-60977\" alt=\"1\" src=\"https:\/\/thesocietypages.org\/socimages\/files\/2014\/01\/14-500x379.png\" width=\"500\" height=\"379\" srcset=\"https:\/\/thesocietypages.org\/socimages\/files\/2014\/01\/14-500x379.png 500w, https:\/\/thesocietypages.org\/socimages\/files\/2014\/01\/14-230x175.png 230w, https:\/\/thesocietypages.org\/socimages\/files\/2014\/01\/14.png 600w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>Stocks and profits have enjoyed a remarkable recovery.\u00a0 While income is slightly up over the period, it is critical to remember that this is average income and the increase largely reflects gains for those at the very top of the income distribution.\u00a0 Jobs and housing have yet to recover.<\/p>\n<p>So, with returns to capital booming, it is easy to understand why business leaders are relatively content with current policies and, by extension, political leaders are reluctant to rock the boat.<\/p>\n<p>Unfortunately, current policies are unlikely to do much to improve the\u00a0<a href=\"http:\/\/blogs.lclark.edu\/hart-landsberg\/2013\/12\/01\/the-need-for-a-jobs-program\/\">job prospects<\/a>\u00a0or\u00a0<a href=\"http:\/\/blogs.lclark.edu\/hart-landsberg\/2013\/11\/16\/worries-about-inequality\/\">income<\/a>\u00a0of most workers.\u00a0 In fact, the rise in business profits owes much to our depressed labor conditions.\u00a0 Unless something dramatic happens, we can expect the next few years to look very much like the past few years.<\/p>\n<p><em>Cross-posted at <a href=\"http:\/\/blogs.lclark.edu\/hart-landsberg\/2014\/01\/15\/dismal-trends\/\" target=\"_blank\">Reports from the Economic Front<\/a>\u00a0and <a href=\"http:\/\/www.psmag.com\/navigation\/business-economics\/dismal-trends-whose-economic-recovery-73805\/\" target=\"_blank\">Pacific Standard<\/a>.<\/em><\/p>\n<span class=\"ft_signature\">Martin Hart-Landsberg is a professor of economics at <a href=\"http:\/\/college.lclark.edu\/faculty\/members\/martin_hart-landsberg\/\">Lewis and Clark College<\/a>.  You can follow him at <a href=\"https:\/\/economicfront.wordpress.com\/\">Reports from the Economic Front<\/a>.<\/span>","protected":false},"excerpt":{"rendered":"<p>Officially our most recent recession began December 2007 and ended June 2009.\u00a0 The following\u00a0chart\u00a0provides an important perspective on the recovery period. Stocks and profits have enjoyed a remarkable recovery.\u00a0 While income is slightly up over the period, it is critical to remember that this is average income and the increase largely reflects gains for those [&hellip;]<\/p>\n","protected":false},"author":1853,"featured_media":60978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[29,36,23634,12498,8080,76],"class_list":["post-60976","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-class","tag-economics","tag-economics-finance","tag-economics-great-recession","tag-housingresidential-segregation","tag-work"],"jetpack_featured_media_url":"https:\/\/thesocietypages.org\/socimages\/files\/2014\/01\/15.jpg","_links":{"self":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/60976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/users\/1853"}],"replies":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/comments?post=60976"}],"version-history":[{"count":2,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/60976\/revisions"}],"predecessor-version":[{"id":61401,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/60976\/revisions\/61401"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/media\/60978"}],"wp:attachment":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/media?parent=60976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/categories?post=60976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/tags?post=60976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}