It is a fact that more than two thirds of American economy is based on consumer spending.
It is a fact that during the last three decades, the real salaries of the working middle class have been declining or at best stagnant.
Therefore, there is no sustainable path out of the high unemployment rates, other than strengthening the spending power of the working class by means of salary reform.
Higher salaries and increased spending power creates the virtuous cycle that leads to job creation.
The term salary reform is unfortunately out of the mainstream discussion nowadays.
We need to start looking for ways to improve salaries with minimum disruption of the free market.



