The 41st post on the Journal of American Greatness originally published in March, 2016.
Consider these two items in parallel.
In a recent note, a Danish economist wrote that “the ratio between employee compensation to gross domestic product in the U.S. is the lowest in history and corporate profits are at their highest-ever point.”
Today, Fed Chair Janet Yellen said that the U.S. economy was “near full employment” and has been for years. Lest you think that was a slip, or a Greenspanian malapropism misinterpreted, she said the same thing back in December.