The tragic upshot has been the steep erosion of wages for the powerless bottom half, as income, wealth and property is sucked up to the top.
I\’m afraid that this just has not happened.
Wages and incomes simply have not fallen.
It is true that of the growth in general more has gone to the upper part of the income distribution. But that is not the same as saying that the poor now have less. It is saying that the poor don\’t have more. Really, quite different.