An interesting take on the general toxicity of politics in today's Wall Street journal. The writer puts the blame on the debilitating effects of a lack of economic growth.
The author (who is a conservative) blames the "sour civic mood" that is getting behind Trump and Sanders on "heightened anxiety about income inequality"--something you used to only hear the left complain about.
All told, the average annual growth rate over the last 14 years has been less than half of its previous postwar average—an anemic 1.7%. Even the stagflation of the 1970s wasn’t nearly so bad, and it was bookended by strong growth in the 1960s and 1980s.
This difference between 3.7% and 1.7% may not sound like much, but it implies trillions of dollars in unrealized growth. The middle class has felt its absence keenly. Average real wages and salaries for private-sector workers have barely improved over the last decade. And the Census Bureau recently noted that the median American male worker has seen no real wage growth in 40 years.
The slowdown has hit the working class especially hard. The employment level for those without college degrees has fallen much faster than for those with colleges degrees, and job losses have been particularly acute in manufacturing and construction.
All this suggests an economic bifurcation reminiscent of “A Tale of Two Cities”: Those on the higher end of the socioeconomic scale are doing all right, but those on the lower end cannot get the sorts of jobs that let prior generations rise into the middle class.
WALL STREET JOURNAL: The Politics of Distrust