Wage Equality in the Wake of the Great Recession

It is the 21st century version of Plato’s maxim that owners should make no more than five times the wage of their lowest paid employee. We are quickly coming to the end of concepts like wages and hourly pay. The problem is that things have changed so much it’s hard to understand how things now work, not to mention how to create workable alternatives.

In my view, the Great Recession was more than just the housing bubble bursting — it signaled the last gasp of the industrial economy. Home building was the last labor-intensive assembly line to go out…