[...]I will describe the dilemma by first reviewing thecontext of stagnant wages and living standards. I will thensummarize some of the trends—political and demographic—that economic angst has accelerated. Finally, I will examine the future path of the education/earningsgap in the short run,...

My assignment for this conference on U.S.wage trends was, as an outsider, to drawthe macroeconomic implications of wideningwage inequality. I shall do so in six points.[...]