raising the minimum wage, expanding early childhood education, capping executive pay, strengthening unions, and increasing paid parental leave.

The distinguished Columbia University economist Jagdish Bhagwati argues that computerization is the main cause behind the two-decades-long stagnation of middle-class wages.

If one sentence were to sum up the mechanism driving the Great Stagnation, it is this: Recent and current innovation is more geared to private goods than to public goods. That simple observation ties together the three major macroeconomic events of our time: growing income inequality, stagnant median income, and, as we will see in chapter five, the