Cleaning the archives

Mariner still is culling through old documents, deleting many and moving others, long lost, to the appropriate folder. The following is an old item written by Derek Thompson of The Atlantic. Mariner wonders whether the article, one of many along the same vein, describes the beginning of what would become Trump’s base:


How Globalization Saved the World and Damned the West

By Derek Thompson, staff writer at The Atlantic[1]

In 2016, James Manyika, the director of the McKinsey Global Institute (MGI) co-wrote a landmark report on earnings growth in advanced economies over the previous 20 years. It was a tale of two decades, he said. In the first 10-year period, from 1995 to 2004, wages grew for at least 98 percent of households in just about every advanced economy. But in the second decade, from 2005 to 2014, everything fell apart.

“We found inequality, yes. But that was the least interesting thing we found,” Manyika told me. “The more interesting thing was wage stagnation in almost all the advanced economies.”

“This was an entirely new phenomenon. Wage income declined for the majority of households in France, the Netherlands, the U.K., and Italy. The U.S. had it even worse. Four out of five households saw flat or falling income before accounting for taxes and transfers. Between globalization, the Great Recession, and the not-so-great recovery, the middle class was slammed. And these people tended to blame free trade and immigrants for hurting their wages and ruining their culture,” Manyika said.”


[1] For full article click on

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