The Great Recession had a tremendous impact on low-income Americans, in particular black and Latino Americans. The losses in terms of employment and earnings are matched only by the losses in terms of real wealth. In many ways, however, these losses are merely a continuation of trends that have...

This article by Edward N. Wolff of New York University examines trends in convergence in OECD countries toward U.S. productivity levels during the postwar period and finds strong evidence for this phenomenon up to 1990, with rapid growth in investment, education, and R&D in OECD countries...