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Consolidation of the Economy Is Destroying the Middle Class



Recent history is punctuated with a lot of not-so-great economic “greats” from the Great Depression to the Great Recession. Now we have a new one: When historians look back on the decisions made beginning in March 2020 and still going strong, this period will be remembered as the “Great Consolidation”—the acceleration of a historic wealth transfer and power concentration out of the hands of the middle class and into those with political power and connections.

 

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