Don’t believe the naysayers: Capitalism is healthier than it appears | Michael R Strain

Populist prophets of doom are wrong. The capitalist system is working for Americans

This is a strange time to be debating whether capitalism is broken, at least in the United States.

The economy has added jobs every month since October 2010 for a total of over 20m net new payroll jobs. The unemployment rate is below 4%, lower than it has been since 1969. Wage growth is finally accelerating, clocking in at a rate well above 3% a year for typical workers.

Michael R Strain holds the John G Searle Chair at the American Enterprise Institute