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How Wells Fargo's CEO Could Have Avoided His Senate Belly Flop


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The Census Bureau reported that median household income jumped 5.2% in 2015, and 3.5 million people rose out of poverty. The Washington Post called it “a spike that broke a years-long streak of disappointment for American workers.”

Bloomberg columnist Barry Ritholtz said that the numbers showed that the recovery from the Great Recession is finally taking hold. “Unlike in recent years, when much of the gains went to an increasingly narrow group at the top of the economic strata, last year’s improvements were broad and deep.”

The New York Times noted the “eye-popping improvement in economic fortunes” but put it in context: “real incomes of most American households still are smaller than in the late 1990s. And large swaths of the country—rural America, industrial centers in the Rust Belt and Appalachia—are lagging behind.” A few days later, though, the Times said that a reported finding that incomes had actually fallen in rural areas was wrong, a result of a definitional change; incomes rose 3.4% in rural areas in 2015.

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Contributors



Todd Moss
Senior Fellow, Center for Global Development; Director, The Emerging Africa Project

Euny Hong
Author, The Birth of Korean Cool: How One Nation is Conquering the World Through Pop Culture

Seth Goldman
Executive Chairman, Beyond Meat; Co-founder and TeaEO Emeritus, Honest Tea

Moises Naim
Editor, Foreign Policy

Jan U. Hagen
Associate Professor and Head of the Practice Group Financial Services, ESMT


Professor Robert Shiller
Robert J. Shiller
Sterling Professor of Economics, Yale University

Nina Pavcnik
Associate Professor of Economics, Dartmouth College

Daylian Cain
Associate Professor of Management and Marketing