Real family income has begun to rise again. Inflation seems to be held at bay. These certainly are very good times. But the big picture can mask the growing gap between rich and poor. Economic growth can sometimes distribute economic benefits inequitably.
Some new jobs offer meager wages and few benefits.
A first economy finds many people prospering in this new information age and global marketplace. They not only cope but thrive in the new economy, experiencing remarkable economic rewards for themselves, their families and their companies. They are moving ahead. A second economy includes people who are doing well by some measure, but are squeezed by declining incomes, struggle to afford health care, and worry about the cost of a college education or Catholic schools for their children. A third economy touches a substantial number of people who are left behind and cannot escape poverty.