The average net worth of the lower half of the distribution, representing 62 million households, was $11,000 in 2013. About one-fourth of these families reported zero wealth or negative net worth, and a significant fraction of those said they were "underwater" on their home mortgages, owing more than the value of the home. This $11,000 average is 50 percent lower than the average wealth of the lower half of families in 1989, adjusted for inflation.

Individuals out of work for an extended period can become less employable as they lose the specific skills acquired in their previous jobs and also lose the habits needed to hold down any job.

Are deviations from full employment a social problem? Obviously.

It slightly worries me that when people find a problem, they rush to judgment of what to do.

In the long run, outsourcing is another form of trade that benefits the U.S. economy by giving us cheaper ways to do things.

I am anxious to fix welfare. There has to be more training and child care.

I think it is appropriate to ask whether this trend is compatible with values rooted in our nation's history, among them the high value Americans have traditionally placed on equality of opportunity.