Real median household incomes in the U.S. were basically the same in 1989 as in 2014. But we are also seeing similar challenges in the U.K. in the stagnation of real wages.

My specific concerns with Trump's plans are that they are likely to investments in infrastructure where the private returns are highest (for example toll roads and bridges) rather than where the public gains are greatest.

Growth in productivity has diverged from growth in the share that working people can expect right across advanced economies, but this trend started earlier and has been more pronounced in the U.S.

The actual division of labor must be reflected in the division of the rewards (and prices, which is the way the consumer gets rewarded).

We should be investing where the public returns are greatest - that is in innovation.

There is a lot of flesh to be put on the bones - but there is at least an opening for a more pragmatic, less ideological debate about how to build economies that work for people, within the limits of our planet.

With a Trump administration we don't know enough yet to make predictions, but if past behavior is any indication, I am not encouraged.