During the Great Prosperity, government enforced the basic bargain—using Keynesian policy to achieve nearly full employment, giving ordinary workers more bargaining power, providing social insurance, and expanding public investment. Consequently, the share of the total income that went to the middle class grew, while the portion going to the top declined. But here's the interesting thing: Because the economy expanded so buoyantly, just about everyone came out ahead—including those at the top.
Robert Reich
