I know columnists don't tend to indicate the source of their 'facts" but David Brooks continues to just make stuff up. Today's column is no exception. He seems to think that we should be grateful to companies like Bain for "the renaissance that revived American Capitalism." He compares today's economy to "forty years ago", when "corporate America was bloated, sluggish and losing ground to [foreign] competitors."
Except forty years ago the CEO earned 24 times as much as the production worker. Today he is paid 185 times as much.
In fact, there has been no renaissance in the U.S. economy over the last forty years. As Wikipedia notes:
The economy since 1973, however, has been characterized by both slower growth (averaging 2.7%), and nearly stagnant living standards, with household incomes increasing by 10%, or only 0.3% annually.
And David Brooks knows this. On April 5 he was writing about the upcoming "fiscal calamity." In his column of May 7 he wrote that the "recession grew out of and exposed long-term flaws in the economy."