The Social Recession Is Accelerating

Did wages rise 10-fold to match the 10-fold rise in the cost of a modest house? No. That is social recession in a nutshell.

A reader asked about the term social recession which he'd noted in my book Get a Job, Build a Real Career and Defy a Bewildering Economy. Here is the paragraph:

"Stagnation in opportunities to work and earn (i.e. a financial recession) leads to social recession, a loss of opportunities for adulthood: a rewarding career, family, and a home of one's own. I…