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This is the weak link in our otherwise strong economy: wages. They are not growing as fast as expected given the low unemployment rate and the recent rise in GDP.
One problem may be that companies have become too big and have too much power. As Amazon dominates the online market, Walmart rules the brick and mortar market.
Without vigorous competition, companies like these have less need to fight for customers or workers.
Increasingly, economic leaders are considering policies to regulate these too important businesses to maintain the competitiveness of American capitalism.
Last week, Sen. Bernie Sanders of Vermont and Ro Khanna deputy from California's 17th district introduced a bill entitled "Stop Bad Employers by Zeroing Out Subsidies" or "Stop BEZOS Act" for the founder of Amazon , Jeff Bezos.
Amazon responded in a statement, stating, in part, that "Senator Sanders continues to spread misleading statements about pay and benefits. Senator Sanders claims that Amazon's median US salary is full-time Amazon employees are $ 34,123. "
As part of his nationwide search for a new city for a second seat, Amazon has included Boston as one of the top 20 finalists.
Guests
Jason Furman, Professor of Economics at Harvard University. He was chief economic advisor to the Obama White House. He tweets @jasonfurman.
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