Keen On

What’s wrong with the U.S. economy? Not much according to Wall Street. But according to Adam Chandler, author of 99% Perspiration: A New Working History of the American Way of Life, there’s a fundamental contradiction at the heart of American capitalism. While the U.S. leads in AI investment ($50 billion of $56 billion globally in 2020) and Wall Street performance, Chandler notes, there's significant labor unrest at companies like Starbucks and Amazon. He argues that while the American economy appears strong, many workers aren't seeing the benefits. He notes that real wages have declined over 40 years for people of color and those without college degrees, despite recent technological advances. He critiques the American ethos that equates hard work with success, arguing that this overlooks structural barriers and the role of public investment in success stories. Chandler advocates for better worker protections, clearer work-life boundaries, and stronger social safety nets, citing successful pandemic-era progra