Yes, I think that's generally right. I wouldn't want to go so far as to say that inequality is the single biggest driver of falling productivity growth, or something like that, but I certainly think that, yes, if workers are being paid very little, they have less incentive to work harder. We've seen, after decades of trickle-down economics at this point, that it has not increased productivity greatly. I do think that we should make addressing inequality a more explicit goal of our policies.
On June 18th, 2024. See this statement in context.