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look at economic trends

it is becoming more apparent that we may be entering a time when low wage jobs dominate and home prices remain sluggish for a decade moving forward.

looking at the Federal Reserve’s quantitative easing program, growth of lower paying jobs, baby boomers retiring, and the massive amount of excess housing inventory we start to see why Japan’s post-bubble real estate market is very likely to occur in the United States.

, and by early 1932 it had reached 6 million workers, or 25 percent of the work force. Britain was less severely affected, but its industrial and export sectors remained seriously depressed until World War II. Many other countries had been affected by the slump by 1931.

what can policy do to limit inequality? The answer is, it can operate on two fronts. It can engage in redistribution, taxing high incomes and aiding families with lower incomes. It can also engage in what is sometimes called “predistribution,” strengthening the bargaining power of lower-paid workers and limiting the opportunities for a handful of people to make giant sums.

We can see this in our own history. The middle-class society that baby boomers like me grew up in didn’t happen by accident; it was created by the New Deal, which engineered what economists call the “Great Compression,” a sharp reduction in income gaps.

Obamacare provides aid and subsidies mainly to lower-income working Americans, and it pays for that aid partly with higher taxes at the top. That makes it an important redistributionist policy — the biggest such policy since the 1960s.

If you doubt that we live in a winner-take-all economy and that education is the trump card, consider the vast amounts the affluent spend to teach their offspring.

This power spending on the children of the economic elite is usually — and rightly — cited as further evidence of the dangers of rising income inequality.

But it may be that the less lavishly educated children lower down the income distribution aren’t the only losers. Being groomed for the winner-take-all economy starting in nursery school turns out to exact a toll on the children at the top, too.

According to a yearly national survey of more than 200,000 first-year students conducted by researchers at the University of California at Los Angeles, college freshmen are increasingly "overwhelmed," rating their emotional health at the lowest levels in the 25 years the question has been asked. Such is the latest problem dropped at the offices of higher-education administrators and professors nationwide: Young adults raised with a single-minded focus on gaining admission to college now need help translating that focus into ways to thrive on campus and beyond.

Many young adults weren't taught the basic life skills and coping mechanisms for challenging times.

The consequences for students who lack those skills have become increasingly clear both on campus and after graduation. At Pitt, where I teach, and at other institutions, student-life administrators have noticed a marked decrease in resiliency, particularly among first-year students. That leads to an increase in everything from roommate disagreements to emotional imbalance and crisis. After graduation, employers complain that a lack of coping mechanisms makes for less proficient workers: According to a 2006 report by the Conference Board, a business-research group, three-quarters of surveyed employers said incoming new graduates were deficient in "soft" skills like communication and decision making.