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Jacob Hacker on WSHU’s “State of Disparity” Series
Craig LeMoult in a two-part Q&A on WSHU, talks with ISPS Director, Jacob Hacker, on the causes of the great income disparity and decline of the middle class in both the nation and the state of Connecticut. The radio show is part of an ongoing series, “State of Disparity,” a project by WSHU that looks at the economic disparity specifically in the state of Connecticut.
Some of the reasons for the disparity in Connecticut, Hacker says, is a story similar to many states, “a decline of the traditional manufacturing, the movement of production to the South and overseas. That has been what has hollowed out the American middle class.” Another problem, he mentions, is that Connecticut is dependent on the financial service industry. “Whether the stock market is up or down determines whether our state economy is up or down. We need to diversify our economy and bring back the middle class.”