(Bloomberg Opinion) — If the U.S. is going to make a big dent in income inequality and raise living standards for the middle class, it’s going to need a multipronged approach. Higher taxes and more spending on health care will help. Minimum-wage laws can raise pay for workers at the bottom without reducing employment much, but they only benefit a relatively small slice of the workforce. But something else is needed.
One big idea is to bring back unions and collective bargaining.