The Perils of a Dual Economy

In the wake of the economic recovery in 1983-84, a kind of euphoria spread through some, but by no means all, of the upper reaches of American society. John Naisbitt, author of the widely read book Megatrends, wrote at the
end of 1984 that “job creation is one of America’s great untold stories.” Indeed, he predicted that the United States was close to a time of labor shortages.