Populist prophets of doom are wrong. The capitalist system is working for Americans

This is a strange time to be debating whether capitalism is broken, at least in the United States.

The economy has added jobs each month since October 2010 for a total of over 20 m net brand-new payroll occupations. The unemployment rate is below 4 %, slightly less than it has taken place since 1969. Wage growth is finally accelerating, clocking in at a rate well above 3% a year for typical workers.

Michael R Strain holds the John G Searle Chair at the American Enterprise Institute

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