American capitalism feels divided. Stagnant wages and high costs have squeezed workers, while companies and investors have scored record profits and returns. It has become increasingly clear that the market benefits some more than others.
So how to repair it? The business leaders who recognise there are faultlines in the US economy need to start with a few basic steps. The first is to measure more precisely in their own companies what can be improved, and fix it.
Arguably, most important is to gauge the financial health of their workers. Chief executives should conduct a financial stress test of employees to determine how they are doing and then establish where changes can be made. Just Capital Foundation’s polling shows that Americans hold fair pay and living wages as two of the top three issues they want businesses to prioritise.