Ostensibly, for the past ten years, our economy has been recovering from the 2008 collapse. During the past few years, our comeback seems to have gained momentum. All the official indicators say we’re back in boom times, with a bull market, low unemployment and steady job growth.

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When I pull up to a gas station in my neighborhood in Florida and note the price for premium, it often irks me when I realize that I’d seen a lower price while driving past a station in another town a little further south. It doesn’t seem fair.

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The Congressional Budget Office released a new report last month that again underscored the depth and duration of the income inequality issue in America concluding that the problem has worsened considerably in the past three decades.

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Kudos to BlackRock CEO Larry Fink who has called for a complete reorientation in the way we run our corporations, an abrupt about-face away from shareholder primacy toward a new paradigm where society is also a critical stakeholder. He says long-term profitability depends on it. He’s right.

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The private sector needs to rethink what we mean by productivity. Increasingly that term has come to signify profit. We need to shift the way in which we use technology—not to eliminate jobs, but to create them. The private sector—CEOs, boards, and shareholders—must prioritize that imperative.

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