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A U.S. Recovery Built on Low-Paying Jobs
The trend is troubling for the country's long-term prospects, says Edmund Phelps, who won the Nobel Prize for economics in 2006 and directs the Center on Capitalism and Society at Columbia University in New York. Businesses aren't innovating as much, so companies "just don't seem to require all those relatively high-paid workers they once did," he says.
http://finance.yahoo.com/news/A-US-R...VyeWJ1aQ--?x=0
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