The question isn't whether it's "good" or "bad", it's what's driving the pattern and can we mitigate that? We have a lot growth economy where there is less investment and therefore fewer new and good jobs. Earnings are higher because companies are managing spending more aggressively because of the lack of growth and aren't investing which tends to reduce earnings in the short term. Wages don't grow because the top line isn't growing as well. So the benefits of the higher earnings accrues to the shareholders and they take a bigger cut of the pie. You could mandate higher wage levels, but then that further stresses the demand for labor as companies will figure out how to do more with fewer people. Automation and outsourcing are options now so we don't need the labor like we used to. Meanwhile without wages growing, inflation cuts into disposable income and people buy less stuff, further pressuring revenues. It's a vicious circle. All the politicians are promising is either "free market" or mandated benefit spending by the companies and neither addresses the problem. The elephant in the room is China, but the days when we could expect to be far ahead of the rest of the world are probably gone. In the future with more and cheaper automation we will likely need an entirely new economic paradigm. Many of the left wing futurists are selling flavors of socialism, but ultimately you need capitalism to get there because capital produces the stuff that such a society needs. It also could be significantly worse with some significant percentage of the population on welfare as there is no work and without political power given they have no means. There are tons and tons of hard questions to unravel in such a future and if the current political trends continue, we won't have anywhere near the competence needed in Washington to deal with it.