Today’s News & Commentary — August 23, 2018
Responding to the #MeToo movement and the Supreme Court’s decision in Epic Systems, the California State Senate passed a bill that would prohibit employers from requiring a mandatory arbitration provision or nondisclosure agreement as a condition of employment. Big business argued that the law, which is awaiting Gov. Jerry Brown’s signature, would conflict with the Federal Arbitration Act and would thus be ineffective.
The stock market’s steady gains continued yesterday, and the bull market became arguably the longest in U.S. history. But as the New York Times reports, the $15 trillion in newly created wealth has accrued mostly to the wealthy. For the average American, most of their wealth is held in their home, and home prices and incomes have risen at lower rates than the stock market. In fact, the median American household wealth in 2016 remained 34% below where it was before the recession.
Encouraged by the recent overwhelming rejection of a ballot measure to institute right-to-work in their state, Missouri Democrats hope that Senator Claire McCaskill’s re-election campaign might be buoyed by a ballot measure to increase the minimum wage. However, some experts doubt that the measure will have the same galvanizing effect on union members, who typically make above the minimum wage and so would not directly benefit from the measure’s passage.