This chart is pretty interesting
As Fred Wilson points out, the grim reality is that there is a growing gap between median family income and labor productivity. Whatever the reasons, this is bad news for families. Not all families, but many of them.
There may be policies that can reduce the effect, but I do not think that policy can eliminate it. If I am right, we can expect that more people will be relying on a few who are doing very well indeed. And we should not be surprised if younger folks do not get quite so excited about spending money as folks used to when incomes were rising more abruptly.