Progressive economists argue that the weakening of unions in the US, together with tax policies favoring the rich, slowed middle-class income growth, while traditional transfer programs were cut back. With incomes stagnant, households were encouraged to borrow, especially against home equity, to maintain consumption.
对危机的令人信服的解释指向当今需求疲软和收入不平等性恶化两者之间的联系。进步论经济学家指出，在美国，工会的式微加上有利于富人的税收政策拖累了中产阶级收入的增长，而传统转移支付项目也受到了削减。在收入停滞不前的情况下，家庭被鼓励进行借贷，特别是用房子作抵押来借贷，以维持消费水平。