 So, as the process of growth, globalization, and poverty reduction rolled on, people in rich countries, or at least the educated elite in rich countries who knew about it, looked at it with delight. In the educated elite, I include international organizations such as the World Bank and other development agencies and foundations, as well as readers of the mainstream press, and most governments of rich countries, and me. But not everybody in the rich world was so satisfied. After 1970, growth in the rich countries slowed markedly. Many people struggled to be better off than their parents. For them, the expectation of progress that each generation had been and would continue to be better off than the previous generation was failing them. One reason is that low-skilled jobs in flourishing cities have become less available than once was the case, and the cities have become more expensive. The jobs that were lost were less skilled jobs, but the better jobs that were available were high-skilled jobs. People without a four-year college degree, without a BA, were increasingly in trouble. I will talk in a minute about the many reasons for the increasing division for people with and without a BA, but I want first to show you some evidence of just how badly hurt they have been. Capitalism in America today has stopped working for the two-thirds of the population who do not have a four-year college degree. Here are a few of the most important facts. Participation in the labor force for those without a BA has fallen, as have their real wages. Both participation in wages rise in good years and fall in bad years, but rises have never taken them back to the previous high. Even when working-class wages were doing well in the months before the pandemic, they were below what they had been at any year in the 1980s. Some have argued that these Americans are lazy and no longer want to work, but if that were two wages of low-skilled workers would be rising, not falling, it's the jobs that are vanishing, and with them the wages that allowed their parents to have a good middle-class life. And it's not just material well-being, marriage rates have fallen dramatically. Nonmarital childbearing has risen. Many children live apart from their fathers. Communities are failing, too, with church-going declining and millions of working-class men detached from any form of institutional support. Worst of all is what has happened to their health. More than 100,000 Americans are dying of drug overdoses every year. These are counted as accidental deaths, but the drugs they were using did not get into them by accident, and so there's always an element of self-harm. Suicides themselves has also been rising rapidly as have deaths from alcohol abuse. These are the deaths that Ann Case, who's sitting here, and I call deaths of despair in our book, and almost all of the increase in deaths of despair since the late 1990s has been among people without a college degree.