If nothing more is done, America's three-decade-long lurch toward widening inequality is an open invitation to a future demagogue who misconnects the dots, blaming immigrants, the poor, government, foreign nations, "socialists" or "intellectual elites" for the growing frustrations of the middle class. Full Story »
Posted by jpinsatx
Mr. Reich opines that financial inequality in the US caused the "great recession", then gives examples of what government could have done to avert the situation, and how the steps that are being taken now are too little (being watered down by the repubs/elite class/Wall Street) to get the job done.
Reich, Labor Secretary under Clinton, writes in this opinion piece that the ownership of society's wealth is becoming ever more concentrated, just like in the period before the Great Depression. He and others have written before to raise concern about average people's decreasing wages / stagnant or decreasing standard of living and increasing levels of anxiety, increasing influence of wealthy interests on politics, etc. What makes this piece noteworthy is his warning that the tide will turn, but it could very well turn in the direction of demagaugery, when an "increasingly mad-as-hell populace [is] determined to 'take back America'" from the "establishment." He lays much of the blame on Obama and the Democratic Congressional ... More »
Wall Street’s banditry was the proximate cause of the Great Recession, not its underlying cause. Even if the Street is better controlled in the future (and I have my ... More »
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