I stumbled across Reich’s (Secretary of Labor under Clinton) blog a few months ago. I’ve been impressed by his posts and thoughts. Central to the recovery, in Reich’s mind, is the increasing concentration of wealth at the top of the American economy and the reduced purchasing power of the middle and lower classes.
In his most recent post he doesn’t blame corporations, who are maximizing profits as they should, nor the rule-abiding rich, who are merely taking advantage of legal opportunities available to them. He suggests not wealth redistribution but better regulations for better opportunity and purchasing power.
Read an article or two and see what you think. I’m a big fan of personal responsibility but that only makes sense when people have the opportunity to succeed and get ahead. Our jobless recovery and growing debt are not good omens for long-term American prosperity.