Former Clinton Labor Secretary Robert Reich, now at Berkeley, is as articulate and passionate as any economist on the left. He is ubiquitous on cable-tv shoutfests. I keep waiting for him to say with conviction that the private sector must create wealth before the government can redistribute it. I’m not holding my breath.
Whatever else you think about him, Reich makes the case as well as anyone that the economic spoils of the U.S. economy are increasingly concentrated at the very top of the income scale. His essay on “The Limping Middle Class” in the Sunday Review section of the new York Times September 4, 2011, is well worth the effort. Don’t miss the related graphic.