Monday, February 24, 2014

Reich on target

Unsurprisingly, economist Robert Reich understands exactly what's wrong with our no-holds-barred, ever more efficiently-seeking-the-bottom-line economy.
Productivity keeps growing, as do corporate profits. But jobs and wages are not growing. Unless we figure out how to bring all of them back into line – or spread the gains more widely – our economy cannot generate enough demand to sustain itself, and our society cannot maintain enough cohesion to keep us together.
Unfettered capitalism is not going to be our society's savior, people. It is a blind mechanism for building wealth, but wealth alone isn't what makes a society strong. That wealth has to sustain people.

We have the wealth. What we don't have is an agreement on how that wealth should sustain people.

At some point the well-off have to understand that while they aren't responsible for giving us food and shelter, they share the country with us. If they don't want forced redistribution, they'd better help to figure out a way to make this economy work for everyone, not just themselves.

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