Robert Reich: “Wealth and power are inseparable. Democracy depends on the support of a large and growing middle class that shares a nation’s growing wealth — and through that wealth, its power.”
“But for the last four decades, even as the American economy has tripled in size, the wages of most Americans have gone nowhere (in terms of real purchasing power) and America’s middle class has shrunk. An increasing portion of the nation’s wealth has gone to the top 10 percent — and a disproportionate amount of that to the richest 1 percent (and of that to the richest 1 percent of the richest 1 percent). Most Americans, by contrast, are now living paycheck to paycheck, and barely making it.”
“This vast consolidation of wealth and power at the top has not been due to neutral market forces. It is the product of a vicious cycle.”
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