How America’s Real Business Leaders Want to Save Capitalism

[Crewleader]

How America’s Real Business Leaders Want to Save Capitalism

Wednesday, June 18, 2014

by Robert Reich

A few weeks ago I was visited in my office by the chairman of one of the country’s biggest high-tech firms who wanted to talk about the causes and consequences of widening inequality and the shrinking middle class, and what to do about it.

I asked him why he was concerned. “Because the American middle class is the core of our customer base,” he said. “If they can’t afford our products in the years ahead, we’re in deep trouble.”

I’m hearing the same refrain from a growing number of business leaders.

They see an economic recovery that’s bypassing most Americans. Median hourly and weekly pay dropped over the past year, adjusted for inflation.

http://robertreich.org/post/89189063320

Summer Plans

[elleng]

1. Thank, Crew.

'America’s true business leaders understand unless or until the middle class regains its footing and its faith, capitalism remains vulnerable.'

[Crewleader]

2. You bet!

[Demeter]

3. I'll believe it when I see it

It's a good thing Steve Jobs is dead. Such sentiments would have killed him. Seeing as he was involved in wage-fixing for the electronics industry....

[Rod Beauvex]

4. Yeah, but the $64 question is:

What do these business leaders believe will fix the problem?

H1Bs? Outsourcing? Austerity? Cutting taxes on the rich?

I somehow doubt they believe in is taxing the wealthy and corporations like they used to be, and we're flat out to the point where we cannot move forward without doing either.

[tech3149]

5. I really appreciate that they went to him for advice

but I expect they are such a small percentage as to be insignificant. I think it was back about 2006 an article on Bloomberg or WSJ laid out a business plan advisory that basically said the US middle class is a dead issue. They advised the only viable markets in the US were high end luxury or budget dollar stores.
Since I've been living on a 0$ income since 2002, I guess I fall into that budget market.

[libodem]

6. I was just headed in here

With this copied to my clipboard.
. http://www.alternet.org/economy/robert-reich-why-even-business-leaders-now-realize-widening-inequality-terrible-problem

Great minds and all....

[Crewleader]

7. I agree