Author: Robert Reich
Year Published: 2010
Description: In Aftershock: The Next Economy and America's Future, former Secretary of Labor Robert Reich argues that culpability for the financial implosion of late 2008 lay not with Wall Street, as largely supposed, but rather a widening gulf between America's wealthy and middle class caused by stagnant wages and rising costs. He also provides a blueprint for reversing this increasing inequality, including a more progressive income tax, wage insurance and investments in public infrastructure, particularly related to transportation and health care.
- Public Submission
'The problem was not that Americans spent beyond their means but that their means had not kept up with what the larger economy could and should have been able to provide them. The American economy had been growing briskly, and America's middle class naturally expected to share in that growth. But it didn't. A larger and larger portion of the economy's winnings had gone to people at the top.'