Economic Inequality Is Real (Bad)

The 4th Way Is Better

Political Cortex: Economic Inequality Is Real (Bad):

By statusquobuster

02/22/2007 10:34:03 AM EST

Rising American economic inequality has received attention by Senator Jim Webb, presidential candidate John Edwards, CNN's maverick Lou Dobbs, and others. The middle class has not shared in rising national prosperity, because the nation's wealth has been siphoned off to the richest Americans. Some elites are nervous.

They have attacked what are pejoratively called 'neopopulists' - people who say the middle class is under siege.

Surprisingly, the attack and economic propaganda have come from the relatively unknown Third Way group that is associated with the Democratic Leadership Council. Why would self-proclaimed progressives and centrists put out a report that says the whole economic inequality story is bogus?

They favor continuation of the free trade globalization policies of recent Democratic and Republican administrations. They want no restraints on international trade, despite mounting U.S. trade deficits and loss of manufacturing and many professional jobs to low wage nations.

Of Third Way's 18 board members, 14 are current or former CEOs or investors, including several hedge fund managers and the co-head of global equity trading at Goldman Sachs.