"In the long run, though, the thing even execs should fear is this: What would happen if America's once-prosperous middle class, the sine qua non of a vibrant democracy, grew too strapped to purchase the goods and services that businesses produce? True, as workers in China, India and elsewhere move up the value-added chain, they should prop up global demand. But here at home, increasing income inequality could lead, as Sen. John Edwards (D-N.C.) warns, to a two-tier economy, with a small but ever wealthier coterie of capital holders and a sprawling proletariat. It's not inevitable, but worth worrying about. Even if the future plays out according to the economists' models, it might not be the type of society we want to live in." Very consise, pretty scary. |