I'm not an economist nor will I claim to know much about the economy (but I'm learning), however, I found this 2 minute video very interesting.
It would appear that Warren Buffett might agree with at least some of what Reich has to say. Buffett wrote in the New York Times:
My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.I am currently reading Reich's book Aftershock. Here's a synopsis from it's back cover:
When the nation’s economy foundered in 2008, blame was directed almost universally at Wall Street bankers. But Robert B. Reich, one of our most experienced and trusted voices on public policy, suggests another reason for the meltdown. Our real problem, he argues, lies in the increasing concentration of wealth in the hands of the richest Americans, while stagnant wages and rising costs have forced the middle class to go deep into debt. Reich’s thoughtful and detailed account of where we are headed over the next decades—and how we can fix our economic system—is a practical, humane, and much-needed blueprint for restoring America’s economy and rebuilding our society.