[Marxism] Reich's NYT column
gkissack at nyc.rr.com
Mon Sep 5 00:07:22 MDT 2011
Can someone suggest a good rebuttal to Robert Reich's column, "The Limping Middle Class", in yesterday's NY Times?
Reich argues that capitalism's "economic doldrums" can be reversed by "reviving the middle class" through imposing higher taxes on the very wealthy, reducing inequality and "maintaining strong labor unions".
At the heart of his argument seems to be the belief that we're in a crisis of underconsumption rather than a crisis of profitability, as people like Michael Roberts and Paul Mattick, Jr. maintain.
Reich also seems to ignore the fact that an increasing percentage of U.S. corporate profits come from abroad rather than at home. He also claims that the "political power of the executive class" can be overcome, which seems to ignore the reality that both major parties are more strongly in the grip of capital than ever before, which is saying a lot.
His article was short on concrete proposals on how to "revive middle class purchasing power," which he claims it the key to revitalizing the economy.
More information about the Marxism