Economist Stephen Rose is at work on the book mentioned above. His e-mail: Rose595595@comcast.net if readers wish to contact him to get answers from queries. MIT's Lester Thurow published an article decades ago -"The Myth of US Economy" as I recall vividly. Economics is an inexact science and there are so many variables,indeed!
"Democratic presidential candidates pepper their debates with references to the assault; leading liberal thinkers argue that supply-side conservatives captured the Republican Party during the Reagan administration and implemented policies that continue to privilege the super rich today. They tell a compelling tale of middle-class decline. Pity it isn't true." That is one school of thought.
But I would be inclined to demur at such reasoning by virtue of the high cost of gas affecting working Americans and the mortgage problems plus higher rate of unemployment as empirical evidence at present. Research report from Brookings Institution did arrive at the same conclusion re the plight of the middle class in America. Needless to say,economic data may be debatable but the true conditions of working Americans are not better off. Such realities caused solid support of Senator Obama's position to challenge and change the existing administration. His speech in Iowa was really remarkable and fantastic! It is up to the individuals to be on the pro or the con sides of the issues as folks would see fit. Francis Shieh a.k.a. Xie Shihao. January 5, 2008.
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