By Robert Reich
AS NEWT GINGRICH lashes out at “liberal elites,” Mitt Romney is casting the 2012 campaign as “free enterprise on trial” — and Romney defines free enterprise as achieving success through “risk taking.” U.S. Chamber of Commerce President Tom Donahue, defending Romney, explains, “This economy is about risk. If you don’t take risk, you can’t have success.”
But who do they think is bearing the economic risks? The higher you go in today’s economy, the easier it is to make a pile of money without taking any personal financial risk at all. The lower you go, the bigger the risks and the smaller the rewards.