Ben Stein’s sounding a little leftist in this New York Times column:
Don’t get me wrong. I like profits, a lot. They are what the capitalist society is all about. But why are we outsourcing, why are we moving our work overseas, if our corporations are so profitable? And if our corporate world is so profitable, how come so little of the growth goes to workers’ wages? How come — as an average number — basically none of the growth goes to the ordinary worker’s wages? I am not saying this to encourage strikes. I am genuinely puzzled about it.
He also touts the benefit of the estate tax and wonders why the nobody but the rich is getting richer.
As one of Nixon’s speechwriters, Stein certainly does have some conservative credentials. Of course, Nixon wasn’t really that conservative.
Stein’s not really advocating any heavy-handed government intervention (except with the estate tax), but rather he’s just pointing out that there are some odd things happening that the rules of normal economics don’t explain.
It’s an interesting column. Read the whole thing.