". . .Inequality is not a bad thing in a free market economy; indeed, it,s essential if we,re to benefit from the incentives and efficiencies that make the market so effective a producer of wealth. But left entirely to its own devices, the free market will produce more inequality than is necessary for efficiency or a healthy society. That,s especially true in an economy marked by globalization, the increased use of information technology, and the rapid flow of capital across borders. Alan Greenspan said as much when he told Congress, Joint Economic Committee in 2004 that nearly all the benefits of recent productivity growth were going to corporate profits, resulting in "a marked fall" in employees, share of the gains.

"Nothing in the past two years has alleviated that problem. Real wages for the average worker have eroded, and health and pension benefits have faded. Meanwhile, corporate profits and pay for the top 2% of the population have soared.

"For many of us, this is morally objectionable because it means that a large majority of people live at a lower standard of living than we think Americans ought to. But the counterargument, supported by many in Corporate America, is that focusing on inequality is a mistake, so long as the absolute level at which the majority lives is acceptable. So any reduction in inequality can only be won by a majority that includes people who do not share my values-based objections. . .

"Therefore, it,s time to make a deal. I am prepared to help persuade my fellow liberals that many of the public policies they have been resistant to, or skeptical of, are in the national interest, if those in the business community work with us to ensure that the bulk of Americans get a larger share of our increased wealth. Our nation has both the resources and the intellect to implement public policies that diminish inequality so that it does not become socially corrosive, without reaching the point where that diminution threatens the needs of the capitalist system. Is Big Business ready to come to the table?"