In America, people with lots of money can easily avoid the consequences of bad bets and big losses by cashing out at the first sign of trouble.

In America, people with lots of money can easily avoid the consequences of bad bets and big losses by cashing out at the first sign of trouble.

In the 1980s, corporate raiders began mounting unfriendly takeovers of companies that could deliver higher returns to their shareholders - if they abandoned their other stakeholders.

In the 1980s, corporate raiders began mounting unfriendly takeovers of companies that could deliver higher returns to their shareholders - if they abandoned their other stakeholders.

The largest party in America, by the way, is neither the Democrats nor the Republicans. It's the party of non-voters.

The largest party in America, by the way, is neither the Democrats nor the Republicans. It's the party of non-voters.

The silent majority really is a liberal majority, even though the word liberal has taken a real beating over the last 20 years by radical conservatives.

The silent majority really is a liberal majority, even though the word liberal has taken a real beating over the last 20 years by radical conservatives.

We never used to blink at taking a leadership role in the world. And we understood leadership often required something other than drones and bombs. We accepted global leadership not just for humanitarian reasons, but also because it was in our own best interest. We knew we couldn't isolate ourselves from trouble. There was no place to hide.

We never used to blink at taking a leadership role in the world. And we understood leadership often required something other than drones and bombs. We accepted global leadership not just for humanitarian reasons, but also because it was in our own best interest. We knew we couldn't isolate ourselves from trouble. There was no place to hide.

Tea Partiers hate government more than they hate the national debt. They refuse to reduce that debt with tax increases, even with tax increases on the wealthy, because a tax increase doesn't reduce the size of government.

Tea Partiers hate government more than they hate the national debt. They refuse to reduce that debt with tax increases, even with tax increases on the wealthy, because a tax increase doesn't reduce the size of government.

Standing up to bullies is the hallmark of a civilized society.

Standing up to bullies is the hallmark of a civilized society.

The curious thing is Americans don't mind individual mandates when they come in the form of payroll taxes to buy mandatory public insurance. In fact, that's the system we call Social Security and Medicare, and both are so popular politicians dare not touch them.

The curious thing is Americans don't mind individual mandates when they come in the form of payroll taxes to buy mandatory public insurance. In fact, that's the system we call Social Security and Medicare, and both are so popular politicians dare not touch them.

Money buys the most experienced teachers, less-crowded classrooms, high-quality teaching materials, and after-school programs.

Money buys the most experienced teachers, less-crowded classrooms, high-quality teaching materials, and after-school programs.

We don't have to sit by and watch our meritocracy be replaced by a permanent aristocracy, and our democracy be undermined by dynastic wealth.

We don't have to sit by and watch our meritocracy be replaced by a permanent aristocracy, and our democracy be undermined by dynastic wealth.

During three decades from 1947 to 1977, the nation implemented what might be called a basic bargain with American workers. Employers paid them enough to buy what they produced.

During three decades from 1947 to 1977, the nation implemented what might be called a basic bargain with American workers. Employers paid them enough to buy what they produced.

By the mid-1950s, more than a third of all America workers in the private sector were unionized. And the unions demanded and received a fair slice of the American pie.

By the mid-1950s, more than a third of all America workers in the private sector were unionized. And the unions demanded and received a fair slice of the American pie.