He continues, “Deal with inequality, or risk intolerable taxes or social unrest.”
These sound like the words of an anarchist, socialist or plain out revolutionary – not a very successful advertising executive – one who came to this country as an immigrant 60 years ago.
Now, he is a very successful billionaire, having achieved the “American Dream,” and, acknowledging the opportunities that he was given, first attending an elite college preparatory school, then Princeton and Stanford.
He also has the understanding to write: “Would young people like…me get those opportunities now? I don’t think so.” He challenges business leaders to develop the will to control “the excessive greed so prevalent in our culture today and divert resources to better education and the creation of more opportunity.”
“The fact that real wages have been flat for about four decades, while productivity has increased by 80%” shows that business has not been investing in their employees, with fair compensation and creative innovations. Rather “gains from productivity go to shareholders, not employees.”