Business leaders Quote by Hedrick Smith
““Inequalities are inevitable under capitalism, but no other advanced economy has such a hyperconcentration of wealth. In fact, as we’ve seen, America looks far different from its own past. The contrast between America in the era of the New Economy and America in our earlier era of middle-class prosperity is stark. Business leaders contend the fault lies with technology and globalization, but as we’ve seen, other countries such as Germany enjoy more widely shared prosperity than the United States. The primary cause of middle-class stagnation lies in the wedge economics practiced by business leaders.””
About This Quote
Source Article: The New York Times, 1998
Capitalism creates inequality, but the U.S. shows extreme wealth concentration compared to peers, driven by business practices that limit middle‑class growth.
In simple terms: U.S. wealth is highly concentrated, hurting the middle class.
Key Takeaway
Address wedge economics and promote broader wealth sharing.
Themes
economics
inequality
capitalism
policy
Mood
analytical
critical
Type
political
economic
When to use this quote
- policy debates
- economic reforms
- business strategy meetings
- public forums
Key Concepts
wealth concentration
middle‑class stagnation
globalization
technology
Questions to Reflect On
- What policies could reduce wealth concentration?
- How can workers influence corporate practices?
A Different Perspective
Changing the system may face strong corporate resistance.
![“What we should be doing [in US] is accelerating every year our efforts to reduce our greenhouse gas emissions, have a cleaner energy future, have much more energy conservation. And this won't hurt anybody. This will create a new economy for America, if we've got the discipline to do it.” quote by William J. Clinton](https://sms4smile.com/quotes/img-quotes/ec7/william-j-clinton-302_america_what-we-should-be-doing-in-us-is-acceler_1103630.jpg)
