This seminar was given by Hedrick Smith on October 11, 2013 as part of M-RCBG’s business and government seminar series.
Author Hedrick Smith speaks about his new book and the accidental beginnings of the 401(k) plan, with disastrous economic consequences for many; the major policy changes that began under Jimmy Carter; how the New Economy disrupted America’s engine of shared prosperity, the “virtuous circle” of growth; and how America lost the title of “Land of Opportunity.” Smith documents the transfer of $6 trillion in middle-class wealth from home-owners to banks even before the housing boom went bust, and how the U.S. policy tilt favoring the rich is stunting America’s economic growth.
