Chapter Twelve. A Twenty-First Century Safety Net
OVER THE PAST HALF-DOZEN YEARS, the American economic structure has faced horrendous setbacks: the financial fallout of the 9/11 attacks, the stock market crash, the dot-com implosion, and the recession. Yet our economy as a whole has demonstrated extraordinary resilience, productivity, and competitiveness. Looking at the overall picture, things are really pretty good. But they never were, and will never be, equally good for everyone.
One alarming outcome of heightened competition is that individuals and families may face unexpected perilous economic crises at any time.[1] This is the troubling reality. We have an obligation as a nation to protect people against calamity. It is, therefore, time ...
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