The real structural problem in our economy

I’ve had no internet access for the last three days, so I’m a bit out of the loop, but this is the quote of the week on what’s really ailing our economic recovery. No, it’s not that our workforce isn’t equipped to do the work and neither is it that our kids are taking the wrong classes in college. This sums it up nicely:

Many pundits assert that the U.S. economy has big structural problems that will prevent any quick recovery. All the evidence, however, points to a simple lack of demand, which could and should be cured very quickly through a combination of fiscal and monetary stimulus.

No, the real structural problem is in our political system, which has been warped and paralyzed by the power of a small, wealthy minority. And the key to economic recovery lies in finding a way to get past that minority’s malign influence.

In fact this could describe what ails our entire system of governance.

On a related note, our political overlords don’t even know what the minimum wage is yet they routinely argue vehemently and vote against raising it, even as they automatically give themselves cost of living raises on a regular basis. Small wonder the backlash against incumbents, that I’ve been predicting for years now, has finally taken root.