There are party leaders, big corporation, Wall Street. There are very wealthy individuals who kind of represent where the Democratic Party, the official Democratic Party was and to some extent still is.

Inequality is bad for everyone, not just the middle class and the poor.

You and I and almost all Americans are beneficiaries of the new economy. But we are also losing parts of our lives to the new economy - aspects of our family lives, our friendships, our communities, ourselves.

What we really need to understand here is that it`s all about power. This is where the surge is coming from for Bernie Sanders. In some ways, it`s a very different - it`s a different surge, but it`s coming out of the same sort of sense of fundamental powerlessness and anger and frustration for Donald Trump.

The key to understanding the rise in inequality isn't technology or globalization. It's the power of the moneyed interests to shape the underlying rules of the market.

Now we're in a very different economy. Throughout the late 1980s and 1990s American management started to do the right things. There was extraordinary investment in technology. The dominant questions now are less how to do it better, how to manage better, how to make the economy better, than how to have fuller and more meaningful lives. Because the irony is, now that we've come through this great transition, even though our organizations and our people are extraordinarily productive, many feel that the nonwork side of life is very thin.

It is a myth that higher taxes lead to less demand and slower growth. In the first three decades after World War II, US top tax rates on the wealthy were never below 70 percent.