Economy

In his well-written article about President Clinton, Kevin Phillips mentions “the lopsided economic boom that has created the biggest upward redistribution of income since 1929” (Opinion, Aug. 23). I want to thank Phillips for putting into intelligent words something that any clear-thinking, working-class American knows: We are told that the economy is doing great, and we see people around us repeating the slogan like parrots, but we do not see the “greatness” of that economy anywhere. On the contrary, we see our purchasing power, working conditions and job stability diminish daily. Yet, we tune in the news and again we are told how great the economic indicators are, but we know that we are not participating in that greatness.

When I read that what we have been seeing is an “upward redistribution of income,” I thought to myself, “Finally, an honest way to explain the economic boom of which a majority of Americans are not participants!”

GLADYS P. MARTINEZ

Santa Monica