I disagree, although I admit I did not know the economics in this detail during the Clinton administration: there were union leaders even way back in the 1990s, and there *were* professional economists (academics especially) who would have told him, had he asked, that Clinton's economic policies SEVERELY favored paper "innovators" over productive innovators.
"Paper entrepreneurs - trained in law, finance, accountancy - manipulate complex systems of rules and numbers. they innovate by using the systems in novel ways: establishing joint ventures, consortia, holding companies, mutual funds; finding companies to acquire, 'white knights' to be acquired by, stock- index and commodity futures to invest in, tax shelters to hide in; engaging in proxy fights, tender offers, anti-trust suits, stock splits, leveraged buy-outs, divestitures; buying and selling notes, junk bonds, convertible debentures; going private, going public, going bankrupt.
"Product entrepreneurs - inventors, design engineers, production engineers, production managers, marketers, owners of small businesses - produce goods and services people want. They innovate by creating better products at less cost; establishing more efficient techniques of manufacture, distribution, sales; finding cheaper sources of materials, new markets, consumer needs; providing better training of employees, attention-getting advertising, speedier consumer service and complaint handling, more reliable warranty coverage and repair.
"Our economic system needs both."
Robert Reich, The Resurgent Liberal (1989)
About Financial Crisis
Read the Article at HuffingtonPost
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