Populist Rage

The bonuses given out to AIG executives last week caused many Americans who have never thought of taking to the street go to their blogs and to their congressmen. Has the Obama administration’s handling of the economic crisis awakened the inner populists in America? Our guest economist ROBERT H. FRANK wonders if salary caps actually work and ways to tax highest earners. He is featured in the current issue of Newsweek on “The Thinking Man’s Guide to Populist Rage.” Frank is an economist at Cornell, and is a visiting faculty member at the Stern School of Business at New York University. Listen to the mp3