The Current Wisdom.

This article considers the attitude of U.S. President Ronald Reagan toward the rich. The author observes how the U.S. society has inched away from an egalitarian society in the direction of a merit society in the brief span of Reagan's term. The U.S. public thinks U.S. President Ronald Reagan is for the rich and against the poor. The author argues that the rich are irrelevant in the U.S. middle-class economy and that disabling political indiscretion lies in favoring the large over small and not in favoring the would-be rich over poor people.