At the end of the day, the question is whether President Obama's agenda responds adequately to his own diagnosis of the problem. If we are in the grip of decades-old shifts toward globalization and the substitution of technology for labor, as he insists, it is not clear that all his proposals taken together would do much to change the basic equation for working families. The president is betting that a steady-as-you-go strategy with modest incremental adjustments will be enough to restore rising wages and opportunity for all. In the judgment of the American people, the results of this strategy so far have been far from adequate. If the rest of the world cooperates, the next few years may be better. If not, the calls for more far-reaching changes will intensify.