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ROBERT B. REICH, Chancellor’s Professor of Public Policy at the University of California at Berkeley and Senior Fellow at the Blum Center for Developing Economies, was Secretary of Labor in the Clinton administration. Time Magazine named him one of the ten most effective cabinet secretaries of the twentieth century. He has written thirteen books, including the best sellers “Aftershock” and “The Work of Nations.” His latest, “Beyond Outrage,” is now out in paperback. He is also a founding editor of the American Prospect magazine and chairman of Common Cause. His new film, “Inequality for All,” is now available on Netflix, iTunes, DVD, and On Demand.
Updated: 2 hours 28 min ago
I know a high school senior who’s so worried about whether she’ll be accepted at the college of her...
It’s now possible to sell a new product to hundreds of millions of people without needing many, if...
The 3 Biggest Myths Blinding Us to the Economic Truth
1. The “job creators” are CEOs, corporations, and the rich, whose taxes must be low in order to induce them to create more jobs. Rubbish. The real job creators are the vast middle class and the poor, whose spending induces businesses to create jobs. Which is why raising the minimum wage, extending overtime protection, enlarging the Earned Income Tax Credit, and reducing middle-class taxes are all necessary.
2. The critical choice is between the “free market” or “government.” Baloney. The free market doesn’t exist in nature. It’s created and enforced by government. And all the ongoing decisions about how it’s organized – what gets patent protection and for how long (the human genome?), who can declare bankruptcy (corporations? homeowners? student debtors?), what contracts are fraudulent (insider trading?) or coercive (predatory loans? mandatory arbitration?), and how much market power is excessive (Comcast and Time Warner?) – depend on government.
3. We should worry most about the size of government. Wrong. We should worry about who government is for. When big money from giant corporations and Wall Street inundate our politics, all decisions relating to #1 and #2 above become rigged against average working Americans.
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The U.S. economy is picking up steam but most Americans aren’t feeling it. By contrast, most...
It’s seed time for the 2016 presidential elections, when candidates try to figure out what...
GM is worth around $60 billion, and has over 200,000 employees. Its front-line workers earn from $19...
The President Should Not Only Veto the Keystone XL Pipeline but Stop it Permanently
The President says he’ll veto the Keystone XLpipeline. He should do more, and put an end to the project altogether. He has the authority. Oil from Alberta’s tar sands is the dirtiest in the world – causing not just serious environmental damage when it’s extracted but also when and if it leaks out along its route from Canada to the Gulf of Mexico. Please tell the White House to veto it permanently.
Suppose that by enacting a particular law we’d increase the U.S.Gross Domestic Product. But almost...
My recent column about the growth of on-demand jobs like Uber making life less predictable and...
How would you like to live in an economy where robots do everything that can be predictably...
The Worst Trade Deal You Never Heard Of
The Trans-Pacific Partnership, now headed to Congress, is a product of big corporations and Wall Street, seeking to circumvent regulations protecting workers, consumers, and the environment. Watch this video, and say “no” to fast-tracking this bad deal for the vast majority of Americans.