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If consumers don't have the wherewithal to spend because all the money's going to the top, and the people at the top only spend a very small fraction of what they earn, then the economy is almost inevitably destined to slow.

Robert Reich

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Robert Reich
Age: 78
Born: 1946
Born: June 24
Economist
Former United States Secretary Of Labor
Political Scientist
Politician
University Teacher
Scranton
Pennsylvania
Robert Bernard Reich
Slow
Spend
Wherewithal
Economy
Fraction
Small
Fractions
Almost
Inevitably
Money
Destined
Going
Earn
People
Consumers

More quotes by Robert Reich

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There will always be a business cycle, and white-collar workers will get hit in the next recession like they always do in recessions.
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Cynicism is the largest obstacle to social change. Cynicism is dangerous because people throw up their hands and say, Well it's not possible. Why should I even try?
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When the President decides to go to war, he no longer needs a declaration of war from congress.
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I started in the law and the study of law, when it precedes the study of economics, gives you a set of foundation principles about how human beings interact. Economics is very useful, and I studied economics in graduate school. But without understanding the social and organizational context of economics, it becomes a theory without any groundwork.
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Liberals are concerned about the concentration of wealth because it almost inevitably leads to a concentration of power that undermines democracy.
Robert Reich
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The United States is a safe harbor.
Robert Reich
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Social change occurs when the gap between the ideals that people hold and the reality that they see every day gets too large.
Robert Reich
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When corporations get special handouts from the government, subsidies and tax breaks, it costs you. It means you have to pay more in taxes to make up for these hidden expenses, and government has less money for good schools and roads, Medicare and national defense and everything else you need.
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America's real business leaders understand unless or until the middle class regains its footing and its faith, capitalism remains vulnerable.
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The dirty little secret is that both houses of Congress are irrelevant. ... America's domestic policy is now being run by Alan Greenspan and the Federal Reserve, and America's foreign policy is now being run by the International Monetary Fund [IMF]. ...when the president decides to go to war, he no longer needs a declaration of war from Congress.
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There is a crisis of public morality. Instead of policing bedrooms, we ought to be doing a better job policing boardrooms.
Robert Reich
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Well-trained and dedicated employees are the only sustainable source of competitive strength.
Robert Reich
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Cynicism is the last refuge of those who don't want to do the work of creating a better society.
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The core principle is that we want an economy that works for everyone, not just for a small elite. We want equal opportunity, not equality of outcome. We want to make sure that there's upward mobility again, in our society and in our economy.
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Radical conservatives want to police bedrooms.
Robert Reich
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The poverty line understates the true amount of poverty because it measures it as three times the breadbasket that a family needs, but it doesn't consider all the other things that are inflating far, far faster than food prices.
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The Democratic Party is DEAD.
Robert Reich
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We do not want to live in a theocracy. We should maintain that barrier and government has no business telling someone what they ought to believe or how they should conduct their private lives.
Robert Reich
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One thing I've learned from 35 years in the classroom is that people learn best when they are laughing, when they are emotionally hit, that it's both the brain and the heart.
Robert Reich
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I mean, you hear the word 'globalization' over and over and over again. Globalization, globalization, globalization. Rarely has a word gone so directly from obscurity to meaninglessness without any intervening period of coherence.
Robert Reich