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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
Going
Earn
People
Consumers
Slow
Spend
Wherewithal
Economy
Fraction
Small
Fractions
Almost
Inevitably
Money
Destined

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Education is not the only answer and it's certainly not the immediate solution. At best, it's a necessary, but not sufficient response to widening inequality.
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Terrorism itself is not the greatest danger we face.
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I have found over the years that the most important way of getting people to relax is self-deprecating humor.
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I think that it's difficult to talk about large questions of economics or social policy without understanding the building blocks of society. And those building blocks are organizations, the people who run them, and the people who work in them.
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In journalism, there are only two stories - Oh, the wonder of it, and Oh, the shame of it.
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Those who analogize the federal budget to a family's budget must know nothing about either.
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You ask, Could we have an honest discussion about earnings insurance? I think we could, if people understood that the alternative was to build up a backlash against global capital, against free trade, against technological change.
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We are born, we grow up, we live our lives as best we can. If we are thoughtful we are good parents and good partners. If we are wise we strive for integrity and intimacy. If we are fortunate we discover love and joy. If we are able, we make the world a little better than we found it.
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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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The path to success used to be up and through an organization. Now the path to success is increasingly through self-promotion.
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I was there in Washington in the `90s. It was pretty bad then. It`s much worse now [in 2015]. And that vicious cycle is you`ve got again big corporations, executives, Wall Street, very wealthy individuals in both parties who are calling the shots.
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You can't inspire people if you are going to be uninspiring.
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You can't create a political movement out of pabulum.
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We can't know in advance what history is going to say, but I would be utterly amazed and surprised if this entire adventure, this entire Iraqi invasion from the beginning of its inception, were not judged to be an utter failure and a terrible, terrible thing for the world.
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Cutting taxes is not bad. But if you cut taxes on the wealthy, which is what they wanted to do, you're not helping people who need better schools and better infrastructure and healthcare. You're basically robbing the middle class and the poor to provide tax cuts to the rich.
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Corporations are not people, despite what the Supreme Court says, and they don't need or deserve handouts.
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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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The federal budget deficit isn't the nation's major economic problem and deficit reduction shouldn't be our major goal. Our problem is lack of good jobs and sufficient growth, and our goal must be to revive both.
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The intellectual equipment needed for the job of the future is an ability to define problems, quickly assimilate relevant data, conceptualize and reorganize the information, make deductive and inductive leaps with it, ask hard questions about it, discuss findings with colleagues, work collaboratively to find solutions and then convince others.
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Median wages of production workers, who comprise 80 percent of the workforce, haven't risen in 30 years, adjusted for inflation.
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