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

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True patriotism isn't cheap. It's about taking on a fair share of the burden of keeping America going.
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I wish it were simply a nightmare, but I think that any reasonable person watching American politics would come to the conclusion that a second Bush administration would in fact incorporate a more radicalized version of what we've seen in the first administration.
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One logical consequence of this New Economy composed of big brands and entrepreneurial groups is that the unit of production is no longer a particular, identical product. The unit of production is the creative individual.
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We used to be so proud that our country offered far more economic opportunities than the feudal system in Great Britain, with its royal family, princesses and dukes. But social mobility in the UK is higher than in the US. Our social rift is as big as it was in the 1920s.
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There`s sort of a chilling effect on non-profits and the media and a lot of other places because the establishment is so powerful. That`s where the money is.
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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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Those who analogize the federal budget to a family's budget must know nothing about either.
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Being critical of the nation is a far cry from being unpatriotic or anti-American. In fact, most social criticism . . . is based on a love of America's ideals and a concern we're not living up to them.
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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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Now, inventiveness and empathy, those qualities, if they're together in the same person, you've got an entrepreneurial genius. But they do tend to be slightly separate.
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We reform the system. We save capitalism from its own excesses.
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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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When the President decides to go to war, he no longer needs a declaration of war from congress.
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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.
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If leadership is about anything, it's about leading. Not leading people back to where they already are, because they don't need that. They're already there.
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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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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.
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You can't create a political movement out of pabulum.
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In the life of a nation, few ideas are more dangerous than good solutions to the wrong problems.
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In Washington, it's dog eat dog. In academia, it's exactly the opposite.
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