Reich came to national prominence as President Clinton's Secretary of Labor. His grasp of and ability to communicate issues is what I like best. This week, he's talking about the American economy: where we've been, where we're headed & why. Monday's post gave historical perspective to the economy. Simply put, Americans no longer receive adequate work compensation allowing them to maintain a growing middle class lifestyle. The figures he quotes are breath taking. If you want a quick, clear overview of twentieth to twenty first century economics, read it.
Today's post follows the thread by linking yesterday's stock market plunge with the issues underlined in Monday's post. The job market is not growing at anywhere near projected estimates for economic recovery. May payroll estimates added 38,000 new jobs but we need, according to Reich, "125,000 new jobs per month just to tread water."
Robert Reich currently serves as Chancellor's Professor of Public Policy, UC Berkeley.
Robert Reich currently serves as Chancellor's Professor of Public Policy, UC Berkeley.
5 comments:
thanks for the tip...I'll be reading him now as well....even though I am Canadian , the U.S. economy affects us all....
Our economic failure is linked to cheap foreign labor and that is where the jobs all went and guess what? China is in the number one spot - and that's where we began sending jobs because they had lots of cheap labor and they were foreign. Ditto India.
He and Krugman are my dream dates. Really. Such bright men. I didn't know he had a blog. Thanks for that info. Now I'm following him.
I love him too!
You are absolutely right. Reich makes sense.
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