Robert B. Reich, a co-founder of The American Prospect, is a Professor of Public Policy at the Goldman School of Public Policy at the University of California at Berkeley. His website can be found here and his blog can be found here.
When President Bush recently addressed Yale s graduating seniors, he gave a hearty "well done" to those who got straight A s, but consoled the C students by telling them that they, too, could be president of the United States. Apparently, he was referring to his own less than stellar academic performance as a Yale undergraduate.
A C-average as the key to success? Actually the President was on to something. Studies show that students who graduate from college with straight-A s have less chance of becoming chief executives of anything, and also are less likely to become rich later in life, than are students with more modest grades.
Among the hottest regulatory issues today are these: How to prevent kids
from smoking cigarettes? What to do about the flood of handguns? How to
end sweatshop labor in the apparel industry? How to cope with new kinds of
market power in high-technology industries?
A lot of Americans are concerned these days about
sweatshops in Asia and Latin America where poor people cut
and sew garments at cut-rate wages, often in unsanitary
conditions. But you don't need to go to a third-world nation
to find a sweatshop. You can find all the sweatshops you
want right here in the United States, producing a big
portion of the shirts, dresses, blouses, and skirts on the
shelves of big American retailers.
We're not in a war economy yet. We're in an economy that's just plain
sinking. What to do? Federal Reserve Chairman Alan Greenspan has told Congress to
"wait and see" what happens before enacting a stimulus package lest it create
inflationary fantasies among traders of long-term bonds. In an extraordinary show
of newly bipartisan gutlessness, our representatives in Washington are heeding
his advice. Congress shouldn't listen to Greenspan. A stimulus is needed right