Robert Reich

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.

Recent Articles

The Coming Bush Recession

P resident of the United States Economy Alan Greenspan is frustrated. George W., the mere president-elect, won't deal. Worse, Greenspan can't punish W. for not dealing. He can't even credibly threaten punishment, because punishment is just what W. wants. Don't throw me into that briar patch, Br'er Greenspan! The last two presidents have been willing to strike a deal. Bush the Elder struck it too late, of course. Greenspan began raising short-term interest rates in 1988, at the start of the Elder's presidency, and squeezed and squeezed until Elder cried uncle. Elder finally agreed to raise taxes, despite what the public had read on his lips. But by then, growth had stalled and unemployment had shot upward. Elder was kicked out of office by an electorate worried about the economy, stupid. When Bill Clinton was elected, Greenspan made the deal explicit at their first meeting: You saw what I did to Elder Bush, he said. I could do the same to you,...

We Are All Third Wayers Now

I s the Third Way a new public philosophy likely to shape capitalism in a postcommunist twenty-first century? Or is it, as some from both ends of the political spectrum suspect, little more than a watered-down version of Reaganism-Thatcherism: less a new movement than a pragmatic, if not cynical, means of keeping liberals mollified while continuing the long-term shift rightward—a global version of Dick Morris's "triangulation"? Years ago, the "Third Way" referred to Sweden's social democratic middle ground between capitalism and communism, but in recent years the term has taken on a more varied meaning. Around Boston the "third way" describes the back route to Logan Airport, avoiding the tunnels. Others have used it in reference to a novel position for having sex. But when Britain's Tony Blair used the phrase in his successful bid to oust the Tories in 1997, he had something different in mind: a set of public policies equidistant from Margaret Thatcher and Old Labour, redolent of Bill...

The New Power

It seemed appropriate to begin my series of modest screeds with a short pre- millennial analysis of where power is moving to in America. Here's who's losing it: Giant corporations and their CEOs. They've made money in the current expansion, but they're losing clout. Vast industrial- age bureaucracies can't move fast enough. All are downsizing, and many CEOs are losing their jobs. Since 1990, heads have rolled at IBM, AT&T, General Motors, Sears, and other corporate behemoths. As the economy slows, expect more heads, lower profits, and downsizings on a monumental scale. Labor unions. Even with the tough- minded John Sweeney at the helm of the AFL- CIO, the percentage of private- sector workers belonging to labor unions continues to drop. Unless the AFL- CIO succeeds in organizing vast numbers of low- wage service workers in hotels, hospitals, retail stores, restaurants, and laundries, as well as platoons of overworked and underpaid high- tech workers, organized labor is in danger...

It's the Year 2000 Economy, Stupid

Exactly eight years ago, I trudged through New Hampshire sleet and slush, telling anyone who'd listen that Bill Clinton would do wonders for the American economy. Now, as the nation lurches into a millennial election year, most Americans seem largely content. The economy has faded as an election-year issue. But it shouldn't have—there are Two Big Things about the American economy that ought to be framing the upcoming election. Big Thing Number One: America has been growing faster than ever. Productivity has been rising 2.1 percent a year since 1993, according to just-revised statistics. I wish the Clinton administration could take full credit, but it turns out that, as Barry Bluestone explains in this issue [see "Conversation: Clinton's Bequest Reconsidered," page 18], the productivity-growth spurt actually began picking up steam in the early 1980s. The recession of 1991-92 was only a temporary pause. Neither Reagan's supply-side tax cuts nor Clinton's deficit-thwacking budget cuts...

How Did Spending Become Our Patriotic Duty?

The Washington Post A growing chorus is telling Americans that one of the best ways to demonstrate that the nation won't be cowed by terrorism is to continue to buy shares of stock and retail goods. Vice President Cheney said he hoped Americans would "stick their thumb in the eye of the terrorists and . . . not let what's happened here in any way throw off their normal level of economic activity." House Minority Leader Dick Gephardt proclaimed that Americans were "not giving up on America, they're not giving up on our markets." Treasury Secretary Paul O'Neill said, "We're going to show we have backbone." On Thursday night, President Bush asked Americans for their "continued participation and confidence in the American economy." Call it market patriotism. The theory is that we demonstrate our resolve to the rest of the world by investing and consuming at least as much as we did before, preferably more. The terrorists tried to strike at the heart of American capitalism. We show that...

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