Combine the lowest interest rates in four decades, the biggest three-month risein stock prices since 1998, and a pending tax cut, and you get high expectations on Wall Street for an economic recovery in the second half of thisyear. But any recovery really depends on Main Street, and whether consumers are goingto buy enough to […]
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. He is the author of Saving Capitalism: For the Many, Not the Few, one of the books featured in the Prospect’s High School Essay Contest.
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The New Drug Benefit: A Squandered Opportunity For Reform
Medicare — the giant health plan now covering 40 million elderly and disabled Americans — is about to go through the largest expansion since it started almost 40 years ago. The House and Senate are now finishing up work on a new drug benefit. The White House wants it before the Fourth of July weekend […]
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Deflation Risks Bigger Than Optimists Let On
USA Today, June 23, 2003 Deflation. The word comes up more and more often these days.The Federal Reserve Board recently warned that America faces a risk of it. Japan has been suffering from it for more than a decade. Europe may be heading toward it. The entire world economy could succumb to it. But when […]
Posted inFeatures
Keep Your Eyes On the Prize
“Who are you with?” asks a Democratic activist. “I like Dean.” “He doesn’t have a snowball’s chance,” says another. “If we put up an anti-war candidate, we’re dead. Kerry’s the man.” “Kerry doesn’t connect with people,” says a third. “Besides, we need a southerner. I’m for Edwards.” “Edwards doesn’t have enough experience,” says another activist. […]
Posted inEducation in America
Human Capital Is Our Greatest Asset, And We’re Squandering It
High school seniors across America are getting their diplomas. But it looks like many of them won’t be able to afford college. Eighty percent of young Americans who go to college attend a state-supported institution. For the children of working families that can’t afford sky-high private tuitions, state universities and colleges are the ladders to […]
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Globalization Isn’t To Blame For Our Job Losses
A few nights ago, I heard the hosts of one of America’s eminent cable TV news programs blame the country’s mounting job losses on global trade and investment. I’ve been hearing this argument a lot lately from politicians, as well as media pundits. Supposedly we’re losing jobs because American companies are doing more and more […]
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New College Grads Don’t Need Another Degree
If you’re a new college graduate, I have some bad news for you. In case you hadn’t noticed, you’re entering the worst job market in 20 years. As a result, many of you have decided to get an advanced degree. Applications to law schools, business schools, medical schools, and Ph.D. programs are rising rapidly. But […]
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Get a Job
New York Times, May 19, 2003 This spring’s college graduates are entering the worst job market in 20 years. With few good jobs on the horizon, many graduating seniors think it is time to get an advanced degree. They should think again. Applications to both medical and law schools increased this year, while more people […]
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Going It Alone On The Dollar
The giant sucking sound you’ve been hearing for years now has been the sound ofAmerican consumers sucking in imports from the rest of the world. That’s kept other economies humming. But it’s also meant a huge trade deficit — close to 5percent of our gross domestic product — and a big price tag. To finance […]
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The Real Economic Choice Ahead
A crucial presidential election is just 19 months away. The Democrat’s nominee will emerge in a little over 10 months. Most Americans care most about the economy — and if you hadn’t noticed, it’s lousy. In the last three months alone, over a half million jobs have disappeared. It’s the worst record of month-to-month job […]
