Fable 1: The world is blessed with an advanced civilization renowned for its dynamism and freedom. Most of the world’s peoples admire and emulate it. But this civilization fails to notice a primitive, evil force that emerges worldwide, intent on destroying it. Motivated by envy and hate, the evil force exploits the openness of the […]
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 State of Our Citizenship
Boston Globe, January 23, 2003 The State of the Union is an opportunity for the President to rally Americans, but toward what? Throughout our history Americans have spoken in two distinct ways about what we owe one another as members of same society. In different periods, one view of citizenship predominates over the other. The […]
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America Goes It Alone
Remember “globalization?” It meant the interdependence of the worldthrough trade and investment, international coordination and cooperation. Globalizationwas thought to be an inevitable force — powered by American leadership. Oh yes, a few anti-globalists protested on streets here and there, but most peopleassumed globalization was here to stay. But now foreign investment in the United States […]
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Good Corporate Governance Isn’t Always Good Corporate Citizenship
Tyco International recently decided it would keep its headquarters in Bermuda. A number of state treasurers, public pension funds and unions are calling Tyco unpatriotic — which is not a very pleasant thing to call anybody, especially when the United States stands on the brink of war. Their argument is that America needs all the […]
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Oil Prices and Deflation
Look, I’m an optimist at heart. I see silver linings where others see nothing but clouds. So what if consumer confidence is at a ten-year low, consumer spending down, retail sales dropping, share prices still falling, wages in the private sector declining? Most people looking at these numbers are worried about the economy, but not […]
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Trickle-Down Pain
Even as the administration prepares for war in Iraq, Bush has revived trickle-down economics with an audacity that’s leaving old supply-side fanatics breathless. He’s pushing new tax-exempt savings accounts, more tax-favored retirement accounts, tax-free dividends, accelerated income-tax cuts and an end to inheritance taxes. Every reputable analysis shows that these provisions overwhelmingly benefit the very […]
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How Long Will This Bear Last?
Every time I talk with any stock broker or investment adviser I hear the same old thing. Just be patient. It may take a while. But it’s virtually guaranteed that over any 20-year period stocks will deliver positive real average annual earnings. In other words, hold on for 20 years, and you can’t lose. The […]
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The President’s Deficits
As a presidential candidate, George W. Bush vowed he’d cut taxes and also eliminate the national debt. Well, we’ve had one whopping tax cut already, and the President is seeking another big one. But the national debt shows no sign of decreasing. To the contrary, the President’s new and projected budgets promise hundreds of billions […]
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The President’s New Interest In Domestic Policy
State of the Union addresses are not only about rallying Americans beyind a President’s agenda. They’re also about making sure that agenda is in sync with public opinion. And that second function is especially true when a State of theUnion is delivered within two years of a reelection campaign. Not surprisingly, most of what the […]
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This Jobless Recovery Is Worse Than The Last
Remember the “jobless recovery” of 1992 and 93? Well, this recovery isworse. The only reason the official unemployment rate hasn’t risen above 6 percent is because a lot of people have stopped looking for work, and if you’re no longer looking, you’re no longer counted among the unemployed. In the past 22 months, since the […]
