Robert Reich: Everything You Need to Know About the New Economy


The biggest economic story of our times isn’t
about supply and demand. It’s about institutions and politics. It’s about power. The median annual earnings of full-time wage
and salaried workers in 1979, in today’s dollars, was $43,680. The median earnings
in 2018 was $45,708. If between 1979 and 2018, the American economy almost tripled in size, so where did the gains go? Most went to the top. Now this is broadly known, but there is less
certainty about why. Conventional wisdom attributes the widening
economic divide to globalization and technological change — the “inevitable” result of the
invisible hand of the so-called “free market.” Simply put, as the American economy merged
with the rest of the globe, American workers had to compete with foreign workers willing
to toil for a fraction of American wages. And as technology advanced, American workers
also had to compete with software and robots that were cheaper to employ than Americans. So, according to this conventional view, the
only realistic way to raise the wages of most Americans is to give them more and better
education and job training, so they can become more competitive. They can thereby overcome
the so-called “skills gap” that keeps them from taking the jobs of the future – jobs
and opportunities generated by new technologies. The conventional story isn’t completely
wrong, and education and training are important. But the conventional view leaves out some
of the largest and most important changes, and therefore overlooks the most important
solutions. To understand what really happened, it’s
critical to understand that there is no “free market” in nature. The term “free market”
suggests outcomes are objectively fair and that any “intervention” in the free market
is somehow “unnatural.” But in reality, markets cannot exist without people constructing
them. Markets depend on rules, and rules come out of legislatures, executive agencies, and
courts. The biggest political change over the last four decades is the overwhelming
dominance of big money in politics – influencing what those rules are to be. Now, go back to the first three decades after
World War II — a period that coupled the greatest economic expansion the world has
ever seen with the creation of the largest middle class the world has ever witnessed.
The great economic thinker John Kenneth Galbraith asked at the time: Why is capitalism working
so well for so many? His answer was as surprising as it was obvious:
American capitalism contained hidden pools of what he called “countervailing power”
that offset the power of large corporations, Wall Street, and the wealthy: labor unions,
state and local banks, farm cooperatives, and small retail chains, for example. All
of these sources of countervailing power had been fostered by the New Deal. They balanced
the American economic system. But since the late 1970s, these sources of
countervailing power have been decimated, leading to an unbalanced system and producing
widening economic inequality and stagnating wages. The result has become a vicious cycle
in which big money – emanating from big corporations, Wall Street, and the wealthy
— determine the rules of the economic game, and those rules generate more money at the
top. Consider, for example, the ever-expanding
tax cuts or loopholes for large corporations, the financial sector, and the wealthy. Contrast
them with increases in payroll taxes for average workers. Or look at the bank and corporate bailouts
but little or no help for homeowners caught in the downdraft of the Great Recession. Finally, look at the increasing barriers to
labor unions, such as the proliferation of so-called “right-to-work” laws and the
simultaneous erosion of antitrust and the emergence of large concentrations of corporate
power. The public knows the game is rigged, which
is why almost all the political energy is now anti-establishment. This is a big reason
why Trump won the 2016 election. Authoritarian populists through history have used anger
and directed it at racial and ethnic minorities and foreigners. It’s also a big reason why the only alternative
to authoritarian populism is progressive populism — countervailing the moneyed interests with
a democracy that reorganizes the market to benefit the many rather than a small group
at the top. How do we build a new countervailing power
and move toward a new progressive economics? First, we need to talk about economics in
terms of political power 1. The choice isn’t between a free market
and government. The question is who has the power to organize the market, and for whom. 2. Stagnant wages, job insecurity, widening
inequality, and mounting wealth at the top are the result of political choices. The system
is rigged and must be un-rigged. 3. Conventional economics posits that the
most important goals are efficiency and economic growth. But policies can be “efficient”
by making the rich even wealthier as long as no one else is worse off — and that won’t
remedy what’s happened. Economic growth is meaningless if the gains from growth keep
going to the top and nothing trickles down. 4. Stop assuming that all that’s needed
is better education and job training. Sure, Americans need access to better schools and
skills, but the basic problem isn’t simply a “skills gap.” It’s a market that’s
organized to push more income and wealth toward the top, rather than distribute it broadly. 5. Stop aiming to “redistribute” from
richer to poorer after the market has distributed income. Instead, change the organization of
the market so that a fair pre-distribution occurs inside it. 6. Stop thinking that the goal is only to
create more jobs. America’s real jobs crisis is a scarcity of good jobs. 7. The American economy cannot generate widespread
prosperity without a large and growing middle class whose spending fuels the economy. Second, to get this done, build a multi-racial,
multi-ethnic, coalition of the middle class, working class, and poor. Don’t let the moneyed interests divide and
conquer along racial and gender lines. Racism and sexism are very real issues within our
economic system, and they are often exploited to keep us from realizing the power we can
have when we stand together. All are disempowered by the moneyed interests, and all have a stake
in rebuilding countervailing power. Third, offer a compelling set of ideas about
what should be done with countervailing power. For example: A guaranteed basic income so no one is
impoverished, A guaranteed job so everyone can get ahead, A progressive wealth tax to pay for these
and other basics, Stronger unions so workers have more bargaining
power, New forms of corporate organization so
workers have more voice, Reinvigorated antitrust so concentrations
of economic power are broken up, Election finance reforms to get big money
out of politics and end the revolving door, Voting reforms so votes cannot be suppressed. Finally, build the leadership for this new
countervailing power. You can help lead the way. You can be a leader
of this movement. How? For one, you can run for office — in your
community, say, city council or school board. Or run for state office. Or even national
office. Don’t be intimidated by politics. We need
good people to run. And don’t worry that you’ll be beholden to a handful of rich
donors. These days, smaller donors are more active than ever. So, what’s the secret? Tell it like it is
and be yourself. And then, as I’ve said, talk about economics in terms of political
power and understand the 7 principles. Build countervailing power through a multi-racial,
multi-ethnic coalition. And offer a compelling set of ideas about what can and should be
done. But you don’t need to hold formal office
to be a leader. You can be a leader by organizing and mobilizing
people: Your co-workers — to form a union. Your friends and neighbors — to push
for better roads and schools, and fairer local taxes. People at your church or synagogue
or mosque — to demand better treatment of the poor, the elderly, children, immigrants.
You can link your group up with other groups pursuing similar ends, and create a movement.
That’s how we got the Civil Rights and Voting Rights Acts. How we got marriage equality.
It’s how we get good people elected. The key to organizing and mobilizing is creating
a leadership team, and then reaching out systematically to others, giving them tasks and responsibilities,
starting small and gaining a few victories so people can feel their power, and then growing
from there. You’ll need to be patient and steadfast.
Keep people together and focused. And be careful not to burn out. Organizing and mobilizing
is hard, but once organized and mobilized, there’s no end to what people can accomplish. You can also be a leader by uncovering critical
information, fighting lies, spreading the truth. Core responsibilities of leadership
are revealing the facts about widening inequalities of income, wealth, and political power — and
uncovering their consequences. A century ago they were called “muckrakers.”
More recently, investigative reporters. I’m talking about courageous journalists who speak
truth to power. But this form of leadership isn’t limited
to reporters. It includes whistleblowers, who alert the public to abuses of power. And
here courage is also required because when you blow the whistle on the powerful, the
powerful sometimes strike back. This form of leadership also includes researchers,
who dig up new sources of data and analyze them in ways that enlighten and motivate. In other words, there isn’t just one path
to leadership. Whether you seek formal authority by running and gaining public office, or you
organize and mobilize people into being effective advocates, or you discover and spread the
truth — you are creating and developing countervailing power to spread the gains of the economy and
strengthen our democracy. These are worthy and noble objectives. They are worth your
time. They can be worth a lifetime. What do you think? How can we build a system
that works for the many, not just a wealthy few? If you found this video helpful, be sure to
also watch our video on the Monopolization of America. And, as always, be sure to subscribe to this
channel for more videos like this one.

100 thoughts on “Robert Reich: Everything You Need to Know About the New Economy

  1. WOW thank you for this amazing insight! VERY hard to find information that is not dumbed down beyond recognition. More more more! 😃

  2. Mr Reich: I would love to see you in discussion with AOC. In particular to discuss the range of examples of leadership you mention here and the experience of activating groups.
    Thanks 🙂

  3. Obviously the mother of all problems is the legal bribery system (campaign contributions) Get rid of big donations and you slowly start to solve all the problems that came about because of them.

  4. Robert, your "cocktail napkin" approach to complex issues is very enabling. This particular video should be required viewing in every high school. Students shouldn't have to wait until they get into Berkeley to hear your wisdom.

  5. We have a world wide Fascist Corporate Coup, (Kleptocracy)! My father Fought to defeat fascism, all the way through the South Pacific during WWII. He joined the navy at the age of fifteen, after Pearl Harbor. He eventually became a air pollution engineer, and worked his way up through the boiler makers union.
    These same ideological fascist have taken over our government, as well as virtually every allie we had at the time, with money, not weapons! 😢
    We the people’s government, owe us national healthcare, and Social Security, and a free education, for our forefathers sacrifice’s! This is why the British have universal healthcare, and we don’t! However the Kleptocracy in London is trying to kill this for its people now!
    Socialism for the rich, capitalism for the poor!
    https://youtu.be/pmdivrgllf4
    This Kleptocracy has had its time, with it’s entitlement programs for the rich and wealthy!
    This is our time! They have almost killed the planet 🌎 we live on!
    Cornel West takes down the Corporate Democrats
    https://youtu.be/n0zSKpzte7c
    Our President, the new CEO, of the intrenched Fascist Corporate Coup of our country is a fascist Kleptocrat!
    The heads of our two corporate party’s, are actually supporting this intrenched fascist corporate coup! 😢
    Knock knock on your heads!😢
    https://www.truthdig.com/articles/robert-mueller-did-not-do-his-job/
    Incumbent Democrats are stonewalling we the people as much as Trump’s comrades. Will the incumbent Democrat’s move on to impeachment of Barr! Barr is closing criminal investigations down, and refusing to prosecute these criminals! Will the incumbent Democrat’s ever enforce the subpoenas sent to the heads of the IRS? Will they ever subpoena Muller, and his legal team, and if they do, will they bargain away we the people’s right to hear the truth? Will they ever impeach Trump, or hold his family members accountable for their violations of the law?
    The president’s old attorney Cohan, goe’s to jail, and the rest of these criminals, including Trump’s new attorneys are free to commit crimes, with impunity! 😢
    Don’t forget, Cohan was the puppet of President Trump, and his son was signing the payoff’s to all Trump’s female liaison’s! If Cohan is guilty, the President, and his son, his wife, his daughter, his son-in-law, the top leadership of the Republican Party, Barr, IRS, exedra, are guilty as well!😢 Don’t forget the bullions of dollars in loans through the German banks, underwritten by the Russian’s to Trump, and his family. Trump is clearly guilty of tax fraud, bank fraud, wire fraud, campaign finance fraud, abstraction of justice, and list goes on!
    These Kleptocrat’s had no problem putting, a National Hero, Chelsea Manning in prison for violating a subpoena. 😢 These Kleptocrat’s, goose lock stepped, Chelsea Manning, a United States 🇺🇸 political prisoner, back behind bars, virtually over night! But the incumbent Democrat’s refuse to do the same for the king’s of the swamp! Why? 🤔😢
    Nancy, and Nadler have refused to put violations of subpoena’s to a full vote of the house, so that they can move on to fines, and arrest warrants! Why? Nancy, and Nadler are intrenched Kleptocrat’s! 😢 Please remember that Nancy is worth over a hundred million dollars! 😳 Do you think she will do anything that would get her snout out of the cooperate trough!
    https://theintercept.com/2019/07/07/nancy-pelosi-has-chosen-her-war-and-its-with-her-own-partys-future/
    Millions of dollars a day in fines, are something that Republican’s will understand for violations of subpoena’s! Seize these criminals assets, just like they are drug dealers !
    This only works if the Incumbent Democrats stop crying 😭 wolf 🐺 and start applying actual punishment’s for failure to comply with subpoena’s. Why haven’t the Incumbent Democrats asked the courts to have these individuals arrested for failing to comply with a subpoena, lying to the Congress/House, or appearing for questioning? 😢
    Democrats are stonewalling!
    Kleptocrat Nancy, and Nadler;
    Nancy as speaker of the House, and the Incumbent Democrat’s, are doing everything they can to stonewall we the people from seeing the truth about the Trump administration. Nancy, and Nadler should be asked to step down. They want to drag this court game all the way to the Republican owned Supreme Court!
    She, and her comrades, feel this is their best chance to put another Kleptocrat in office! A Bernie, and a Cortez type, clone will never be on their list for a acceptable President of the Kleptocracy!
    If you open up your eyes to the truth, that these centrist Democrat’s, are Kleptocrats, and in-fact are supporting a intrenched Corporate Coup of our country!
    https://theintercept.com/2019/07/07/nancy-pelosi-has-chosen-her-war-and-its-with-her-own-partys-future/
    The last thing they truly want is to see, is this Kleptocracy end!
    These corporate elitist, will only support a Kleptocrat like Biden, or a similar clone, to please the Corporate Coup! These Kleptocrat presidential hopefuls, will be championed, by the supper delegates, and the corporate media, run by billionaires, and millionaires, like Brian L. Roberts, the CEO of Comcast, and the owner of MSNBC. 😢
    Videos of the real Biden!
    https://youtu.be/RbODDQ95puM
    https://youtu.be/Xs1BPxNCfAg
    NSMBC lies about survey numbers, in favor of Biden, a Republican in a Democratic cloak!
    https://youtu.be/-bpnVGZkV4c
    https://www.truthdig.com/articles/msnbcs-anti-sanders-bias-is-getting-truly-ridiculous/

    The vast majority of the people support the belief’s of a true Democrat, and that being Cortez! Ask yourself how far along we would be if she was Speaker Of House. Ask yourself, how better off would our country be if A Cortez was President? Why is Cortez old enough to give her life in a Corporate War, but is not old enough to run for President? 🤔😢🖖
    We the people, most draw a line in the sand! We have to end this capitalistic Kleptocracy! 😢
    Our planet, that we live on, is in a ecological free fall! We my not be able to survive another eight more years of this Kleptocracy! 😢
    “Fight the powers that be!” ❤️🤗🖖
    Kleptocracy (from Greek κλέπτης kléptēs, "thief", κλέπτω kléptō, "I steal", and -κρατία -kratía from κράτος krátos, "power, rule") is a government with corrupt leaders (kleptocrats) that use their power to exploit the people and natural resources of their own territory in order to extend their personal wealth and political powers. Typically, this system involves embezzlement of funds at the expense of the wider population.[1][2]
    Kleptocracy is different from a plutocracy; A kleptocracy is a government ruled by corrupt politicians who use their political power to receive kickbacks, bribes, and special favors at the expense of the populace. Kleptocrats may use political leverage to pass laws that enrich them or their constituents and they usually circumvent the rule of law.

  6. Every person that emidiatly says socialism and Venezuela needs to watch this video. Regulation = protections, not socialism

  7. Let's be honest !
    After the second world war Europe was depressed and Destroyed and the world was colonialized about to fight wars of freedom
    Not much competition
    Now globalist are in control

  8. A specialized Economy be know for something
    Ships instead of aircraft carriers
    Space exploring
    Robots on the moon
    Do something besides selling stuff

  9. I think we should nominate Robert Reich for president. He would be better than all these politicians that try to blow smoke and side with their political parties ideas rather than the interests of the people.

  10. Truth No. One: IMMIGRATION–even 'LEGAL' –is at MUCH too high a level. "Native-born" U.S. workers are forced to compete DOMESTICALLY with greater & greater numbers of Third World "types" who benefit from DE FACTO quotas & apocryphally-based sympathies…. "Retraining" is too expensive and too slow…..usually req. energy/time draining commutes….with tenuous connexion to actual labour markets….

  11. Here's an unfortunate truth about the New Deal… it wasn't just "Green." It wasn't just about environmental policies… it included among other things programs that included the — GA$P — ARTS and the HUMANITIES as mechanisms to get people back to work and revitalizing local communities economies and their CULTURAL LIFE, which — yes it is — incredibly important to society. If you don't believe me, look up "Federal Dance Project," "Works Progress Administration," "Federal Art Project," and "Federal Music Project." 

    I DARES YA… look 'em up!! 

    Is it really that hard to figure out that, say, if you hire an artist that you're creating a job for someone? Is it really THAT hard to see a connection between buying tickets to a concert, a movie, or a poetry reading and stimulating the economy?? Is it THAT @!!*ing unfathomably ridiculous that if you teach your kids to appreciate Cubism as well as to swill beer while "watchin' da Cubbies" that such mind-broadening things as this is actually good for them as individuals and society as a WHOLE???  (Oh, and BTW… at least 2 American poindexter/artsy-fartsy composers – Charles Ives (who pitched for Yale's varsity team while he was studying with Horatio Parker) and Milton Babbitt, arguably "the Dean of the American 12-tone school," LOVED watching classic baseball games) were keenly interested in "our National game."

    REALLY????  

    … Oka-a-a-a-ay!

  12. This video is total bunk and the amount of people who eat this stuff up is amazing. No where in the video is it demonstrated at any point an understanding of what factors and rules actually make the global economy or "system" the way it is. The "solutions" he describes are something anyone who has completed an entry level macro class in high school would come up with or do a paper on. Economists have been actually saying these things for nearly a decade. If you have an opinion on the economy or "the system" as some might call it, but you don't understand what macro policy, fiscal policy, and what a central bank is, your opinion is void, period. You cannot visualize or begin to speak about how the world economy works when you don't understand the systems and theory that makes it so. This video is obviously a dog whistle to a certain portion of the political spectrum and I don't have a problem with that or with circle jerking in the comments. I'm just curious if the people watching aren't just some Reddit analysts looking to huff farts and can actually define basic concepts or how an interest rate works.

    What we need is not this crap, we need to change MONETARY POLICY. That is the NUMBER 1 ISSUE. I'm not advocating in preference to any rightwing or leftwing solutions to our current monetary policy problems of the world, I just want people to understand that THIS is the central thing you NEED to change 100% no arguments. The problem isn't really HUMAN GREEDY, GREEDY MAKE POROBLEM, its more of the fact that our economies are hedged on a LEGAL AND LITERAL BANKING CARTEL.

    Oh lefties, remember, central banks ARE NOT PUBLIC INSTITUTIONS, they are INDEPENDENT from their governments and are privately owned and operated by their respective boards. Might wanna start there if ur lookin for a "for the peoples solution".

  13. Wonderful explanation, yet shockingly revealing … Such a shame that so many Trump voters are in a different information bubble. (Misinformation is such a big problem. People are kept scared and ignorant …)

    But thankful for Robert Reich, what a teacher !!

  14. Robert Reich, I am your biggest fan in Mexico City! My father is a Keynes economist from the National University, I wished your content could be subtitled in a few languages! You will be surprised of how huge your reach worldwide is!

  15. And though double-entry accounting is 700 years old no one suggests that it be mandatory in high school. Then our economists say nothing about the depreciation of Durable Consumer Goods and the impact planned obsolescence has on that. Ever heard of NET Domestic Product?

  16. The best way to prevent civil war has always been a large and happy middle class. The wealthy are idiots to basically abolish it by driving it out of existence. Maybe not in their lifetimes, but eventually it will all blow up. 

    And then we start again.

  17. Darling, STOP all forms of taxes? And people will start getting rich!!
    And gradually, the powerfull and the wealthy will start losing their grip, and then losing money into a balanced state.
    Taxes are taboo in many religion, including mine.
    American taxes, however, are on A WHOLE DIFFERENT LEVEL!! They are AETs!! Antei-Enrichment Taxes!!
    When the small person become rich and starts gaining wealth? They start gaining power and influence.
    Taxes must be abolished!! If not? They shouldn't exceed 2%!!
    Consider this, on a small business:
    Tax on income.
    Tax on property.
    Tax on sales.
    TAX ON INVENTORY!! (Tax on unsold goods!!!!!).
    Tax on imports.
    Among many other taxes.
    ANY SMALL BUSINESS with such taxes?? Will NEVER grow!!
    It takes ONE TAX CUT to revitalize big businesses!! A thing that the small business owner will never even be allowed to dream about! 🙂
    I am not American.. but I know the business numbers my religion teachs. For example, in the holy Quran, God speaks about the 2% of your yearly earnings must be given to the poor, to purify your wealth.. the result? NO HOMELESS PEOPLE IN THE ISLAMIC WORLD!!
    Actually, many believe, that THIS IS THE VERY REASON THE GLOBAL ELITES (MOSTELY JEWS) FIGHT ISLAM!! Why? Because It bring stability and eguity to all in any soceity!! :o)
    And, by the way, the people who are required to purify their earnings? To pay the 2%? Are not everybody!! But a certain degree of wealth must be attained first (it is specified in the Quran how much, the thrushhold) then the person becomes required to purify his wealth, and thus must start giving away the 2% yearly!!
    I've heared a certain extremely rich American, forgot his name, not Warren Buffett, people said that if he gave away less than 2% of his total wealth? Every homeless person in America will have a house with services
    But.. greed is greed.. <:-)0-

    Good luck America..
    Your elites destroyed many of our beautiful countries due to greed.. but after seeing how they treat their own folks in America?.. no wonder they've dropped Napalm on Fallujah just for the sake of the oil.. which goes into many of their industries.. not just fuel..
    Sad..
    We are all childeren of Adam and Eve.. but God talks about man and their love for money.. where members from one family kill each other over inheritence..

  18. They did what Robert Reich describes in 1917 in Russia.  The result was the establishment of a totalitarian state which murdered 60+ million who didn't agree with their policy.  And guess what, they now have oligarchs running their industries,  JUST like we do here!  He does offer valid critique of the current system in US. I don't totally agree with his solutions though.  We're being offered the same collectivist systems that were being offered Russia and Germany in the 1920s and 1930s.

  19. How about keeping your entire paycheck to see where people want to spend their money? Instead of having it confiscated?

  20. How do we switch to a progressive system? Wealth confiscation, pure and simple. And after the system is corrected, a new law that requires 90 % of profits to be reinvested into the business, in the form of new employees, improved wages and benefits for the workers you have, and repairing the businesses infrastructure. No more cheap patches that won't last a week but are used because they're cheap, but the expensive, but done right the first time, job. Any mismanager or executive caught attempting to line their own pockets beyond the new 10 % limit is fired and subject to unpaid manual labor while serving a lengthy prison term.

  21. That's exactly what Marianne Williamson is doing, …..telling it like it is and being herself! She's the only one talking about real issues and what needs to be done! Some of the other candidates are starting to copy her but not many bc they are and have been part of th very system that has created all this! Einstein said, paraphrased- you can't solve a problem with th very mind(set), energy etc that created the problem in the first place! She's the only one NOT taking corporate monies to fund her campaign. She has a 40 year track record of integrity, giving, honesty, and creating shifts within people for the good and is more knowledgeable on American history and democracy then any other candidate I've seen and she's knows what needs to be done and is not afraid to do it. She is a combination of MLK and Kennedy! Get out and vote people and take action, otherwise you've no right to complain! Her site is extensive regarding what she stands for and listen to the interviews from many sources here on the tube. Get off your butts and get involved as Robert says! This is a critical time for everyone not only in this county but world. Are you going to be part of th problem or part of the solution is the only question and only choice!

  22. I loved the video. However, for the record, economists are not overly interested with "efficiency." What many of us are interested in is mutually beneficial exchanges between individuals. If we are interested in economic growth (a percentage increase in Real GDP per capita), it's because the bigger the size of the pie the more potential improvements for everyone.

  23. A little over 55 million people die per year in the world.
    The Atlantic says 33 thousand or so in the US died from fentanyl.
    https://www.theatlantic.com/health/archive/2019/08/chinese-company-helping-fuel-opioid-epidemic/596254/

    How can you lose 32,000 people a year in business, and still do as good as the feds say fentanyl dealers do?

  24. Great talk.Totally on board.We have a very unrepresentative system at all levels.And I totally believe that our polarization of wealth and power cheapen our whole American experience.And it's not just about wealth discrepancies.The wealthy can do things wether corporate entities or as individuals that would easily put the vast majority of us behind bars for a very long time.It is priveledge and entitlement at its worst.

  25. Dear Mr Reich,
    May I add that I felt you left out one important key to success, albeit you mention in other videos.
    That is: You need GOOD communication skills.
    Very bluddy good ones because Trump is LOUD.

    There is A LOT of noise out there and many lies and half-truths.
    Just SAYING the truth isn't enough.
    A good comms strategist and trainer is NOT a spin machine, they tell the truth but are great at giving the MESSAGE true legs. To SPREAD the message, you need to be the BEST damn message out there.. and have a strong, smart and savvy comms strategy in place.
    Trust me, I'm a professional 😉

    Thank you for your videos, Mr Reich. The comms in your team is strong!

  26. Mr.Reich, you are such a smart man. Why aren’t you doing what you just told us to do? Why aren’t YOU running for office? Running for President? I think you would make a great President. Who else agrees with me?

  27. When I was studying economics in college (it was my major) Robert Reich was Sec. of Labor, before leaving to take up his post at Cal. (UC Berkeley). To me, even in grad school, he was a "rock star" among economists. His lectures are so concise and "watchable", that they should be req'd viewing/reading for anyone wanting to know what's going on in our nation and our government.
    I really regret that during the Reagan Administration, I was working on Wall St as a banker (one of the "honest ones"), yet could see that the winds of change were ramping up in speed and strength. The absence of any attention paid to the huge monopolies being formed, the breaking of unions (the Patco—air traffic controllers union was one of the first) put the nation's flight routes in danger from over-worked and tired people in the towers. And that was only the beginning. So when are the powers-that-be going to start enforcing the anti-trust laws??? Those monopolies (in a nation that idolizes "rugged individualism", no less) are harmful to the middle-class, which, as Dr. Reich reminds us, is at the core of our democratic society. What happened???

  28. The multi racial coalition is probably a bridge too far. Unfortunately there are more power struggles other than the rich vs. the rest.

  29. Like the old economy. You get what you FIGHT for.
    https://www.psychologytoday.com/us/blog/pulling-through/201908/believing-you-get-what-you-work-can-destroy-compassion

    You disagree?

  30. If u want to get a system that persue and advocates the weel being of people.
    U have to get rid of money.
    Any system based on money, any monetarisim system… WILL NOT WORK

    2 simple steps for the change can begin.

    1.- We first we get rid of Patents and rights for any type of technology process or product.
    (No patents and no special rights will deliver an scenario of fairness competition among players, meaning the only bussines that will remain in bussines will be the one that can provide the product whit a cheaper price tag, instead of hidden political monopoly.

    2.- Goverment, will be in charge, of providing, any human being livin on their nation.
    Free Water
    Free Food
    Free Cloths
    Free Medical care.

    Free Shelter
    Free and Relevant Education.

    Goverment will start investing, all the money collected from taxes, to atomotized these 5 strategyc sectors, so no one can make profit from dening any human being this subjects.
    It means Infrastructure investment, all arround the nation, called "Acces Center" whare people will go a take what ever they need whit out a tag price.

    If u want to know more, pls, let me know.

  31. "Inequality is one of the most pressing crises of our time, and we’re tackling it in precisely the wrong way."-
    https://aeon.co/essays/the-real-sexism-problem-in-the-discipline-of-economics

  32. To be honest if the final objective of automation is to create an all purpose AI with almost superhuman cognitive abilities then all the education and reskilling in the world isn't going to change much.

    Regarding "Divide and Conquer" there are also fake progressives who waste time complaining about "white male" oppression or the fact that there aren't "empowered female leads" in movies instead of focusing on waging a united offensive against the new feudal lords.

    When Marx said "Workers of the world, unite" he did not mean "Workers minus some groups"

  33. This is cyclical. In the early 20th century the situation was similar to present.low wages high prices etc.This is the cause of economic depression in the 3rd decade with recovery up to the 7th decade more or less and down grade from there on till the first part of the next century

  34. Corruption in all of its institutes creates division, nothing else. If you are at the blunt end of corruption, believe yourself to be invincible because we have reached this point of existence. God is, was and always will be all over everywhere in all circumstances. If you are dishing out corrupt behavior, just stop. Because this is exactly when karmic wheels are going to turn to flatten you straight out in surrender.

  35. Skills in all people will be hidden until said people are protected and cannot be exploited. If everyone takes small steps toward a New Economy for All, it does make the job easier.

  36. Andrew Yang is this decades Ross Perot. We'll go 20 yrs. and say, Yang was right. We should have listened. And one day, we'll drag these Mother Fuckers out into the streets and give them what's due.

  37. 1970 Nixon took gold of the standard to the US Dollar, 2008 Central Banks printed money non stop and transferring wealth via elite and Stock Market.

    25 NEW Signs Of The Imminent Economic Collapse 2019 Stock Market CRASH!

    https://www.youtube.com/watch?v=EMm4oHHxu2g

    Who Controls All of Our Money done by an Australian with over 3 million
    hits

    https://www.youtube.com/watch?v=mQUhJTxK5mA

  38. 1970 Nixon took gold of the standard to the US Dollar, 2008 Central Banks printed money non stop and transferring wealth via elite and Stock Market.

    25 NEW Signs Of The Imminent Economic Collapse 2019 Stock Market CRASH!

    https://www.youtube.com/watch?v=EMm4oHHxu2g

    Who Controls All of Our Money done by an Australian with over 3 million
    hits

    https://www.youtube.com/watch?v=mQUhJTxK5mA

  39. All your video's are very informative and very accurate, but unfortunately the people who need to watch them will never see them.Many of the people I work with only get their news and information from Fox news and social media.We are doomed.bring back the Fairness Doctrine or something like so you have to hear both sides of the argument..

  40. I still insist it's like the old economy…

    "The reality, under capitalism, is that most of us consent to our own exploitation in order to survive.
    This is the nature of labour under capitalism."
    https://aeon.co/ideas/lolita-understood-that-some-sex-is-transactional-so-did-i

    Reality… Albert Einstein was captivated by it…

  41. In Germany workers are required to be a high percentage on corporate board of directors. We should require workers to be 51% of each board of directors on each corporation. We should also require a two term limit on each elected office and 10 year terms on Supreme courts appointed on alternate years. Career politicians must become a thing of the past.

  42. Am I the only one that finds it disheartening and infuriating that seemingly NOBODY at the top has been willing to do the right thing and are content sucking up all the money? They realize people lives are stake right? Why do we have to fight for enough scraps to survive? I'm all for counter balancing, but quite frankly, FVCK these people at the top – time to show them what real power is… it's not money or political influence. It's physics, biology, and wrath.

  43. We have a better chance of finding a unicorn. He's right, but im afraid for this to work we would need a revolution or civil war and start over.

  44. Think the purpose of these videos is information, to make one a more thoughtful citizen! But these videos sure make me dislike the elites of society! Capitalistic propaganda?

  45. Dear Robert, as a German I thank you very much. You are one of the very few people who have the correct overview and are so talented to say the most important things in a most eloquent and humanist way. Please come and be our next chancellor if the US don’t recognize your value 🙂

  46. Recently blew the whistle on a company useing at will law as their benefit…hireing and fireing and keeping final pay checks…trying to state they were useing contract labor but in fact were not. Awaiting tribunal by osha…meantime am going broke where he is rich…osha dropped the ball as well as building dept…job site left untouched…danger still exists…after third call saying danger left is unacceptable i contacted the AG office and all offices but the governors….thats next

  47. I agree with the contents of the message but it's so polished that I have trouble believing there aren't political forces behind these videos, especially given his background, I like Bernie though don't get me wrong, I just think my distrust for the motivation behind these videos is because there are so many clear cut badly biased ones with similar production quality

  48. The Problem with Unions is that they're only as strong as their members and if the members are not willing to stand outside and strike the union will never win because the company knows people are scared to lose their jobs. Which means the wages won't go up can't trust multi-billion dollar corporations to do the right thing.

  49. Democrats will never elect a man like Robert Reich because they're just as corrupt as the republicans, although he would make an excellent choice.

  50. Greetings from France,
    Blessings to you Mister Robert Reich,

    In deed scarcity and misery have been and are being organized, because it benefits to the most riches, against any morality, and always the poors are paying, working, believing and voting for this.

    Of course the people in power, in place and with wealth, choose the rules and the representatives that will protect and defend them as well as their self positions and self interests.

    But all this will not be possible, if the vast majority of people, would have a sense of care for their own community and for themselves. People have been separated, disorganized, endocrinated, discredited, confused, isolated, tourmented, paralyzed and hypnotized, so each of them contribute to their own enslavement and powerlessness.

    The real power is in each living beings, but people are educated to think and believe that they have to work and rely on others supposedly more knowledgeable or more in charge. People have been trained to abandon their power and lives in the hands of the most greedy and unscrupulous scammers, liers, cheaters and crooks, that hide themselves and their goals, and that appear, with the complicity of mass media, and public relations advisors, as to be the only solution of all of their problems. People are maintained in delusion and stress, in fear and hope, so they cannot make for themselves the good choices.

    But life is a chance, not a problem.
    But life is important for everyone.
    But life and freedom come with the acceptance of one's own responsabilities.

    Education, competencies, information, justice and welfare, are Very Important Places, but are not the core of the situation: the core is to be aware that society, as it has been organised by the wealthy notable, is based on inequalities, dominance and hierarchy: the poors work, live and die for the rich, not for progress nor to build together a democracy, but for the only goal and finality, for the richest to be able to continue, to be more rich and to keep their dominance, over the rest.

    Upon this awareness, lies the untruthful and dangerous idea if fascism, that some people are better than others, stronger than others, and because of these differences, are more deserving than others, more superior than others, more important than others.

    The glorious truth of a peaceful and harmonious world, is that everything and everyone is important and deserve to live and be happy, and to have their just shares, and the most important truth, is that that the best, the talented and gifted, the most accomplished and the most qualified and well placed in our world, should be the ones to protect and help the weakest, the poorest, the less lucky people.

    Life is about sharing with one another, and about helping and contributing to one another. The contrary is hell, is evil, is suffering and destruction.

    Everyone has to realise this situation, and these truths of a purpose, in order to be able, to make the right choices, and to contribute to the good and positive ideal of mankind…

    Thank you for bringing these awareness to the public
    Blessings
    PatH.

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