The Truth About The Economy In 2 Minutes [New]
Robert Reich shows that it’s not that hard to talk about economics from a progressive point of view. He’s done a few of these that make seemingly complicated topics entirely understandable – they deserve wide dissemination (and can be found on his site).
This is one of the most straightforward and clearest explanations of wage stagnation I’ve seen, which is essential in understanding how we got to where we are. He did miss one important dot – when the superwealthy have all the money, and their political power dismantles regulation, it leads to massive increases in speculation, and the inevitable economic crash (and bailouts, which follow from the imbalance in political power).
What Do You Think?
2 Responses to 'The Truth About The Economy In 2 Minutes'
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The Big Hurt [New]
Thursday, 16 Jun, 2011 at 10:57 pm
very nice. brief in time but not in content.
Tim [New]
Friday, 17 Jun, 2011 at 5:30 am
Briliant. In addition, he also left out that defunding infrastructure is defunding future wealth. That’s how you get to be a third world country: you give the money to elites instead of spending it on infrastructure that benefits everyone by creating wealth and jobs.
Of course, there is the underlying question of whether an economy should be built on consumption (which invariably leads to offshoring jobs to reduce costs) or something else.
Taking the subway the other day, and seeing ConEd PSA print ads, it struck me this sort of fact-telling is a critical piece of the puzzle in turning things around in the country. Find people where they are and give them simple irrefutable facts with a URL where they can learn more. Educate enough people this way and you create a base of voters who will tend to vote progressive and not against their interests. In theory. Certainly fewer voters will vote against their interests than if they were not confronted with simple easy to verify facts.
Thanks for this David. Too bad the YouTube comments have been disabled. Hopefully that was Reich’s choice and not forced by trolls.