Business

Why the Economy is Still Failing Most Americans

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By Robert Reich – I was in Seattle, Washington, recently, to congratulate union and community organizers who helped Seattle enact the first $15 per hour minimum wage in the country. Other cities and states should follow Seattle’s example. Contrary to the dire predictions of opponents, the hike won’t cost Seattle jobs. In fact, it will…

Why Ordinary People Bear Economic Risks and Donald Trump Doesn’t

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By Robert Reich – Thirty years ago, on its opening day in 1984, Donald Trump stood in a dark topcoat on the casino floor at Atlantic City’s Trump Plaza, celebrating his new investment as the finest building in Atlantic City and possibly the nation. Last week, the Trump Plaza folded and the Trump Taj Mahal…

The Egregious History of Coca-Cola: A Capitalist Abuser

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By Heather Gray – Years ago, Alex Cockburn tried to encourage me to write a book about The Coca-Cola Company. I haven’t done this as yet. But he would be pleased, however, about me mentioning the recent victory reported by the India Resource Center regarding Coca-Cola Expansion Plans Rejected” in India. This was followed by…

The Rebirth of Stakeholder Capitalism?

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By Robert Reich – In recent weeks, the managers, employees, and customers of a New England chain of supermarkets called “Market Basket” have joined together to oppose the board of director’s decision earlier in the year to oust the chain’s popular chief executive, Arthur T. Demoulas. Their demonstrations and boycotts have emptied most of the…

Amazon and Hachette Face Off in E-Book Price War

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Guest Editorial Amazon Books Just before World War II, there was a radical invention that shook the foundations of book publishing. It was the paperback book. This was a time when movie tickets cost 10 or 20 cents, and books cost $2.50. The new paperback cost 25 cents – it was 10 times cheaper. Readers…

There’s No Correlation Between Work and Worth

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By Robert Reich – What someone is paid has little or no relationship to what their work is worth to society. Does anyone seriously believe hedge-fund mogul Steven A. Cohen is worth the $2.3 billion he raked in last year, despite being slapped with a $1.8 billion fine after his firm pleaded guilty to insider…

The Rise of the Non-Working Rich

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By Robert Reich – In a new Pew poll, more than three quarters of self-described conservatives believe “poor people have it easy because they can get government benefits without doing anything.” In reality, most of America’s poor work hard, often in two or more jobs. The real non-workers are the wealthy who inherit their fortunes.…

Lordly Lobby Is Not a Hobby: Courts and Corps Running History Backwards

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To learn who rules over you, simply find out who you are not allowed to criticize. – Voltaire, 1694-1778 – By David Underhill – MOBILE, Ala. – Newly captured Africans bound for slavery in the Americas often didn’t arrive directly. They stopped in the Caribbean islands for “seasoning.” There they lost their culture, language, religion.…

Students Head Into Heartland to Help Walmart Workers Organize

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By Robert Reich – I spent several days in New York last week with students from around the country who were preparing to head into the heartland to help organize Walmart workers for better jobs and wages. (Full familial disclosure: My son Adam is one of the leaders.) Almost exactly fifty years ago a similar…

The Practical Choice: Not American Capitalism or ‘Welfare State Socialism’ but an Economy That’s Working for a Few or Many

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By Robert Reich – For years Americans have assumed that our hard-charging capitalism is better than the soft-hearted version found in Canada and Europe. American capitalism might be a bit crueler but it generates faster growth and higher living standards overall. Canada’s and Europe’s “welfare-state socialism” is doomed. It was a questionable assumption to begin…

The Four Biggest Right-Wing Lies About Inequality

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By Robert Reich – Even though French economist Thomas Piketty has made an air-tight case that we’re heading toward levels of inequality not seen since the days of the nineteenth-century robber barons, right-wing conservatives haven’t stopped lying about what’s happening and what to do about it. Herewith, the four biggest right-wing lies about inequality, followed…

Why the Minimum Wage Should be Raised to $15 an Hour

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By Robert Reich – Momentum is building to raise the minimum wage. Several states have already taken action. Connecticut has boosted it to $10.10 by 2017, the Maryland legislature just approved a similar measure, Minnesota lawmakers just reached a deal to hike it to $9.50. A few cities have been more ambitious — Washington, D.C.…

Will Union Workers See the Light In Time to Save the American Economy?

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National Labor Relations Board to Begin Hearings on Workers Complaint Against Mercedes April 7 – By Glynn Wilson – BIRMINGHAM, Ala. — Union workers and members of the public who understand the important role organized labor plays in public affairs across America will be watching to see what happens when the National Labor Relations Board…