ECONOMY

And Now the Richest .01 Percent

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By Robert Reich – The richest Americans hold more of the nation’s wealth than they have in almost a century. What do they spend it on? As you might expect, personal jets, giant yachts, works of art, and luxury penthouses. And also on politics. In fact, their political spending has been growing faster than their…

Suicide in Alaska and the Republican Empathy Deficit Disorder

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By Robert Reich – Commenting on a recent student suicide at an Alaska high school, Alaska’s Republican Congressman Don Young said suicide didn’t exist in Alaska before “government largesse” gave residents an entitlement mentality. “When people had to work and had to provide and had to keep warm by putting participation in cutting wood and…

Government Spends More Per Pupil at Private Universities than Public Schools?

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By Robert Reich – Imagine a system of college education supported by high and growing government spending on elite private universities that mainly educate children of the wealthy and upper-middle class, and low and declining government spending on public universities that educate large numbers of children from the working class and the poor. You can…

Report Shows Fuel Economy Up, Carbon Emissions Down in the U.S.

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By Glynn Wilson – WASHINGTON, D.C. – Due to federal regulations, like it or not, automobile fuel economy has hit an all time high in the United States, while carbon dioxide emissions are now at a record low, according to a report from the Environmental Protection Agency. Model year 2013 vehicles achieved an average of…

Why We Allow Big Pharma to Rip Us Off

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By Robert Reich – According to a new federal database put online last week, pharmaceutical companies and device makers paid doctors some $380 million in speaking and consulting fees over a five-month period in 2013. Some doctors received over half a million dollars each, and others got millions of dollars in royalties from products they…

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…

Raising Most People’s Wages

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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…

A Web Published Talk on Electronic Publishing in 2000

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Speech predicts the death of print newspapers, delivered at the turn of the century Writing Today conference at Birmingham Southern College, Saturday April 30, 2000. I am planning to say something more on this subject soon. This is a link for background in advance. You can read the talk, since it was published then on…

Adding Up the Billions Wasted by House Republicans

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By Nicholas Sheppard – How much have the Republicans cost the taxpayer, directly and in terms of hindered economic potential, since they took over the House in 2010? A few days ago, the price tag was announced for the Republican lawsuit against the president. House Administration Chairwoman Candice S. Miller, R-Mich., said the firm BakerHostetler…

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…

Organized Labor Could Make the Difference in Key Kentucky Senate Race

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If Union Members Were Not So Politically Conservative – By Berry Craig – PADUCAH, Ky. — Kentucky Secretary of State Alison Lundergan Grimes says Bluegrass State union members are her “secret weapon” in her quest to unseat arch conservative Republican Senate Minority Leader Mitch McConnell and help the Democrats keep a majority hold on the…

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…

Mercedes Found Guilty of Violating Labor Law

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By Glynn Wilson – Mercedes was found guilty this week of violating labor law against employees by an administrative law judge ruling for the National Labor Relations board. Judge Keltner W. Locke ruled that Mercedes-Benz U.S. International in Vance near Tuscaloosa committed three violations in dealing with employees who were working to try to unionize…