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. His website can be found here and his blog can be found here.
Los Angeles Times
Despite the populist rhetoric of this campaign season, many traditional
Democrats are pushing companies to generate higher returns regardless
of social responsibility.
These Democrats may not mean to do it, but this is the practical
consequence of how they're saving for retirement. American teachers, civil
servants, unionized workers, college professors and similar Democratic
stalwarts are putting their savings into giant funds like TIAA-CREF, the $
290-billion teachers' retirement system, and the $ 175-billion California
Public Employees Retirement System, or CalPERS. The teachers and others
want the highest returns they can get. So the large institutional investors
are demanding that companies make big profits and boost their share
In recent years, institutional investors have been active in ousting chief
executives at IBM, AT&T, Sears, General Motors, Xerox, Coca...
Broadcast June 8, 2001 Have you ever got to an airport to discover your flight's been delayed an hour or two, or more? Or its been cancelled altogether? Or after your plane leaves the gate, you spend the next hour on the runway waiting for it to take off? And as a result, you miss your connecting flight, and you don t get to the wedding or a funeral or meeting you had to get to? Join the crowd. America's entire air traffic system is overwhelmed, failing to keep up with growing demand for air travel. So now the Federal Aviation Administration comes up with a new 10-year plan, featuring more runways, bigger airports, and better technology. Fine. But the FAA has been promising these things for years, and they haven't happened. Since 1978 only one major new airport in America. In the last decade only a handful of new runways. And the last time the FAA tried a major overhaul of air-traffic technology it wasted billions of dollars on a system that didn't work. The FAA's new plan doesn't...
Broadcast Sept 18, 2001 Ask somebody who's not from the United States to describe Americans, and almost invariably you'll get a description of someone who's outgoing and upbeat. No challenge is too great for us, no obstacle too high. In fact, to the outsider, our overwhelmingly sunny view of life sometimes seems a bit naive, our boundless enthusiasm rather childlike. American optimism carries over into our economy, which is one reason why we've always been a nation of inventors and tinkerers, of innovators and experimenters and why we're the most productive economy in the world. Optimism also explains why we save so little and spend so much. As long as such things have been measured and compared, Americans have had the lowest rate of saving and the highest rate of personal spending of any major economy, and over the last decade, we've saved less and less and spent more and more. Our willingness to go deep into debt and keep spending is intimately related to our optimism and our...
Interview by A J Vogl Former Secretary of Labor Robert Reich looks at why so many people feel they're running just to stay in place. Robert B. Reich makes it look easy-from university to government back to university again. In 1992, he left Harvard's Kennedy School of Government to serve as secretary of labor during the first Clinton administration-the third in which Reich has served. Four years later, he resigned that position; currently, he is a professor of social and economic policy at Brandeis University and its Heller Graduate School. But while Reich returned to academe, he didn't retire to academe. He keeps busy writing books (eight at last count), is a regular commentator on National Public Radio's "Marketplace," and is national editor of The American Prospect magazine, which he co-founded. He has also been quoted as being interested in running for governor of Massachusetts. Reich's latest book, The Future of Success (Knopf), is related to his magnum opus, 1991's The Work of...
Los Angeles Times Microsoft will not be broken up. There's no chance the Bush administration will ask the Supreme Court to reverse Thursday's federal appeals court rescue of the company. Instead, the case will go back to a new judge to decide how to respond to Microsoft's monopoly without splitting it up. The best outcome: a new order requiring Microsoft to make its Windows operating system available to everyone free of charge. Here's the problem with Microsoft's monopoly, which even the appeals court agrees still must be addressed: Windows is so widely used that other producers of computers, browsers and other software have to license it from Microsoft if they want to connect their gadgets and codes to most other gadgets and codes on the market. This gives Microsoft power to thwart competition and discourage innovation. Imagine what would have happened a century ago at the dawn of the age of electricity if a company named, say, Electrosoft had patented a design for electrical plugs...