Robert Reich
Recent Articles
Why Bush's Trade Agenda Is Going Nowhere
Robert ReichNov 13, 2001Broadcast November 8, 2001 The trade talks starting this weekend are a side show to the main trade event. That's a bill that the White House has been pushing to give the president what's now dubbed "trade promotion authority." It would allow Congress to vote yes or no on any new trade treaty, but not change the terms. That's the only way other countries will be willing to sign trade deals with us. Yet despite a lot of flag-waving and upbeat talk from the White House about getting trade promotional authority from Congress, the bill is going nowhere. The White House just doesn't have the votes to pass it, even in a Republican-controlled House and even with the backing of the most popular president in recent history. Why? Put simply, because Americans don't want more free trade. If polls are to be believed, a bare majority of Americans fear that more free trade will threaten their jobs. Last week's gloomy unemployment report showing 439,000 private sector jobs lost last month, the...
Prescription Drugs and More
Robert ReichNov 13, 2001Broadcast August 16, 2001 Just about the only thing George W. Bush and Al Gore agreed on during that interminable campaign last year was a prescription drug benefit for the elderly. Well, the first 100 days of the Bush administration came and went and still no prescription drug benefit, which isn't surprising. Prescription drugs are like the thread sticking out on a tattered sweater. Pull on it and all of Medicare starts to unravel. The recent budget agreement earmarks $300 billion over the next 10 years for prescription drugs. But that'll cover only a fraction of what the elderly are expected to pay for drugs. The president wants the elderly to join for-profit buying clubs that would negotiate with drug companies for lower rates. The idea is that when elderly people combine this way, they'll have more market power relative to the drug companies. But drug companies already have huge market power that's not going to erode simply because they have to deal with some buying clubs. It...
Security and Privacy
Robert ReichNov 09, 2001Aired September 12, 2001 Before yesterday, national security was mainly a matter of protecting our borders and containing foreign aggressors. We assumed that with enough border guards, a large enough missile defense shield and a sufficiently equipped military, we could keep bad things out. Inside `Fortress America,' we could lead our private lives pretty much as we wished. But we have entered a new era. Before terrorism entered our lives -- when we were still innocent, when we believed America was protected from the rest of the world by vast oceans, when it seemed that mass terrorism could never strike at the heart of our nation -- back then, we didn't have to sacrifice our personal privacy in order to maintain our security. After yesterday, the notion that national security is mainly about protecting borders and warding off foreign aggressors doesn't seem nearly as convincing. Countering terrorism will require much more. No fortifications or defense shields and no amount of military...
Finding our Enemy
Robert ReichNov 09, 2001Broadcast September 13, 2001 This morning the cleanup and grieving continue, and America is getting back to work. Talk also continues about retribution and war. Some Americans are feeling impatient to strike back at those who participated in any way in these horrific events. There is mounting public pressure to retaliate against our enemies, to demonstrate our power and resolve. General Henry Shelton, the chairman of the Joint Chiefs of Staff, says the American military stands ready. But it s still not clear exactly what the military stands ready to do, or should do. We don t know for sure who was responsible, although evidence points to Osama bin Laden, apparently still headquartered in Afghanastan. We learn that a lost piece of luggage contains incriminating evidence in Arabic. There are accounts that the hi-jackers were Arab. Meanwhile, we re shown televised pictures of Palestinians celebrating in the streets. And we re told that federal officials are interviewing a number of...
The Blame Game Over The Stock Bubble
Robert ReichSep 13, 2001Broadcast September 9, 2001 Who's to blame for the technology stock bubble that burst over the last year, for the billions of dollars that have been lost? Class-action lawsuits are in full gear. Investment houses and brokerages are on the defensive. The financial media are also under fire for acting as mindless cheerleaders. And what about all those authors who solemnly predicted the Dow would hit 15,000 or 21,000 or whatever absurd figure sold their books? Let's stop the blame game. The whole bubble really comes down to two things. First, the willingness of many seasoned investors, including large institutions, to knowingly enter a Ponzi scheme, in which vast riches could be made as long as there was a supply of bigger suckers who'd buy more shares at even higher share prices and higher price/earnings ratios. No number of lawsuits or legal challenges and changes will prevent investors from doing stupid things if they believe they can make money off even stupider investors. But the...
