Professor Reich talks at Google about the impact of automation & artificial intelligence on our economy. He also provides a recommendation on how we can ensure future technologies benefit the entire economy, not just those at the top.
Trump’s Two-Step Strategy To Take Over The Truth
Donald Trump is such a consummate liar that in coming days and years our democracy will depend more than ever on the independent press – finding the truth, reporting it, and holding Trump accountable for his lies. But Trump’s strategy is to denigrate and disparage the press in the public’s mind – seeking to convince […]
Trump’s Seven Techniques To Control The Media
Democracy depends on a free and independent press, which is why all tyrants try to squelch it. They use seven techniques that, worryingly, President-elect Donald Trump already employs. Berate the media. Last week, Trump summoned two-dozen TV news anchors and executives to the twenty-fifth floor of Trump Tower to berate them for their reporting about […]
The Third Way: Share-The-Gains Capitalism
Marissa Mayer tells us a lot about why Americans are so angry, and why anti-establishment fury has become the biggest single force in American politics today. Mayer is CEO of Yahoo. Yahoo’s stock lost about a third of its value last year, as the company went from making $7.5 billion in 2014 to losing $4.4 billion in […]
The American Fascist
I’ve been reluctant to use the “f” word to describe Donald Trump because it’s especially harsh, and it’s too often used carelessly. But Trump has finally reached a point where parallels between his presidential campaign and the fascists of the first half of the 20th century – lurid figures such as Benito Mussolini, Joseph Stalin, Adolf Hitler, […]
Donald Trump And The Revolt Of The Anxious Class
The great American middle class has become an anxious class – and it’s in revolt. Before I explain how that revolt is playing out, you need to understand the sources of the anxiety. Start with the fact that the middle class is shrinking, according to a new Pew survey. The odds of falling into poverty are frighteningly high, especially […]
Why The Sharing Economy Is Harming Workers – And What Can Be Done
In this holiday season it’s especially appropriate to acknowledge how many Americans don’t have steady work. The so-called “share economy” includes independent contractors, temporary workers, the self-employed, part-timers, freelancers, and free agents. Most file 1099s rather than W2s, for tax purposes. It’s estimated that in five years over 40 percent of the American labor force will be in such […]
Austerity 101: The Three Reasons Deficit Hawks Are Wrong
Congress is heading into another big brawl over the federal budget deficit, the national debt, and the debt ceiling. Republicans are already talking about holding Social Security and Medicare “hostage” during negotiations—hell-bent on getting cuts in exchange for a debt limit hike. Days ago, U.S. Treasury Secretary Jacob Lew asked whether our nation would “muster the political will […]
Why We Must End Upward Pre-Distribution To The Rich
You often hear inequality has widened because globalization and technological change have made most people less competitive, while making the best educated more competitive. There’s some truth to this. The tasks most people used to do can now be done more cheaply by lower-paid workers abroad or by computer-driven machines. But this common explanation overlooks a […]
Labor Day 2028
In 1928, famed British economist John Maynard Keynes predicted that technology would advance so far in a hundred years – by 2028 – that it will replace all work, and no one will need to worry about making money: For the first time since his creation man will be faced with his real, his permanent problem […]
The Upsurge In Uncertain Work
As Labor Day looms, more Americans than ever don’t know how much they’ll be earning next week or even tomorrow. This varied group includes independent contractors, temporary workers, the self-employed, part-timers, freelancers, and free agents. Most file 1099s rather than W2s, for tax purposes. On demand and on call – in the “share” economy, the “gig” economy, or, […]
The Political Roots Of Widening Inequality
For the past quarter-century I’ve offered in articles, books, and lectures an explanation for why average working people in advanced nations like the United States have failed to gain ground and are under increasing economic stress: Put simply, globalization and technological change have made most of us less competitive. The tasks we used to do […]
