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@shagen454, You're on to something about the nature of the future of economics, and also society through the 1% vs. the 99%. You're not wrong that a lot of *money has made it's way to the top, and is staying there.

But it wasn't always this way.

In his film, Inequality For All, Robert Reich points out that during the time of great prosperity in the US (1947-1977) inequality was low, and taxes on the wealthy were much higher than they are today.

A correlation of the effect this was how marketing was thought of. In CBC's "Under The Influence" episode on The World of Business-To-Business Advertising they point out that B2B marketing used to be the boring place that nobody in advertising really wanted to work, but now B2B marketing is surging.

The CBC radio show doesn't get into asking why that changed, but through the lens of modern economics it isn't hard to see. B2B marketing used to be boring because with low inequality, consumers--*working people*--had all the money. Now, with high inequality, consumers are broke, and all that money is just flowing among corporations, never really trickling more than a few breadcrumbs upon the serfs.

This has deep impacts on society and politics, especially in a land where "money is speech" and all the money is just passed between a few companies and their owners. This means that in the US, there are as few as 144,000 people who have enough "speech" (meaning money) that their voice actually matters, as is pointed out by Lawrence Lessig.


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I agree completely. Robert Reich is an intelligent and experienced economist, so he probably does understand the economy pretty well. Most of us do not understand it so well, so we latch onto the ideas of people whom we already agree with or whose framing of the issues pricks the right chemicals in our brains. Personally, trickle down sounds like rubbish to me, while giving the working class more money to spend sounds like common sense, but I couldn't hold my own against an expert who disagrees with me.

I don't know if it's a problem that most Americans don't understand economics, but if it is, this video isn't fixing it. 8 talking points that only sound good to people who already agree with them won't elevate the debate.

You're missing the point of this video. He never mentioned Democrats or Republicans. Reich, while he was Labor Secretary under Clinton, is currently part of Common Cause. As it slogan says, Holding Power Accountable. Similar to Lawrence Lessig and Change Congress / RootStrikers, they want to lessen the corporate influence on politics to bring it back to a government for the people. Reich is pointing out the flaws in legally allowing companies like Bain Capital to do what they do and profit excessively from it.
>> ^Winstonfield_Pennypacker:

All you really need to know is that its a Robert Reich video to know to throw it in the trash where it belongs. It is such a dumbed down, simplistic 'unnuanced' (to use a leftist term) interpretation. Aw - and he even uses cartoons.
I see a lot of pontification, and moralizing, and oh-so-much self-righteous indignation. This kind of business practice is perfectly legal, and it is engaged in by Democrats and liberals all the time, but somehow only Romney is to blame of course. :eyeroll: Typical. As usual, its an election year hit piece used to angry up the blood of the ignorant and the stupid.
You guys act like firing people is some sort of horrible thing that should never never never be done. I know leftists are blindingly ignorant and uninformed of how things are in the "real world" rather than thier fevered imaginations... But companies have to fire people all the time. In fact, if they don't fire people then they become bloated, cumbered, over-saturated dinosaurs that get annihilated by thier competitors. I notice that even the moronic Robert Reich freely admits that the process makes the business work better and more profitable. No one likes to be fired, but as the years go buy companies build up headcount, and as time goes on there are jobs that become obsolete, tasks that are redundant, and processes that are inefficient. Tightening the screws is healthy. It is how companies survive and thrive.
I myself was a casualty of a "downsizing" a few years ago. It happens. It isn't the end of the world. You brush up your resume, get out and hustle, and find a new job. Only in the tortured, idiotic mindset of a liberals does it make any sense that all jobs should be permenant and unending. Grow up people.

All you really need to know is that its a Robert Reich video to know to throw it in the trash where it belongs. It is such a dumbed down, simplistic 'unnuanced' (to use a leftist term) interpretation. Aw - and he even uses cartoons.

I see a lot of pontification, and moralizing, and oh-so-much self-righteous indignation. This kind of business practice is perfectly legal, and it is engaged in by Democrats and liberals all the time, but somehow only Romney is to blame of course. :eyeroll: Typical. As usual, its an election year hit piece used to angry up the blood of the ignorant and the stupid.

You guys act like firing people is some sort of horrible thing that should never never never be done. I know leftists are blindingly ignorant and uninformed of how things are in the "real world" rather than thier fevered imaginations... But companies have to fire people all the time. In fact, if they don't fire people then they become bloated, cumbered, over-saturated dinosaurs that get annihilated by thier competitors. I notice that even the moronic Robert Reich freely admits that the process makes the business work better and more profitable. No one likes to be fired, but as the years go buy companies build up headcount, and as time goes on there are jobs that become obsolete, tasks that are redundant, and processes that are inefficient. Tightening the screws is healthy. It is how companies survive and thrive.

I myself was a casualty of a "downsizing" a few years ago. It happens. It isn't the end of the world. You brush up your resume, get out and hustle, and find a new job. Only in the tortured, idiotic mindset of a liberals does it make any sense that all jobs should be permenant and unending. Grow up people.

>> ^ghark:

Déjà vu


Precisely.