Beyond Unemployment Insurance in the Face of Structural Job Loss: Whoever Said It Would Be Easy?

steel-mill

“The long memory is the most radical idea in America.” –Utah Phillips, as recalled by Amy Goodman I was reminded of Utah Phillips’ observation as I sat down to write this essay on how we approach public policy for dealing with unemployment during a time of mass unemployment. I intended to start off the essay [...]

The New Deal and the New New Deal: Countering Conservative Claptrap

gop-on-automatic

The stock market reached a six-year low today. Why? Some blame loose talk (including that of former Fed Chair Alan Greenspan) about nationalizing the nation’s banks. Others blame Obama’s new plan for helping homeowners who may not be able to pay their mortgages. But the real culprit is the accelerating decline in aggregate demand — [...]

Stimulate the Economy by Mending Our Safety Nets

piggybank

Lots of talk this week about the proposed stimulus. One high priority ought to be the most vulnerable members of our society. The safety net created in the 1930s to protect Americans from extreme poverty is in tatters. Now that we’re in the worst downturn since the Depression, that safety net needs mending. This should [...]

The End of the Great Moderation, the Bailouts of Freddie & Fannie and Wall Street, and the Tattered Safety Net for Everyone Else

Robert Reich

by Robert Reich — As we bail out Wall Street along with Freddie and Fannie and all the top financial executives who have been pocketing tens of millions a year, yet allow millions of homeowners and jobless Americans to sink, it’s worth contemplating what’s happening to the American economy and to our social safety nets.

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