Robert Reich
The Public Record
American political economist (1946–)
But those same regulations may be extraordinarily important to the average working person in America, because they protect that average working person.
I think the biggest problem with having so many billionaires at the top of government is that billionaires don't exactly know how normal people live.
Eighty percent of Americans say corporations raising prices to make record profits is a cause of inflation.
The Fed's continuing rate increases are not only flirting with a recession, but they are making it harder for workers.
Employers are complaining they can't find workers. Well, there is a way to find the workers: raise pay.
What we're saying is that corporations raising profits excessively is a cause of inflation.
Wages and wage gains continue to trail inflation, which means that most families... are falling further and further behind.
The underlying economic problem... is profit price inflation, that is, corporations raising their prices above increases in their costs.
Recent wage hikes have not kept up with inflation. Most workers' paychecks are shrinking in terms of real purchasing power.
This is a loophole for the super rich, the richest of the rich, and there is no redeeming social value.