Robert Reich on the UK Economy

The debt and the deficit are reflections of the failing economy.  They are not the cause of the jobs and living standards crisis. We need to stop self-harming with ‘austerity’.


Published on May 17, 2013

Professor Robert Reich talks about what’s wrong with austerity and the current direction for the UK economy. Part of the After Austerity series from the TUC:

Where the US goes, we are sure to follow.


Robert Reich calls ‘them’ Regressives, we call them neofeudalists, plutonomists or neoliberals .. His points, about the significance of the US presidential election, are made more overt by Will Hutton in the Observer:

The American election is really a battle for the future of capitalism
‘Mitt Romney embodies a system dominated by financial engineering that uses companies as casino chips.’

This battle is pertinent for the UK, because we already have many of the worst aspects of the US system… and the plans of the coalition lead inevitably towards further americanisation.

THE REAL BATTLE IN 2012 AND BEYOND Professor Robert Reich WEDNESDAY, JULY 11, 2012

It’s not merely Republicans versus Democrats, or conservatives versus liberals. The larger battle is between regressives and progressives.

Regressives want to take this nation backward — to before Social Security, unemployment insurance, and Medicare; before civil rights and voting rights; before regulations designed to protect the environment, workers, consumers, and investors. They want to sabotage much of what this nation has achieved over the last century. And they’re out to do it by making the rich far richer, turning Americans against one another in competition for a smaller and smaller slice of the pie, substituting private morality for public morality, and opening the floodgates to big money in politics.

Progressives are determined to take this nation forward — toward equal opportunity, tolerance and openness, adequate protection against corporate and Wall Street abuses, and an economy and democracy that are working for all of us.

The upcoming election is critical but it’s not the end of this contest. It will go on for years. It will require that you understand what’s at stake. And that you energize, mobilize, and organize others.