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Quote by Robert Reich

“Inequality is bad for everyone, not just the middle class and the poor.”

Quote by Robert Reich

Author

Robert Reich, born on June 24, 1946, is a former United States Secretary of Labor. He is an economist, author, and public intellectual, who served as the Secretary of Labor under the Clinton administration. Reich is known for his profound insights into labor markets and economic policies. more

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“The rich would do better with a smaller share of a rapidly growing economy then they're doing now with a large share of an economy that is barely growing at all.”

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“I supported Barack Obama originally. I supported him for reelection and the alternative of a Mitt Romney is very, very clear to everybody. And I think the president has done a good job in a number of areas. But one area that has concerned me from day one has been his reliance on Wall Street type people in terms of financial matters.”

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“When I was a kid, the bigger boys would pick on me. So I got an idea that I would make alliances with older boys, like just one or two, who would be my protectors.”

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“We're the richest economy in the history of the world. For the majority of Americans not to get the benefits of this extraordinarily prosperous economy, there's something fundamentally wrong.”

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“Wall Street has enormous power over the Republican Party, enormous power over the Democratic Party.”

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“I fear very much for our kids, for low income people and for seniors.”

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“If you ever want to get a sense of your own personal failure, look at yourself trying to get across a point that nobody is listening to and the situation gets worse and worse.”

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“No economy can continue to function when the vast middle class and everybody else don't have enough purchasing power to buy what the economy is capable of producing without going deeper and deeper into debt.”

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“I am not an economic determinist. If I were, I would throw up my hands; I just would not bother. I think it's wrong to be an economic determinist. I think it's wrong to simply say, "Well, inevitably, if you're poor, you're going to get a lousy education; if you're lower-middle class, the cards are going to be stacked against you, and you'll probably never get anywhere".”

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“If consumers don't have the wherewithal to spend because all the money's going to the top, and the people at the top only spend a very small fraction of what they earn, then the economy is almost inevitably destined to slow.”

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