Robert Reich: Dismantling A Rigged System

Maybe a little late to the party but I am here now. I have been a privileged, conservative, white male with an advanced degree in the workplace for 40 years and will soon retire into poverty. I apologize that I have been hoodwinked by oligarchs and their political lackeys. Today I start the process to make our country better for the majority and not the 1%.

26:50 It's unsustainable economically. Break the 3 legs of oligarchy. 1. Change the laws that shape the markets. Enable competition and small business. 2. Punish racism for dividing us. No one is secure until everyone is secure. 3. Punish those who support the oligarchy. They are selling us out for personal gain in campaign funding and high paying positions in big businesses when they leave government. Restore representative democracy.

THIS EXPLAINS SOO MUCH! My grandfather retired as a foreman in the 80's, but from 1943- mid 70's, my grandparents raised their SIX children SOLEY on my grandfather's wage as a lumber millwright (no formal education). They never went without, they had nice birthdays & holidays, ate VERY well & healthily (is that a word?), always had nice clothes, 2 vehicles, and all the modern gadgets for that time. They never took out a loan or paid a bill even ONE day late. They took regular vacations, went to the movies, took private music lessons at home. They didn't have medical or dental insurance, yet never missed a regular check up, nor go without proper care, (again; never missed a payment). They had a nice home, in a nice neighborhood and (the most shocking part), made DOUBLE mortgage payments every month, without exception. Now I know how that was possible. Not just possible... COMFORTABLE.

Keep speaking the truth Mr. Reich! Great interview!

This is one of the best interviews ever. The way Molly Wood boils every question down to brass tacks and the way Reich addresses each is a study in Q&A clarity.

Once i heard about Bezos i vowed never to use Amazon for anything even if i was the only one in the world boycotting Amazon. I boycott awful tv providers too. I refuse to buy certain things from other companies. Example I wont accept being short changed with poor quality food. I do without alot of fruits rather than unripe undersized ones. I buy zero stuff with palm oil as i care about orangutans. Its not much i know but i feel better taking a stand

Unfortunately, for those of us who are living at the bottom of the income pyramid (and a college education is no guarantee that you will rise above that level - I speak from experience) - there is no easy way to increase our personal income such that we can survive comfortably, buy a house, buy a car, all the basic necessities. Public social service funds are never sufficient to the basic needs. Poverty is a way of life that the large majority of us must cope with. It takes a miracle to rise above this kind of subsistence living.

Two things will fix everything 1) Term Limits 2) No political donations over $100 by any entity

More education & skills isn't enough. I went all the way to a Masters in Education & a B.S. in Human Resource Mgmt, and I couldn't find a job that got me out of being a secretary. I'm now living on a Social Security pension, and thankful for that.. but it's barely enough to sustain me.

I've saying that for the past 40 years that wealth has been redistributed from working class to wealthy. I like that term pre-distribution of wealth, but I think I'll keep trying to get people to see that redistribution has already been happening. "Redistribution of wealth" is one of those terms that gets tossed out whenever anyone talks about social equity.

Places like this site are the prize you receive when stumbling around youtube.

Yes, yes, yes! Thank you so much, Professor Reich.

i cant believe this is the first time I've seen this, or heard of this guy, but a brilliant analysis of the situation at the time. He even hinted at what may happen after, as anyone who would watch this video knows to be true, and things have not gotten too much better, partially due to the Democrats corruption and incompetence of a few key members, especially Senators, and to the total unwillingness for the GOP to provide any ideas or assistance with passing much needed legislation because they're dazed in the cult of personality of Trump. The most important thing we need to focus on right now unfortunately is making sure our democratic foundations continue so we can change the system. Inspiring video and I definitely will be reading the book.

Can we solve this rampant inequality by banding together as worker/shareholders in our own business collectives - so that we can increase our wealth, and our control of property -- form our own shareholder Market Unions?

We are an anocracy, a back-sliding democracy, with an increasingly concentrated oligarchy, based in a smaller number of more enriched and more powerful corporations. Democracy means sharing power; being willing to lose an election without resorting to violence.

Men and women in the 70s and 80s were getting divorced too - totally frustrated with our inability to make a decent living wage, the impossibility of trying to buy a house, the rejection that we suffered by the banks, who wouldn't give us a loan - on a house that cost far more than we could ever pay. SIgh...

Tom Hartmann’s book Hidden History of American Oligarchy is a great history lesson.

So glad to finally hear somebody articulate, with such clarity, the very thoughts I’ve carried in my mind for decades.

In addition to his roles in political trenches, Robert Reich is an extremely savvy and capable economist on par with Nobel Laureate Paul Krugman.

"and were they entitled to HOARD their money". By Yahweh's moral standards- NO! Every single one of his employees could be loving a comfortable life if Bezos wasn't a greedy person. Many ppl blame the welfare system for destroying families. I partly agree considering I knew ppl back in the 70's who considered divorced after married ppl couldn't get supplements. But more than that, I blame the greed of capitalists & Regan tax structure.