As we segregate by income into different communities, schools in lower-income areas have fewer resources than ever.
Robert ReichRead
To get back to the kind of shared prosperity and upward mobility we once considered normal will require another era of fundamental reform, of both our economy and our democracy.
Interpretation
Achieving shared prosperity and mobility requires significant reforms in our economy and democracy.
This quote by Robert Reich emphasizes the need for substantial changes in both economic systems and democratic practices to restore a sense of shared wealth and opportunity that was once seen as standard. It suggests that without these reforms, society may struggle to achieve the equitable growth and upward mobility that benefits everyone.
In practice
During a political rally focused on economic issues.
As we segregate by income into different communities, schools in lower-income areas have fewer resources than ever.
What are called 'public schools' in many of America's wealthy communities aren't really 'public' at all. In effect, they're private schools, whose tuition is hidden away in the purchase price of upscale homes there, and in the corresponding property taxes.
What someone is paid has little or no relationship to what their work is worth to society.
Tax laws favor capital over labor, giving capital gains a lower rate than ordinary income. The rich get humongous mortgage interest deductions while renters get no deduction at all.
The dirty little secret is that both houses of Congress are irrelevant. ... America's domestic policy is now being run by Alan Greenspan and the Federal Reserve, and America's foreign policy is now being run by the International Monetary Fund [IMF]. ...when the president decides to go to war, he no longer needs a declaration of war from Congress.
You can't inspire people if you are going to be uninspiring.
Adam Smith's 'invisible hand' is not above sudden, disturbing, movements. Since its inception, capitalism has known slumps and recessions, bubble and froth; no one has yet dis-invented the business cycle, and probably no one will; and what Schumpeter famously called the 'gales of creative destruction' still roar mightily from time to time. To lament these things is ultimately to lament the bracing blast of freedom itself.
Instead of abandoning competition and giving banks protected monopolies once again, the public would be better served by making it easier to close banks when they get into trouble. Instead of making banking boring, let us make it a normal industry, susceptible to destruction in the face of creativity.
Eviction is part of a business model at the bottom of the market.
I'm quite worried about the fiscal imbalances that we've got and what that might mean in terms of financial crisis ahead.
European officials thought that austerity was part of what they called their 'convergence policies,' of trying to bring countries together. Instead, it actually made things worse. There's more inequality within countries and more disparity across countries.
The more the division of labor and the application of machinery extend, the more does competition extend among the workers, the more do their wages shrink together.
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