Read this "economists" proposal for the future of our nation here.
You'll notice Reich's primary response to our current economic problems is to increase taxes on the wealthy, and to give the money to the "bottom two thirds" of wage earners. Gee Robert, do you really have to be an economist at Berkeley to come up with the classic liberal solution to every economic problem?
Interest rates are too high? Tax the Rich!
Trade deficit too high? Tax the Rich!
Federal deficit too high? Tax the Rich!
But Reich breaks new ground with this analysis. The problem is this:
Middle class and lower middle class families have spent far more than they've been able to afford for 35 years. They've sent mothers to work, they've worked longer hours, and finally they've tapped out all their home equity. All in the name of a Lexus, a bass boat, a bigger house, etc.
Common sense says: Stop spending so much money and living above your means!
Robert Reich says: Tax the rich and give it to the economically irresponsible!
Of course, Reich goes on to give some lip service to improving schools in lower income areas, but that's like giving a starving child an apple seed. Sure it's nice and will produce long term benefits, but we need solutions today. Rewarding economic irresponsibility is not the answer.