Robert Reich Demystifies Government and Economics
I majored in government in college, then got my PhD in economics. These subjects fascinate me because government and the economy shape our lives so profoundly. Government and the economy are intertwined. A capitalist economy without government regulation will lead to exploitative monopolies, extreme inequality, labor abuses, unsafe food & medicine, child poverty, a permanent underclass, privatized (or lousy/non-existent) roads/telecoms/police/schools/jails, no help for the homeless, mentally ill, destitute elders, etc., and air/water pollution, environmental degradation, global warming, and many other harmful “externalities” (privatized benefits and socialized harms)....