Put more money in consumers' pockets to boost recovery
Businesses are hesitant to spend because consumers still aren't ready to buy. The US needs to boost demand, not supply.
(Page 2 of 2)
Better that the President advance ideas that work, and go to battle over them.Skip to next paragraph
Robert is chancellor’s professor of public policy at the University of California at Berkeley. He has served in three national administrations, most recently as secretary of labor under President Clinton. Time Magazine named him one of the 10 most effective cabinet secretaries of the last century. He has written 13 books, including “The Work of Nations,” his latest best-seller “Aftershock: The Next Economy and America’s Future," and a new e-book, “Beyond Outrage.” He is also a founding editor of the American Prospect magazine and chairman of Common Cause.
Subscribe Today to the Monitor
Supply-side economics doesn’t work. It’s been tried for thirty years, to no avail. And now, when our continuing economic crisis is so palpably being driven by inadequate demand, it’s bogus than ever.
The last thing we need is for the President to go over to the supply side.
The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. This post originally ran on www.robertreich.org.