As we segregate by income into different communities, schools in lower-income areas have fewer resources than ever.
Robert ReichRead
The only way to make sure no bank is too big to fail is to make sure no bank is too big.
Interpretation
Regulating the size of banks is essential to prevent economic failures.
This quote by Robert Reich emphasizes the importance of effectively regulating the banking sector to prevent institutions from becoming so large and powerful that their failure would threaten the entire economy. It suggests that by ensuring no bank reaches a size that poses systemic risks, we can protect the financial system and promote stability.
In practice
In a discussion on financial regulation at a conference.
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.
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
When the rate of return on capital exceeds the rate of growth of output and income, as it did in the nineteenth century and seems quite likely to do again in the twenty-first, capitalism automatically generates arbitrary and unsustainable inequalities that radically undermine the meritocratic values on which democratic societies are based.
The unions might be good for the people who are in the unions but it doesn't do a thing for the people who are unemployed. Because the union keeps down the number of jobs, it doesn't do a thing for them.
I am in favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible. ... because I believe the big problem is not taxes, the big problem is spending.
It is credit that matters, not money (in other words, monetarism is a false ideology).
I cannot disagree with you that having something like 500 economists is extremely unhealthy. As you say, it is not conducive to independent, objective research. You and I know there has been censorship of the material published. Equally important, the location of the economists in the Federal Reserve has had a significant influence on the kind of research they do, biasing that research toward noncontroversial technical papers on method as opposed to substantive papers on policy and results
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