Monday, March 2, 2009

Who's this Economy for? with Robert Reich

Gregg here (Sr. Producer). I'm very much looking forward to the broadcast of our next program, an interview with former Labor Secretary Robert Reich. With the new GDP numbers being so widely discussed in the news, Reich sheds a refreshing light on the topic with plenty of shadows and highlights. After hearing his ideas (during our editing process here) I am really shocked at how shallow and one-dimensional the GDP discussion has been on MSNBC, CNN et al. 'Numbers down = bad.' That's it! Nothing about what useful insights, if any, that GDP numbers really deliver.. My sense is that the GDP is like a measure of calories. Imagine if today's headlines screamed "American caloric intake is down!" Would that mean that we're starving -- or just eliminating empty calories from our diets, like those from high fructose like corn syrup? I'd like to think that our lower GDP numbers indicate a downturn in wasteful spending. Listeners, we look forward to your insights from the Reich broadcast (release date is Tuesday, March 3).

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