Robert Reich, Globaloney

If you watch this clip of Robert Reich’s discussion ‘Globaloney’ on YouTube,  you get a terrific talk whose basic theme is ‘what globalization ISN’T’.  The heart  of Reich’s speech is a very significant insight: economics is the great, great stepchild of “moral philosophy.” Adam Smith thought of himself as a moral philosopher not an economist; all things economic begin with the question:  ‘what is morally right?’ In this talk, Reich draws very close to Sandel, positing that an economy’s principal function is to facilitate the building up of a society whose first responsibility is to “do the right thing” for the society being served by it.  A corollary would be that there can be no “good economy” that isn’t driven, in great part, by fairness and justice. This presentation lays a solid moral foundation for why income inequality is a moral problem.

Hope this is better. In any event the speech is wonderful.

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