Contents • Record Home • Publications • LBJ School
May 1, 2001
comments to: lbjwmast@uts.cc.utexas.edu
|
Former U.S. Labor Secretary Robert Reich Photo by Mark Rutkowski/University Photography Services |
In a February talk at the LBJ School, former U.S. Secretary of Labor Robert Reich told his audience that U.S. workers are in the midst of a transition as dramatic as that which occurred in the early years of the 20th century.
"We're now moving into a fundamentally different economy," he said, "one in which consumers and investors can swiftly enter into and exit from any relationship."
Because of this volatility, the labor laws that arose to protect workers in the old economy are increasingly inadequate, said Reich. He suggested that such measures as earnings insurance, which is geared toward protecting people from loss of income rather than loss of jobs, might be more effective than unemployment insurance. The chances of having a fluctuating income due to loss of overtime pay, for example, puts many people at risk of being unable to meet their commitments even when they continue to hold jobs, he said.
Reich, now a professor of social and economic policy at Brandeis University, was in Austin to promote his new book, The Future of Success.
