John,
Welcome to Bedford Falls!
In honor of this holiday season, won’t you join me in watching one of my favorite scenes from my favorite movie?
Yes, it’s Frank Kapra’s It’s a Wonderful Life, from 1946, and Jimmy Stewart’s iconic hero George Bailey has a few choice words for Mr. Potter, the greedy banker and slumlord in the community of Bedford Falls.
And what he has to say to Mr. Potter is still profoundly relevant today, more than 75 years later.
So why not pop some popcorn and heat up some hot chocolate, and let’s enjoy my favorite scene together.
And here comes the best part: Mr Potter is about to call the fine working people of Bedford Falls a “discontented, lazy rabble!” That’s going to get George all stirred up…
“Now, hold on, Mr. Potter. Just a minute…“
But no more spoilers! Let me just tell you, George is right.
When working people get a shot at a decent life, and have better jobs with higher wages, they have more money to spend. That spending grows the economy and helps businesses thrive — creating more jobs. It’s a virtuous cycle.
But don’t take my word for it — let’s watch the movie!
Happy Holidays to you and yours,
Robert Reich
Inequality Media
