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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhere Have All the Jobs Gone? (from May 3, 2013)
Where Have All the Jobs Gone?by JARED BERNSTEIN at the NY Times
http://www.nytimes.com/2013/05/04/opinion/where-have-all-the-jobs-gone.html?_r=0
"SNIP..............................
What would it take to reverse these trends? For one thing, in the near term, do no harm. Austerity, including sequestration, is the economic version of medieval leeching. The Federal Reserve continues to apply high doses of monetary stimulus, and thats supporting low interest rates, which in turn are linked to the improving housing market. But it cant do it alone, and Congress is counteracting such tailwinds with fiscal headwinds.
We also need a significant, permanent program to absorb excess labor (an explicit part of the Humphrey-Hawkins law). We should consider restarting and rescaling a subsidized jobs program from the 2009 Recovery Act that, though relatively small, made jobs possible for hundreds of thousands of workers.
And we have to reassess our manufacturing policy, including reducing the trade deficit. That means both reshaping our dollar policy going after competitors who suppress their currencies value to get an edge on net exports and public investments in areas where clean energy intersects with production.
Finally, financial deregulation has become the enemy of full employment: it funnels capital to unproductive parts of the economy, and plays a key role in the shampoo cycle of bubble, bust, repeat. Less volatile capital markets mean fewer shocks to the job market.
.............................SNIP"
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Where Have All the Jobs Gone? (from May 3, 2013) (Original Post)
applegrove
Oct 2013
OP
NYC_SKP
(68,644 posts)1. Two primary concepts come to mind: New financial models and the loss of American Identity.
And by "American Identity", I mean identification by the institutions with the "common man/person".
Even if, through the 20th Century, it was a facade, it was a POPULAR facade that every family would have a home, and every home would have two cars. A chicken in every pot.
That's gone, that's toast.
AND, there's a new shadow economy that bets on failure.
That's all I got. Less is more.
K/R
applegrove
(118,824 posts)2. + 100. You say it very well NYC_SKP.
NYC_SKP
(68,644 posts)3. Kick! (nt)
wundermaus
(1,673 posts)4. Technology has freed us up from mundane and repetitive labor...
to be unemployed, underemployed, and underpaid.
Workers have never been more productive, and never more so exploited.
Minimum wage should be 10% of the highest wage.
That would eliminate poverty, homelessness, and starvation for good.
Just saying, we could do that this.
(we make our own reality)