From a book review of Thomas I. Palley’s Plenty of Nothing: The Downsizing of the American Dream and the Case for Structural Keynesianism
He marshals a powerful array of economic facts and arguments to show that the interests of working families have gradually been sacrificed to those of corporations. Expanding on traditional Keynesian economics, he argues that, although capitalism is the most productive system ever devised, it also tends to generate deep economic inequalities and encourage the pursuit of profit at the expense of all else. He challenges fatalists who say we can do nothing about this–that economic insecurity and stagnant wages are the inevitable results of irresistible globalization. Palley argues that capitalism comes in a range of forms and that government can and should shape it from a “mean street” system into a “main street” system through monetary, fiscal, trade, and regulatory policies that promote widespread prosperity.
I liked the Mean Streets analogy. Of course there can be too much regulation. The general cry that over regulation is the big bad wolf has been inordinately shrill for the last thirty years at least. At times some regulations were too severe or burdensome, but for the most part corporate America plays the fiddle and Washington dances along.
And related Three Rulings and a Review by Devilstower some highlights,
*Just last week, the court ruled that workers were not eligible to sue over pay discrimination unless they filed that case within a few months of its occurrence.
*That the Bush administration spoke out in support of the company for valuing its corporate creditors above its workers isn’t surprising.
*At the same time that many workers are being displaced from manufacturing jobs and forced into service industries, the Court kept open a rule that says many of these same workers are not eligible for overtime.
In other words if you’re one of those Americans that works for a pay check free market forces are not really in play. A small government Republican named George and a court system that is overwhelmingly Conservative are the major factor s effecting your economic and family life. If we care about our fellow Americans the ironic humor in all of this government strong arming is small consolation. And hey we have to be careful about being too uppity or the company that doesn’t give a damn about income equality or overtime will just ship your job to China – according to Republicans and a few Democrats its the new country that can do no wrong. Communism isn’t the boogie man anymore its the jihadists.
Since we’re going to have permanent forces there a la North Korea maybe whether the “surge” works or not really doesn’t matter.
33. Despite growing awareness and concern regarding the humanitarian crisis in Iraq, the situation deteriorated steadily during the reporting period. The violence has resulted in a protection crisis which dominates discussions related to a humanitarian response. For every death reported in the news, six family members on average are left without a breadwinner. The rising number of displaced persons is also a cause for concern. UNHCR estimates that displacement has continued at an undiminished pace and over 800,000 Iraqis have been internally displaced since the Samarra mosque bombing in February 2006, while 30,000 to 50,000 flee to neighbouring countries each month.
A senior U.S. military commander said yesterday that Iraq’s army must expand its rolls by at least 20,000 more soldiers than Washington had anticipated, to help free U.S. troops from conducting daily patrols, checkpoints and other critical yet dangerous missions.
Even then, Iraq will remain incapable of taking full responsibility for its security for many years — five years in the case of protecting its airspace — and will require a long-term military relationship with the United States, said Lt. Gen. Martin Dempsey, who until recently led the U.S. military’s training effort in Iraq.
There might be a solution. I can’t find their exact membership total at the moment, but College Republicans did manage to gather up 120,000 volunteers for Bush’s re-election campaign. If just nineteen percent of those brave supporters of The Decider would enlist we’d have no problem meeting those numbers. Heck they’re young enough that they could just make staying in Iraq and making it safe for John McCain to buy carpets their entire career.
“Avoiding likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertions in time of peace to discharge the debts which unavoidable wars have occasioned, not ungenerously throwing upon posterity the burthen whic” – George Washington