The 4 A.M. Army Every morning, hundreds of thousands of workers show up for jobs that are unseen, uncertain and underpaidâand vital to the U.S. economy http://nation.time.com/2013/06/27/the-4-am-army/
Awful. Hopefully it is not a portent of the future for us? What happens to one of us, happens to all of us.
Globalization.... Capitalism is fairly brutal when not viewed through the lens of the US circa 1945-2007. Unfortunately those days are gone
I don't know. Probably a lot of things. I think that was a pretty unique time period where the US emerged as the epicenter for manufacturing after WWII. Probably demographics played a big role. I think Europe and much of the rest of the developed word's manufacturing base was decimated because of war, whereas ours staying completely intact, and in fact blossomed due to the war. I think the US emerging as the free world's main super power played a big role. Obviously it was an amazing time where we had a strong currency and a very strong manufacturing base. The middle class blew up in this country.... I'm not sure there will ever be another time period where someone can graduate from HS, walk across the street, get a high paying manufacturing job at 18, support a family and buy a home by 20 with a stay at home wife. I wasn't bashing capitalism in my previous post, just pointing out that it's not without brutality. It's by far the best system that I know of, but I think the trend we're seeing in the US is closer to the long-term norm for capitalism than the 50's-90's.
The basic problems of open borders immigration and globalism: -Wage arbitrage for the many, universally enforced property rights for the few -"not in my back yard" environmental destruction -Authentic diversity is replaced by corporate diversity - "coke or pepsi" -cultural dominance of the money culture - everything has a price, devaluation of higher values I'm mostly a libertarian but I do think fundamental distortions exist within the logic of capitalism.
Quote from zdreg: what made those days disappear? ------------------------------------------------------------ Replacing Keynesian Economics with Trickle Down Economics.
Please point to examples of where/when Keynesian economics actually worked and was operated as intended.