For corporate America, the Great Recession is over. For the American work force, itââ¬â¢s not. http://www.nytimes.com/2011/01/19/business/economy/19leonhardt.html?_r=1&src=twt&twt=nytimesbusiness In Germany and Canada, some companies and workers have averted layoffs by agreeing to cut everyoneââ¬â¢s hours and, thus, pay. In this country, average wages for the employed have risen faster than inflation since 2007, which is highly unusual for a downturn. Yet unemployment remains terribly high, and almost half of the unemployed have been out of work for at least six months. These are the people bearing the brunt of the downturn. Germanyââ¬â¢s job-sharing program ââ¬â known as ââ¬ÅKurzarbeit,ââ¬Â or short work ââ¬â has won praise from both conservative and liberal economists. Senator Jack Reed, Democrat of Rhode Island, has offered a bill that would encourage similar programs. So far, though, the White House has not pursued it aggressively. Perhaps Gene Sperling, the new director of the National Economic Council, can put it back on the agenda.
". As one bumper sticker says, âUnions: The folks who brought you the weekend.â ----------------------- Hate to break the news to ya but weekends were brought to you by the great depression when employers cut hours. Getting the weekend off was an adjustment period for employee's to learn to live on lower pay. Secondly, why is the Times writing about loss jobs when Obama is creating 2.5 million jobs? The Times should be writing about Obama resigning and opening a restaurant, this would create a few jobs.
From the article; The jobs slump has become too severe to disappear anytime soon. It will be part of the American economy and American politics for years to come. But there is no reason to treat it as a problem thatâs immune from solutions. For starters, it would be worth figuring out what other countries are doing right.
Instead of believing that other countries are doing something "right", it may be better to simply say that other countries are where the US was in the 1950's, 60's, 70's or 80's when things were "better" but those other countries are on the same path as the US. Those countries are the "before picture". The US is the "after picture". :eek:
Among other things, unions fought long, hard and well-documented battles for: the 40 hour workweek with overtime after that, weekends, holidays, a standard shift and workplace safety. Thanks, unions.
Where is China at, before or after the US? Take a look at Chile, it has the best economy. If it wasn't for that devastating quake that hit, the country would have no debt. As it is the debt is still minimal. Look at the states, which are doing the best? The ones with low debt, low taxes, and the least restrictive regulatory environment. What works is collective intelligence. Economies are too complicated for a government to competently control. The best thing to do is for the government to stay the hell out of the way and let individuals come up with their own solutions. Some will find the way out and others will follow.
very well said. I see 3 pictures, before the peak, at the peak and after the peak. US is after the peak and it peaked I think in 1999. BRIC nations are before the peak now and they will not see the same kind of peak that the US saw for many reasons. They have 0 innovation and the resources of earth are dwindling to support so many people with such high standard of living. These BRIC nations have become brilliant?? Not really, its a zero sum game that they are winning with little new value being added. The game is not too hard with most young have already moved from productive engineering related tasks to non productive tasks like law, entertainment and sports.
Who cares what trading is so long as you can make money. Much of productive part of the economy has been become too competitive due to outsourcing and automation. What good to be productive or do service when one has to live in van being useful in McJobs.
The game is not too hard with most young have already moved from productive engineering related tasks to non productive tasks like law, entertainment and sports. ------------------------ Maybe that's it. A large part of our economy is busy work. non productive. Like when you hire your unqualified nephew because he's family.