A Welcome Opine
Harold Meyerson seems to be a centrist minded opiner, his articles appearing frequently in the Washington Post. He is pretty good at laying the facts out there for the reader. Today, he warmed my heart with an article touching on the relationship between income inequality and globalisation.
He writes that even the "most ossified rightwing economists" acknowledges that globalisation is he major culprit to the loss of manufacturing jobs and stagnant/declining wages/income. Says the former Federal Reserve chairman calculated that 22-29 percent of all US jobs could potentially go overseas. That's 36M workers.
Further, he relates that 2/3rds of displaced mfctring workers took on new employment with wage reductions of 20% or more.
In referring to the early days of globalisation he notes that he has read "many commemorative editorials, columns and speeches in praise of NAFTA , and not one of them hs so much as mentioned the agreement's effect on US employment, wages or trade balance." He recalls that at a conference in Oct. a reporter asked the Commerce Secretary, Penny Pritzker, "And where has NAFTA not lived up to some of the hopes and promises?". Her reply, "I don't think about where NAFTA hasn't lived up." Meyerson writes that the trade deficit with Canada and Mexico has gone from $27B in 1993, the last pre-NAFTA year, to $181B in 2012.
He says that these free trade deals increase incomes for US investors but diminish the incomes of US workers, stating that "they worsen the very inequality against which the president rightly campaigns."
What is this, an opiner that offers a solution? He cites German trade policies, while having some advantage thru the euro currency, also requires its corporations to "give their employees a major say in their companies' investment decisions and by embraching a form of capitalism in which shareholders don't play a major role."
Imagine that? He wants some reform of the corporate business model. Hey, a big ole fat, me too!! But, alas, I must try to contact Meyerson and inform him that, while I like his matter-of-fact writing the wealthy/money influence/corpocracy will not just go along to get along in reforming the way corporations operate.
Any reform beyond the fringe will require access to Article V Convention (www.foavc.org) (www.conventionusa.org) , or abolish corporate personhood law (www.movetoamend.org).
Otherwise, we have the Corpocracy we deserve.