The AFL-CIO has an excellent series of infographics about what’s wrong with the U.S. economy, which I have put into this post. For those who have a little time, I link to four articles explaining the infographics. For those who have more time, I then link to background information on which the articles are based.
My only argument with the AFL-CIO is that they attribute bad economic policies exclusively on Republicans, while ignoring Wall Street Democrats such as Bill and Hillary Clinton, Barack Obama, Joe Biden, Chuck Schumer and Christopher Dodd.
I think the criticism of President George W. Bush is fully justified. But the path for Bush was cleared by President Bill Clinton, and President Barack Obama has followed in his footsteps. And no President rules the country alone. They could not have done what they did without the support, or acquiescence, of Democrats and Republicans in Congress.
Notice how far back the trend lines on the graphs go.
What’s Wrong With Our Economy? The Short Answer.
What’s Wrong With Our Economy? The Long Answer.
What Was Wrong With Our Economy Before the Crash of 2008?
How Do We Fix the U.S. Economy?
Prosperity Economics: Building an Economy for All by Jacob S. Hacker and Nate Loewenthal. The full report.
Prosperity Economics: Building an Economy for All by Jacob S. Hacker and Nate Leowenthal. An executive summary.
10 Ways to Rebuild the Middle Class for Hardworking Americans. Another worthwhile report.
Tags: AFL-CIO, Barack Obama, Declining wages, President Barack Obama, President George W. Bush, Prosperity Economics, Wages, Wall Street
Phil Ebersole's Blog 
December 3, 2014 at 2:21 pm |
I agree with the assessment, but I don’t see how this leads to fixing the problem. When buying something, the consumer has to make the choice to buy American. It may in fact be in the collective interest to buy American. If enough people did, it would necessitate American manufacturing jobs, reduce unemployment, drive wages up and turn around the drains of a poor economy on government purses.
But at that moment, the shopper is faced with $10 for some cheap imported piece of crap, or $12 or $15 for an American good. Holding onto an extra $2 or $5 in their own pocket? That’s tangible. That the choice impacts the economy as a whole? (1) Individually, it doesn’t; the only difference it can make is if we do it en masse. (2) It’s the government that experiences the benefits, and as a culture we don’t seem to take a sense of ownership in our government anymore. (3) Since the benefits are so removed and abstract from the shopper, they’re imperceptible. (4) For the minimum wage worker, lack of wealth necessitates buying cheaper or doing with.
The issue is not a failure to convey the ideas presented in these info graphics; I’ve seen these ideas numerous times before. The issue is the choice suggested at the end requires a personal sacrifice for the collective good. The background can be explained seven ways to Sunday, but it won’t get any better addressing the psychology of the choice. Fix that and we’ll get somewhere.
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December 3, 2014 at 2:42 pm |
Reblogged this on Citizens, not serfs.
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