China’s Currency Devaluation Protected Its Workers—Something the U.S. Doesn’t Bother With
In These Times
If high unemployment is one of the obstacles to more equitable growth, then the question is: how do we achieve full employment? There are four main ways. Each route faces substantial political opposition, both because of powerful interests that would be hurt by paying higher wages and because of popular prejudices that are persistently promoted in the media.
Output growth at the nation’s factories has [...] been weak since 2000. And though automation undoubtedly has displaced some workers in manufacturing, research suggests that persistent trade deficits and America’s decline as a location for production have accounted for much of the sector’s job loss. Boosting exports or reducing imports enough to bring trade into balance would generate 4.2 million jobs directly and another 2.1 million jobs indirectly.
Reader Comments- Mexico teachers; Social Security; Israel; Gen. Vo Nguyen Giap; McDonald's; Grad Student unions; Jobs; Unemployment;
Announcements- NYC - Full Employment and the Right to a Job: (Oct 18); Film showing - Anne Braden-Southern Patriot(Oct 24); D.C - Government Surveillance in Communities of Color; So.Calif - Government Spying, Immigrant Detention Policies(Nov 12); Louis E. Burnham Award Welcomes Applicants
Today in History-Salt of the Earth
Quote of the Day - Michelle Alexander: Dr. King was speaking out against the Vietnam War, condemning America's militarism and imperialism;
Reader's Comments: March on Washington; Black Unionists; Full Employment; Bradley Manning; Syria; Wal-Mart Workers Winning; U.S.'s 1 Percent So Much Richer; Visualization of Every Protest Since 1979;
Announcement - Memorial for Margrit Pittman - New York - Oct. 6
Incredibly, when King called for full employment in 1967, the national unemployment rate was under 4 percent. Flash forward to today: 56 consecutive months of unemployment above 7 percent, among African Americans above 13 percent, above 9 percent among Latinos. At our current rate of job creation, it would take another seven years to get the national unemployment rate down to 5 percent, where it was at the end of 2007.
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