Mergers temporarily strengthen labor’s bargaining chip. But in the long run, anti-monopoly experts say, corporate power crushes workers and consumers.
A deep dig into how the steel industry collapse affected hundreds of thousands of decently paid workers, contrasted with the surge of hospital and nursing home hiring that never matched former pay rates or union protections afforded steel workers.
The imbalances and inequities generated by the global economy cannot be tackled by protecting a few politically well-connected industries, using manifestly ridiculous national security considerations as an excuse. Such protectionism is a gimmick, not a serious agenda for trade reform.
Rich countries make money by owning things – physical and intellectual property – and setting global standards the rest of the world must adhere to. This also means an economic shift within these countries, away from well-paid, secure, skilled jobs in industry to a precarious, service-based economy.
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