On the same day
Apple released its new super I-Pads this week it was given a free pass for its
practice of outsourcing millions of jobs.
None other than California’s
Democrat Lt. Gov. Gavin Newsome (former
mayor of San Francisco) proclaimed on his website that the new California
Economic Agenda does not intend “to recreate the past and restore the jobs lost
to global competition.”
[http://www.ltg.ca.gov/s_aneconomicandcompetitivnessagenda.html[
In a magisterial article also
out this week, Harvard’s professor of political economy, Benjamin M. Friedman, laments
the growing jobs gap but utters not a single word about deterring or correcting
Silicon Valley’s massive export of jobs to China. [see “Brave New Capitalists’
Paradise: The Jobs,” The New York Review
of Books, 11/7/20013]
Inevitability is the theme here; meaning
corporate success and its consequence are in the same category as an act of
god, like lightening or hurricanes. It’s
an inexact analogy since there always are alternatives to corporate lightening,
but obeisance is the thing. When
decisions were made in the private sector fifty years ago that would doom
Detroit, Cleveland and swaths of cities like Chicago and Los Angeles as U. S.
capitalists decided they could make more money in overseas manufacturing, it
was the worshipful obedience to such decisions that closed the deal and
destroyed whole cities. Memories are
soon lost, as in the old quip about the difference between de jure and de facto
segregation: de facto meant nobody did it. It was just modern theology at work.
This adds up to
the huge importance of the current prosecutions of corporate fraud and setting
in place tough regulations under the Dodd-Frank law. The dramatis persona embodies a great
sameness. Big money can make you look
the other way, especially if it’s the gods at work.
Such dollars
without sense show parallel dramas. Over the last fifty years it’s possible to
watch a whole generation of glittering universities rise and brilliant scholars
write their juried journal articles but still discover that the high school
dropout rate in many urban school districts hovers around 40 to 50 percent
today, just as it did in 1963. Articles
written back then always mentioned the family environment of low income people
whose limited vocabulary limits their children’s. Articles written today repeat the
observation. Fifty years of familiar
stories about kids getting on drugs, committing crimes, heading to prison. It was also fifty years without decent incomes for millions of families, who if they
had time and money to grow their vocabularies they could have advanced
themselves.
This
week’s Bureau of Labor Statistics (BLS) reports unemployment offers a continuing picture of the deepening disaster
for millions of our sisters and brothers:
“Despite 43 months of private-sector job growth, there were still 1.8
million fewer jobs on nonfarm payrolls and 1.3 million fewer jobs on private
payrolls in September than when the recession began in December 2007.”
The Times' Catherine Rampell writes that “the labor market lost, rather than gained, momentum over the summer, leaving us with less than a desirable cushion just as the government was shuttered in response to political shenanigans,” citing Diane Swonk, chief economist at Mesirow Financial about the new data from the BLS. [NY Times 10/22] Even before the
recent shutdown the federal government had the lowest number of civilian
employees on its payrolls since 1966, according to their delayed September jobs report.” The Center for Budget and Policy Priorities in Washington reported:
* The Labor Department’s most
comprehensive alternative unemployment rate measure — which includes people who
want to work but are discouraged from looking is still 4.8 percentage points
higher than at the start of the recession. By that measure, over 21
million
people are unemployed or underemployed….
* ….there were still 1.8 million
fewer jobs on nonfarm payrolls and 1.3 million fewer jobs on private payrolls
in September than when the recession began in December 2007.
* Nearly two-fifths (36.9 percent) of the 11.3
million people who are unemployed — 4.1 million people — have been looking for
work for 27 weeks or longer. These long-term unemployed represent 2.7
percent of the labor force. Before this recession, the previous highs for
these statistics over the past six decades were 26.0 percent and 2.6 percent, respectively,
in June 1983. [Oct 22 CBPP web]
This is huge and very bad news. Or is it just the gods
disposing?