Interestingly, the author blames mostly Labor for job loss in the steel industry. Nevermind a steel tariff that allowed the steel industry management to postpone hard decisions, much in the same way the ATSB propped up the airline industry with government credit subsidies after 9/11. (Note that Southwest, with a solid business model and competitive fares, never received a government bailout. Of course, since their workers are non-union, they are able to keep costs lower.)The truth of the matter is the current administration is more interested in crony capitalism than it is in creating a competitive environment. (http://www.cnn.com/2004/US/10/04/corporate.taxes/index.html)As far as Labor goes, there's nothing wrong with the idea of earning a decent living and receiving health care in return for 40+ hours a week, especially when CEOs are earning 500 times what the average worker makes. (http://www.iccr.org/shareholder/proxy_book03/corp%20governance/paydisparity.htm)Let us not forget the 40-hour work week was brought to us by the Labor movement.
Post a Comment