Dr. John Psarouthakis, Executive Editor of www.BusinessThinker.com, Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation, Adjunct Professor(ret.), Ross School of Business, University of Michigan.
With ideological shouters exhorting the citizenry toward one precipice on the left and another on the right, a polarized America seems poised for a rocky demise, probably in answer to a Last Days tweet. Worse, this critical mass appears sufficient to drag us all down. The debt bomb and the entitlement bomb, to say nothing of other bombs, wait for no man. Depending which true-believer cliff one leans toward, America is descending into either a communal hell of withering fortune and lost freedoms, or an eternal blue flame of capitalist greed. If you find the shouters outrageously out of touch (not in their Doomsday forecasts, but in their self-fulfilling gridlock), you obviously are not alone. So where can a reader turn to find a compelling centrist message for our generation, or even a little book of bull’s-eye polemic? Where is Frank Capra when you need him, someone who can make us believe in the American Dream even as the 21st Century limps on.
By Sandro Scocco is Chief Economist at the Stockholm-based think tank Arena Idé and has a background as the Chief Economist of the governmental research institute ITPS. He is also a former Director at the Labour Market Board and served during the 1990s as an adviser to several Swedish social democratic ministers.
From the Social Europe Journal, December 9, 2016
A popular narrative today is that low-income groups in the western world have fallen behind owing to jobs lost to new machines and to low-paid jobs overseas. Political populists like Trump or Le Pen have happily exploited this frustration with nostalgic, nationalistic and anti-free trade messages. A new study shows that this narrative has little support in historical trends.
Certainly, large groups have fallen behind in recent decades. But this is true not only of low-income groups but also of large parts of the middle class in many countries. Take, for example, those with higher education in the US; their real incomes have stagnated in the past 15 years. In the whole of the industrialised world median wage growth has fallen markedly behind GDP growth. By contrast, the top 1 percent have increased their income much faster than the rise in GDP and, in some countries, including the US and Sweden, they have more than doubled their income share.
So, there is a clear breeding ground for anger and frustration among broad groups, and not just among low-income earners, but is it really related to technology and trade?
By Daniel Griswold, Los Angeles Times
This Op-Ed article was published by the Los Angeles Times on August 1, 2016. To visit the article in the L.A. Times click on the link below:
See also “The Technology Imperative: What Jobs, Jobs, Jobs, Really Means in the 21st Century”, By John Psarouthakis, Gavdos Press, 2012
Foreign trade took a beating at both major party conventions, with speakers blaming free-trade agreements for all but wiping out U.S. manufacturing and eliminating millions of middle-class jobs. Both Donald Trump and Hillary Clinton have promised to renegotiate or abandon trade agreements with key U.S. trading partners such as Mexico and Canada. That would be a colossal mistake.
The number of manufacturing jobs in the United States has indeed been in a long decline since the late 1970s, but that disguises the true story of American manufacturing. Nostalgia for a bygone era blinds politicians and voters alike to the reality of a revitalized sector of the American economy that is thriving in a global market.