Friday, February 15, 2008

Recession, the Working Class, and Real Stimulus

For working people, the long-term trend in the US has been toward greater inequality in wages, less job security, fewer pensions, and fewer people with healthcare. All these long-term trends are being further aggravated by the economic crisis the country is currently going through. How does this crisis manifest itself?

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1 comment:

Harold said...

I'd really like to say that it manifests itself in growing realization among the working class that capitalism is not sustainable, but we're not there yet.

Unfortunately, it manifests itself in increasing unemployment numbers, corporations taking more drastic measures to outsource labor, massive layoffs, rising cost of living, inflation, and all sorts of other terrible conditions that make working class people suffer.

Meanwhile, CEO's are still taking home record salaries.