It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
New America Foundation's Barry Lynn & Philip Longman talk about monopolies, anti-trust and how that's killing job creation. One topic overlooked is massive consolidation. We've seen this many a time, large multinationals buy up the competition and then slash and burn the staff with massive layoffs and outsourcing. Right now we have AT&T buying T-Mobile and how many cannot find decent cell service for less than $100 a month?
Who Killed America's Job Machine?
Below is an excerpt from their article:
Others point to the diffusion of new technologies that reduce the number of workers needed to produce and sell manufactured products like cars and services like airline reservations. But throughout economic history, even as new technologies like the assembly line and the personal computer destroyed large numbers of jobs, they also empowered people to create new and different ones, often in greater numbers. Yet others blame foreign competition and offshoring, and point to all the jobs lost to China, India, or Mexico. Here, too, there is some truth. But U.S. governments have been liberalizing our trade laws for decades; although this has radically changed the type of jobs available to American workers—shifting vast chunks of the U.S. manufacturing sector overseas, for instance—there is little evidence that this has resulted in any lasting decline in the number of jobs in America.