[PEN-L:4677] Re: article on globalization

[eugenecoyle@xxxxxxxxxxx (Eugene P. Coyle)]

>Sorry if this is a repeat--the computer was down for a while.
>FOREIGN AFFAIRS for May/June has an interesting article by Ethan
>Kapstein, the Director of Studies at the Council on Foreign Relations:
>"Workers and the World Economy," discussing sources of the economic crisis
>facing workers, and the government abdication of responsibility.
>     "The world may be moving inexorably toward one of those tragic
>moments that will lead future historians to ask, why was nothing done in time?
>Were the economic and policy elites unaware of the profound disruption that
>economic and technological change were causing working men and women?
>What prevented them from taking the steps necessary to prevent a global
>social crisis?" He cites Polanyi's "version of history" as having shaped the
>vision of postwar leaders of government's role. He is unusual among those
>writing in mainstream publications in advocating public job creation, and
>seeing crime as related to labor's problems. ("Fully two percent of all
>working-age American men are behind bars.").
>June Zaccone (Emer., Hofstra University),  National Jobs for All Coalition,
>475 Riverside Drive, Suite 554, NY, NY 10115-0050; 212-870-3449
>JFAC

        Is the establishment waking up to its problem?  Page 1 of the Wall
Street Journal, June 12th, had its lead article headlined:  "Missing in
Action:  About a Million Men Have Left the Work Force in the Past Year Or
So."
        Although the article has a confused focus -- claiming that some of
the missing have dropped out because of generous pensions, etc.  while also
noting that many are discouraged -- and in part supports the WSJ argument
for Supply Side -- i. e. that there is slack in the economy and these
people could be put to work if only we'd unleash Capitalism -- it is also
front page recognition that there are a lot more unemployed than the BLS
Unemployment rate reports.