Secure and improve American jobs
The way things are now, the rich are getting the lions share of the benefits of economic growth. But most of the labor force the people who run the machines,provide services, clean offices,and keep the economy going day to day are not sharing in the gains. Worse, theyre at constan risk of being downsized out of their jobs, or being forced to work longer hours to cover for downsized coworkers. Thats a big reason why the gap between rich and poor has widened in the last couple of decades. Because of globalization, were allowing American jobs to go overseas.Because of a focus on short-term gain and high stock returns, were encouraging corporations to pay lower wages and cut benefits. The measure of the economy shouldnt be stock prices it should be whether we have enough good jobs so that all Americans can earn a decent living.
What Should be Done?
Limit free trade agreements to protect American jobs. Use the tax code to discourage offshoring and other ways of moving jobs overseas. Use tax incentives to encourage companies provide benefits like health insurance to low-wage and part-time workers, particularly in service industries. Raise the minimum wage to help those at the low end of the income scale. Expand unemployment benefits to help workers through bad periods. Bolster unions to raise the wages of ordinary workers
Arguments For This Approach
First free trade helped move blue-collar manufacturing jobs overseas, and now white-collar jobs are following them. Weve got to protect our own. Theres a real human cost to an unrestrained free market system.Too many corporations eliminate jobs to meet Wall Streets demands to keep profits up, instead of looking for new markets or other kinds of savings. The fact that millions of low-income American families are just hanging on economically, even when times are good, is immoral. Other industrial nations have shown that its possible to maintain a successful capitalist system while keeping inequality in check.
Arguments Against This Approach
Sure, some jobs are moving abroad, but new jobs have always sprung up to replace them at home. In the long run free trade benefits everyone, overseas and at home. Its common sense for business to use the fewest workers possible to get the job done. Plus, its better for a business to cut some jobs or send some work overseas than to go under and put all the employees out of work. Raising the minimum wage just discourages businesses from hiring.The market should decide what a job is worth, not the government. Corporations have a responsibility to their stockholders to turn a profit. And the millions of ordinary people who buy stock for their retirement funds get a very real benefit from this.
Tags: Business, Economy, free market, Free Trade, Globalization, government, industry, inequality, jobs, low-income, minimum wage, recession, taxes, wages 
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