Many may want to believe the president stating that the economy will surge as we go back to work. Here is the truth. The old economy is dead. And the new one will shock many as the efficiency of capitalism displaces and impoverish millions.
The New Economy will be difficult
Coronavirus created has created a new economic paradigm. It forced corporations into a proof of concept that could only be done in a pandemic. A complete restructuring of the United States’ economy will occur, not because it has to in the long term, but because this pandemic would have forced certain changes that proved more efficient.
The one thing about capitalism is that it does seek maximum efficiency from society to ensure every increasing growth and profit for the few, read shareholders and corporate executive, Inasmuch as workers, consumers, and the environment are irreplaceable stakeholders, they are only valued a whatever cost they are able to get away with.
It is time that Americans start to heed the reality upon us. If we are not engaged now to ensure a new social safety net that takes the new economy and its realities into account, the middle-class as we know it will cease to exist.
Please listen to the entire video. I shortened it substantially from Friday’s show. The concepts in it is well worth the listen.
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Amen, brother! Very powerful parsing of the problems of capitalism.
I remember a recent glut of employed workers and reasonable wages, currently, I’m seeing a 10 – 15% drop in wages.
So, my nearly 40 years of experience is worth essentially the same as a kid right out of school.
That’ll self-correct quickly, as experience against zero experience wins for more senior positions, but it leaves a lot of just getting to middle class SOL.
Having sailed on the USS SOL, that isn’t an acceptable voyage, assuming the Commandeer in Thief doesn’t sink every damned thing in his grab for everything, screw anyone not him.
Excellent, thought-provoking analysis!