Thursday, December 01, 2005
Labor's Lost Story
From E. J. Dionne Jr. - washingtonpost.com
Decades ago, Walter Reuther, the head of the United Auto Workers union, was taken on a tour of an automated factory by a Ford Motor Co. executive. Somewhat gleefully, the Ford honcho told the legendary union leader: "You know, not one of these machines pays dues to the UAW." To which Reuther snapped: "And not one of them buys new Ford cars, either."
Capitalism, all by itself, would never have achieved the rising living standards that have been the pride of the United States. For example, the rules enforced by the National Labor Relations Board made it possible for Reuther's union to organize by protecting workers' rights. And, cheap 30-year mortgages, which became the norm because of Federal Housing Administration guarantees, created a nation of homeowners.
Few would embrace capitalism's innovations, such as offshoring jobs, if the system's tendency toward creative destruction was not balanced by public innovations to spread the bounty and protect millions from being injured by change.
Currently, as medical costs rise, more Americans will need government help and more employers will need to offload the costs of medical insurance to avoid bankruptcy.
Editor's Note...Don't forget that lazze faire capitalism thriving under the reign of a series of Republican presidents finally failed with the 1929 Stock Market crash and resulting depression. Things were so bad that the U.S. was ripe for a Fascist or Communist revolution. But, Democracy and capitalism were only saved by government intervention in the form of FDR's 'New Deal'.
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From E. J. Dionne Jr. - washingtonpost.com
Decades ago, Walter Reuther, the head of the United Auto Workers union, was taken on a tour of an automated factory by a Ford Motor Co. executive. Somewhat gleefully, the Ford honcho told the legendary union leader: "You know, not one of these machines pays dues to the UAW." To which Reuther snapped: "And not one of them buys new Ford cars, either."
Capitalism, all by itself, would never have achieved the rising living standards that have been the pride of the United States. For example, the rules enforced by the National Labor Relations Board made it possible for Reuther's union to organize by protecting workers' rights. And, cheap 30-year mortgages, which became the norm because of Federal Housing Administration guarantees, created a nation of homeowners.
Few would embrace capitalism's innovations, such as offshoring jobs, if the system's tendency toward creative destruction was not balanced by public innovations to spread the bounty and protect millions from being injured by change.
Currently, as medical costs rise, more Americans will need government help and more employers will need to offload the costs of medical insurance to avoid bankruptcy.
Editor's Note...Don't forget that lazze faire capitalism thriving under the reign of a series of Republican presidents finally failed with the 1929 Stock Market crash and resulting depression. Things were so bad that the U.S. was ripe for a Fascist or Communist revolution. But, Democracy and capitalism were only saved by government intervention in the form of FDR's 'New Deal'.
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