Sep 13, 2013

Economy malfunction

Nobel laureate Joe Stiglitz doesn’t mince words:

Let us be clear: our economy is not working the way a well working economy should. We have vast unmet needs, but idle workers and machines. We have bridges that need repair, roads and schools that need to be built. We have students that need a twenty-first century education, but we are laying off teachers. We have empty homes and homeless people. We have rich banks that are not lending to our small businesses, but are instead using their wealth and ingenuity to manipulate markets, and exploit working people with predatory lending.

Read excerpts from his speech at the AFL-CIO here.

1 Comment

  • As an ex-Republican, it’s hard to argue with that assessment. But who can fix this malfunction? What is the answer? In the cruelest of ironies, we have manufacturing jobs finally materializing in the US economy, yet amidst this jobless recovery, we are not training the workforce to be qualified to take those well-paid positions. The American dream has clearly turned into a nightmare for far too many people. When will we wake up? The priorities of Washington simply aren’t in synch with the reality facing the average American. They live in a cloistered world that does not know the struggle to find work, therefore their priorities are elsewhere. We must force their feet to the fire, to stop dancing on the head of a pin and fight the fire exhuming our house.