2008 makes for a sad story, and in 2009, the working class will begin really paying for it. Some of the worst to be affected will be young unskilled workers; cleaners, shop-workers and caterers, like myself. Minimum wage workers at the best of times, we have, during the period of boom (which apparently was the last 10 years, although no one told us) eked out an existence, hovering from one place to the next for as long as moral holds out. Most I have worked with were young, often migrants, demoralised but unorganised and so usually without contracts of employment and subject to very poor working conditions.
Jan 10 2009
Oct 24 2008
Man oh man, if there ever was a prime example of a revelation of the greatest flaw in libertarian economic theory, it had to be Alan Greenspan’s speech. For those not in the know, the former Federal Reserve Chairman spoke before a Congressional committee yesterday. Long one of the grand proponents of laissez fair capitalism, his decisions, ironically, probably has lead to the complete discrediting of such economics.
Aug 19 2008
For anyone whose read my pieces in the past, knows that I hold a certain disdain towards former Reagan White House OMB Associate Director/conservative-libertarian Ayn Rand acolyte Larry Kudlow. It’s nothing personal against the guy, it’s his ideas and economic policy objectives that I find fault with. For the past couple of months, he’s been going on about this is the “Goldilocks economy.” Essentially, that we’re worrying about nothing because one bad economic indicator is being offset by a good one (mind you, he’s often just used productivity as that one). Well today, despite his claims that all is almost well, we got some news that just proves Larry Kudlow wrong!