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To a large degree I agree with him. He gets one radically wrong, though--unions. He's attributing to unions the post-war boom that was actually due to the US
by LorenPechtel 7mo ago
To a large degree I agree with him. He gets one radically wrong, though--unions. He's attributing to unions the post-war boom that was actually due to the US having the only industrialized economy that had not been smashed by the war. Effectively a monopoly--of course we did good. But the unions take credit for it.
And it's the very problem he's talking about that has caused the "decline" of the American worker--it's no longer a group selected from those in the best position, now it's a group of all.
Unfortunately, he's right about our economy lacking enough jobs for those without sufficient academic prowess, even though he's wrong about what became of those jobs. (Reality: I've seen it--over 20+ years I watched my former employer increase productivity per labor hour about 5x. We were growing, this didn't cause any layoffs. It was the machinery that mattered--jobs were moving from doing a somewhat skilled operation by hand to feeding a machine that could do better on standardized stuff. The skilled operations were mostly for customers that wanted oddball stuff, plus some of us whose job was making the hardware and software.)
- apothegm 7mo agoUnions were a big part of what kept the proceeds of that economic boom from accruing benefits almost exclusively to those already at the top. And helped sustain said boom by ensuring a much larger swath of the population had disposable income to grow a consumption economy.
- LorenPechtel 7mo agoUnions are very good at taking credit for things that would have happened anyway. In a competitive labor market the company that's too stingy can't find/keep workers. What unions are good at is preventing machinery replacing workers until the industry is so far behind that they fail.