The Bishop and the Butterfly: Murder, Politics, and the End of the Jazz Age
    trkingmomoe's picture

    The Economy Built Around Fear

    Krugman in today's NY Times Op Ed page writes about the fear economy.

    http://www.nytimes.com/2013/12/27/opinion/krugman-the-fear-economy.html?smid=tw-NytimesKrugman&seid=auto&_r=1&

    I have been thinking about the push back that is going to come from labor in this country.  Though Krugman does not go into that in his latest opinion.  He does lay out the incentives to cut unemployment benefits or the lack of will power to protect the unemployed.  If there is a weak job market, employers can pretty much call the shots on how much labor is paid and how they work them. Corporate profits benefits from a weak job market and most of the current politicians depend on the campaign money from corporations to pad their war chests in order to stay in office.

    The root of the fear ideology goes back to Milton Freeman and his Shock Doctrine that the GOP embraces.  The extreme right has been forcing their ideology hard during this economic crises.  Freeman's economy from the top down with the corporations supplying all the goods and services has failed.  So what is left? Plenty of fear and fear leads to discontent. 

    The generation that put the GOP in power with this ideology is now gone and has left the GOP with a shrinking base of religious zealots and the social politics of the deep south. The Democratic party has pulled to the right trying to get things done like pay bills and keep the lights on in government.  This has left a gaping hole for a labor movement to fill.  Women are a big part of the labor market and they are tired of being the GOP whipping post.  

    There has been a few voices emerge in Congress for the issues facing labor and the unemployed population in the past few election cycles.  Will labor continue to be afraid to organize in unions? Will labor move to form a labor party wing of the Democratic Party using votes to push issues to help labor?  Will women and minorities lead the country in this change because they are true outsiders in the oligarchy? I don't think labor is going to stay quiet too much longer.  Maybe the Democrats that are currently in office will start to focus on jobs and increase wages?  

    We have been in this depression since 2008 and that is a long time for the new under class.  Something is going to emerge from all the suffering. I think it is going to be a strong labor movement.  

    "We have nothing to fear but fear it self."  FDR