Suchergebnisse

THIS ARTICLE COMPARES CLINTON'S INVOLVEMENT IN THE MEXICAN PESO CRISIS TO LYNDON JOHNSON'S INVOLVEMENT IN VIETNAM. THE ARTICLE ALSO EXAMINES SOME PARALLELS BETWEEN THE TWO CRISES INCLUDING THE FACT THAT IN BOTH VIETMAN AND MEXICO THE AMERICAN PEOPLE HAVE BEEN ASSURED AT EACH STAGE THAT NEW POLICY WILL SOLVE THE PROBLEMS. THE NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA) IS ALSO BLAMED FOR CAUSING MUCH OF THE ECONOMIC WOES BROUGHT ON BY THE PESO CRISIS. THE ARTICLE CONCLUDES WITH A DISCUSSION OF THE U.S. GOVERNMENT'S ABANDONMENT OF THE WORKING CLASS AMERICAN.

IN THIS ARTICLE BILL CLINTON'S CHARGE THAT WE ARE WORKING HARDER FOR LESS WAS REPEATED AT CAMPAIGN BUS STOPS ALL THE WAY TO THE WHITE HOUSE. ECHOING A DECADE OF POLICY DEBATE AMONG DEMOCRATS, HE TALKED OF THE NEED FOR AMERICA TO SEEK A HIGH WAGE PATH THROUGH THE NEW COMPETITIVE GLOBAL MARKETPLACE. WITH HIS ELECTION, INDUSTRIAL POLICY HAS CREPT BACK ON THE NATIONAL AGENDA: THE QUESTION NOW IS NOT WHETHER THE GOVERNMENT SHOULD GUIDE THE PRIVATE SECTOR TO BECOME MORE COMPETITIVE, BUT HOW?

THE AUTHOR EXAMINES THE POSITION OF CAPITAL AND LABOR IN THE INCREASINGLY GLOBALIZED ECONOMY. AS CAPITAL HAS BECOME MORE MOBILE, LABOR HAS LOST MUCH OF ITS BARGAINING POWER AND POLITICAL LEVERAGE. IN ORDER TO PROSPER IN THIS GLOBAL ECONOMIC ENVIRONMENT, LABOR MUST BECOME INCREASINGLY INTERNATIONAL IN ITS PERSPECTIVE AND ACTIONS.

GIVEN THE HUGE BURDEN OF CORPORATE AND CONSUMER DEBT, THE NEXT ECONOMIC DOWNTURN COULD QUICKLY RAGE OUT OF CONTROL, PLUNGING THE USA AND THE REST OF THE WORLD INTO AN ECONOMIC NIGHTMARE. EVEN IF THAT NIGHTMARE CAN BE AVOIDED, AUSTERITY IS MORE LIKELY A FORMULA FOR AN ENDLESS FALL IN LIVING STANDARDS THAN A PRESCRIPTION FOR AMERICAN RECOVERY. IF THE USA ATTEMPTS TO CORRECT ITS BALANCE OF TRADE BY LOWERING WAGES AND CUTTING CONSUMPTION, RATHER THAN BY INCREASING EFFICIENCY AND EXPANDING PRODUCTION, THE RESULT WILL BE TO PERMANENTLY TURN THE USA INTO A LOW-WAGE PRODUCER.

THE COLD WAR IS OVER. THERE IS SIMPLY NO RATIONALE FOR A DEFENSE BUDGET OF THE SIZE NOW CONTEMPLATED BY THE BUSH ADMINISTRATION. GIVEN THE DRAMATIC CHANGE IN THE INTERNATIONAL POLITICAL CLIMATE, BUSH'S BUDGET IS COMPLETELY ISOLATED FROM REALITY.