7 Ways to Support the Real Job Creator: Main Street

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from YES! Magazine:



7 Ways to Support the Real Job Creator: Main Street
Turns out most job creation comes from the 99 percent, not the one percent.

by John Cavanagh, David Korten
posted Nov 29, 2011


If you’ve been following GOP debates lately, you’ve heard that Wall Street businesses are the real “job creators” of our economy, and that the best way to put Americans back to work is to remove all the troublesome fetters—like environmental and safety regulations, or taxes, or unionization rights for workers—that hold them back.

But Wall Street’s goal is to make money, not create jobs. Wall Street institutions view wages and worker benefits as costs to be minimized. Wall Street executives know that the most certain way to boost the share price of their company, and thereby pump up the value of their personal stock options, is to announce that thousands of people are to be laid off, their jobs eliminated or moved abroad.

Between 2000 and 2009, for example, U.S. transnational corporations, which employ roughly 20 percent of all U.S. workers, slashed their U.S. employment by 2.9 million even as they increased their overseas workforce by 2.4 million. The result was a significant loss of jobs nationally, as well as a net loss globally.

.....(snip).....

It turns out that most job creation in the United States is the result of Main Street innovations, not Wall Street machinations. In our new report, Jobs: A Main Street Fix for Wall Street’s Failure, we show that most jobs come from the 99 percent—and that the best way to support job creation is to support rights and protections for the 99 percent. ...........(more)

The complete piece is at: http://www.yesmagazine.org/new-economy/7-ways-to-support-the-real-job-creator-main-street

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