For Multinationals, U.S. Wages, and Workers, No Longer Key to Profits

[marmar]

from In These Times:



For Multinationals, U.S. Wages, and Workers, No Longer Key to Profits

Friday
July 30
2:15 pm

By Roger Bybee


When millions of American workers are facing severe hardship, driving our strongest companies with the best-paying jobs overseas certainly won't help. ... The ... U.S. cannot rest on past success and take its multinationals for granted. Policy makers must partner with business leaders to craft policies aimed at sustaining an environment in which U.S. multinationals can thrive...
—from "The Global Jobs Competition Heats Up" (Wall Street Journal, July 1) by Martin Bailey, Matthew Slaughter, and Laura D'Andrea Tyson

* * * * *

The notion that the U.S. government has been "taking its multinationals for granted" and "driving them overseas" is certainly a novel proposition, coming after three decades in which federal policy has been more closely aligned than ever with the demands of these huge global corporations.

It is particularly revealing that this urgent concern is being expressed by Laura D'Andrea Tyson, a top economic advisor to President Bill Clinton and an influential voice in Democratic policy circles. Clinton's notable achievements included the passage of the North American Free Trade Agreement (job toll: over one million US jobs transplanted to Mexico and counting) normalization of trade relations with China, and China's admission to the World Trade Organization (2.2 million jobs lost and rising).

Yet Tyson and her colleagues are advancing this argument for more solicitous treatment of multinational corporations at a particularly bizarre moment: Corporate profits are skyrocketing, employment remains sharply reduced with devastating human costs, and wages represent a record-low share of national income. ..........(more)

The complete piece is at: http://www.inthesetimes.com/working/entry/6277/more_compassion_needed_for_multinationals_at_time_of_high_profits_no_j

[WinkyDink]

1. That's how the shills keep their own multi-millions.

[marmar]

2. Indeed.

The American Kleptocracy.

[closeupready]

5. Yes, bingo! Posts like this re-ignite my hope for American voters

that perhaps they are eventually all going to catch on to the DLC's lies and self-serving acts.

[inna]

3. Meanwhile... More "Free Trade" Agreements to come...

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=389&topic_id=8765585

[Blue_Tires]

4. ttt

[Vinnie From Indy]

6. Folks like Tyson and the rest of the DLC

have a simple outlook on life. It is "I've got mine and fuck the rest of you"! These folks simply do not care at all about the millions of Americans that have lost jobs because they get paid not to care.