Max, note that I myself underlined the possibility that the unemployment
effect from trade has been disguised by the growth of low productivity
service jobs for the working poor. Plus, I suggested that Joan Robinson
would have considered people so employed defacto unemployed, suggesting
that in her broad terms the unemployment rate in the US is quite high if
EPI data on the explosion of low wage and very low wage employment are to
be believed. So I am not on another planet. At any rate, where is your
>>>>>>>>
mbs: Very well-taken.
>>>>
estimate of how much globalisation, however defined, accounts for the
growth of low paying jobs as a percentage of total employment? Do you
accept Adrian Wood's econometric analysis?
>>>>
mbs: I haven't the foggiest idea.
>>>>>>>
However, have there not been positive effects on profitability and
therewith investment, growth and employment levels due to those cheap
imports bloating the trade deficit (which the US alone can sustain simply
by printing more IOUs)? Doesn't Robt Gordon suggest so much?
>>>>>>>>>>>>
profits sounds right, the other effects strike me as both not large, and not only obtainable thru trade openness. Though this isn't my bailiwick.
>>>>>>>
It seems to me that it is not analytical to separate the negative from the
positive effects of globalization or trade deficits, treated as an
unmitigated problem for US labor by Hoffa. Is that true? Haven't seen the
>>>>>>>
mbs: yup, though I think you're giving Junior a little too much credit for analytical breadth.
>>>>>>
argument made well at all. It seems to me that we are ever nearer a
complete disaster and delegitimation of labor if it follows this anti
globalization course. It's time to oust Sweeney, Hoffa and co before it is
too late.
Yours, Rakesh
>>>>>>>>>>>>>>>
I was following you until this last, which to me is not a legitimate extrapolation from what precedes it. Way off, in fact.
I find Hoffa's moves very encouraging at this point. We'll get him some culcha so he doesn't come off like a chauvinist slob, though I have to say all I know of his trade remarks is what I've heard from youse guys here on these lists. I'm giving you the benefit of the doubt.
There was all this talk about him combining with Sandra Feldman and bringing back the days of Meany. Highly unlikely. The teachers' unions are as embattled as any right now, what w/the uproar over the state of public education.
mbs