Doug Henwood quoting JK Galbraith article:
>
>
> Yet the blather over inflation obscures something important. We are
> enjoying, these days, full employment. Americans have jobs like
> rarely before in peacetime. They are making good money, and, with a
> higher minimum wage and rapidly growing earnedincome tax credits,
> even low-income working families are doing well. So are minorities.
> Black male joblessness has fallen to about 7.8 percentstill about
> double white rates but lower than at any time in thirty years.
The liberals accept 4.2 percent unemployment and call it full employment. They don't really go for equality only quasi equality. Plus Galbraith does not take into account those not counted as unemployed, those who are off the charts and tens of thousands of disabled people who would like to work. His book seemed more radical than this mushy Nation article. In the book he hounded on inequality being behind the undoing of the transfer state- has inequality disappeared?? Hell no but now he seems to be saying we're all back to being middle class Americans. I wonder what happened between then and now.
marta russell