Monday, June 22, 2015

The Trade Bill Gets Even Worse; GOP Spits in Pope Francis's Eye | National Catholic Reporter

The Trade Bill Gets Even Worse; GOP Spits in Pope Francis's Eye | National Catholic Reporter by MSW. MGB: The canary in the coal mine on capitalism ruining workers lives to the point of revolution is the advancement of trade and the firing of workers whose jobs are not necessarily less productive, but less costly when currency markets and low cost country wages are included.  There are a few solutions. One is to actually tame trade rather than trying to win every point. It cannot happen as the Republicans are constitionally incapable of that kind of subtlety.  The second is a Marxian revolution.  People have been predicting one for over 150 years, but like the Rapture, it might actually occur. Three is to start with employee-ownership in the US (moving to full bore financial and consumer capitalism) and then bringing the same deal to overseas workers in the same company or in the supply chain - with the promise of wages that buy the same amount in the US and overseas, regardless of what the currency markets are doing.  I like option 3 myself. Option 1 only leads to option 2.  I suspect Pope Francis would agree with me if were briefed on it.

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