What will take the place of the American consumer is the biggest question hanging over the world economy.
For the past decade and a half, U.S. consumption has been the principal driver of world economic growth, supplying demand for the fast-growing export economies of Asia, whose growth in turn increased demand for capital goods from Europe and Asia and for oil and commodities from Latin America, Africa, and the Persian Gulf. From 1997 to 2008, personal consumption as… more
THE JOBS DEFICIT
The Challenge Of Putting America Back To Work
TUESDAY, OCTOBER 20, 2009
12:00 P.M.
THE MAYFLOWER HOTEL
WASHINGTON, D.C.
KEYNOTE SPEECH
JARED BERNSTEIN
Chief Economist And Economic Policy Advisor To The Vice President
TO DOWNLOAD THE POWERPOINT SLIDES FOR THIS SPEECH, CLICK HERE.
What the Government Can Do to Better Promote Job Creation
by Timothy J. Bartik
Jobs: What Can We Do?
by James K. Galbraith
The Time Has Come for Direct Job Creation
by L. Randall Wray
The bursting of the housing and credit bubble has left the United States with a large debt overhang. America’s total debt is at a historical high of 373% of GDP and has more than doubled since 1980, when it stood at 161%. Household and financial sector debt has accounted for the lion’s share of the increase.
To read more, click on the slideshow below.
We are a full year removed from the September 15, 2008, bankruptcy
of Lehman Brothers, which sent the global financial system into a
tailspin, and yet just 10 days removed from one of the most dismal
unemployment reports in 80 years.
On the one hand, this is no
kind of celebratory one-year "anniversary," if you want to call it
that, and it was certainly no kind of Labor Day either. And they are
related.
Samuel Sherraden, a policy analyst at the nonpartisan New America Foundation in Washington, DC, said the industry is too new to benefit from job creation ...
and more »
Federal government purchases make up about 20% of the U.S. economy, yet the United States is almost alone among the major developed nations and China in not having a significant "buy domestic" government procurement program.
No single economic stimulus initiative would do more in the short and long term to resuscitate U.S. employment, especially manufacturing employment, and to materially reduce our economy-zapping massive trade deficit than a fair "buy American" program.
"The Koizumi reforms" was one of the portmanteau concepts
most commonly bandied about in Japanese political debates in the summer of 2009
as the parties geared up for the August election. Japan had in fact embarked on its
neo-liberal agenda of deregulation and privatization well before the
charismatic Mr. Koizumi laconically offered his "no gain without pain" recipes,
but it was pushed with most enthusiasm during his premiership from 2001 to 2006.
