Thursday, March 7, 2013

Stocks Bullish while Labor Market Sags Pt.2

Second, high unemployment itself. Joblessness all but eliminates the bargaining power of most workers -- allowing    corporations to keep wages low. Public policies that might otherwise reduce unemployment -- a new WPA or CCC to hire the long-term unemployed, major investments in the nation's crumbling infrastructure -- have been rejected in favor of austerity economics. This also means higher profits, at least in the short run. - Robert Reich

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