Tuesday, November 3, 2009
Why the Crisis Isn't Going Away
Why the Crisis Isn't Going Away By Mike Whitney
This is the kind of common sense solution we need to hear more of:
" "Stephen Mihm again: The government - or what Minsky liked to call 'Big Government' - should become the 'employer of last resort,' he said, offering a job to anyone who wanted one at a set minimum wage. It would be paid to workers who would supply child care, clean streets, and provide services that would give taxpayers a visible return on their dollars. In being available to everyone, it would be even more ambitious than the New Deal, sharply reducing the welfare rolls by guaranteeing a job for anyone who was able to work. Such a program would not only help the poor and unskilled, he believed, but would put a floor beneath everyone else's wages too, preventing salaries of more skilled workers from falling too precipitously, and sending benefits up the socioeconomic ladder. ("Why Capitalism Fails, by Stephen Mihm, Boston Globe)"
Here's a map that shows the hardest hit areas: