Two Americas
Herbert Gans in the New York Times:
When the jobless recovery ends and the economy is restored to good health, today’s surplus will be reduced. New technology and the products and services that accompany it will create new jobs. But unless the economy itself changes, eventually many of these innovations may be turned over to machines or the jobs may be sent to lower-wage economies.In fact, if modern capitalism continues to eliminate as many jobs as it creates — or more jobs than it creates — future recoveries will not only add to the amount of surplus labor but will turn a growing proportion of workers into superfluous ones.What could be done to prevent such a future? America will have to finally get serious about
