American Economic Ills and Possible Solutions

Paper Summary:

This paper summarizes and compares the views of Robert Kuttner in "Everything for Sale" (1998), Robert Reich in "The Work of Nations" (1991) and Jeffrey Madrick in "The End of Affluence" (1995) concerning the changes which have transformed the American economy during the past 25 years such as issues such as deregulation and privatization. It examines the resulting problems, their causes and the possible solutions they each offer, including the role of corporations, government, unions, workers and economic and/or social policies in correcting these problems.

From the Paper:

"Kuttner thinks unions perform a positive role in checking unrestrained management power and in furthering productive efficiency as well as worker welfare, but he offers few suggestions as to how unions can be revived. He would use tax policy to reward corporations which have progressive labor policies. He says that "'participatory inequality' is accelerating and is highly skewed by social class" (p. 355). He is in favor of increasing the participation of the people in politics and community life but offers few concrete suggestions on how to realize this goal, other than that measures be adopted mandating "shorter hours, mandatory parental leave and paid child-care benefits" (p. 351). He advocates greater accountability of corporations, not only to shareholders, "but also to employees, communities and society as a whole" but offers little guidance on how to improve corporate governance (p. 190)."

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