The stand-out national problem we have today is that in recent decades, profit sharing examples in industry have declined and fallen out of media attention. Profit sharing was commonplace in the first half of the 20th century, but several decades of strong post-World War II growth persuaded many American managers that regular wage and benefit increases could effectively share the wealth with the workforces.
If you live in Baltimore, or anywhere in the United States, you shouldn't be surprised by the anger, the poverty, the police violence, and the hopelessness. All you have to do is sing the national anthem, written after witnessing the bombardment of Baltimore Harbor by the British during the War of 1812.
The major reversal from deep decline to economic growth occurred despite Republican opposition to President Obama's proposals, repeated GOP threats to default on our debt obligations, and an incredibly harmful 16-day government shutdown. And not only have Republicans stood in the way of Democratic policies, but they're now attempting to take credit for the recovery itself.
While grading term papers in the undergraduate course I teach at USF, "From Slavery to Obama," I found myself watching the televised funeral of one the NYPD officers recently assassinated by an apparently deranged African-American man. The coincidence prompted me to reflect on the moral and political challenges confronting our nation as we commence the new year of 2015.
The task before us in 2014 is nothing less than to find a route back to generalized prosperity amid the wreckage left in place by the collapse of the Reagan growth model and the rise of the globalized economy. The debate now underway about the relationship between full employment and income inequality is vital because progressives have to find -- and find quickly -- a set of economic policies that can credibly refute the sustained attempt by the GOP to take us back to the future. From conservative circles, we now face a coordinated campaign to intensify income inequality, to erode the welfare safety net, to undermine public services and to weaken still further already weak labor unions. For moral as well as for economic reasons, progressives have to challenge this conservative renaissance by developing a political program that explicitly and proudly combines job creation and inequality reduction, one that insists on greater income equality as the route to full employment.