Get free daily email updates

Syndicate this site - RSS

Recent Posts

Blogger Menu

Click here to blog

FlashReport Weblog on California Politics

- Or -
Search blog archive

Error: Unable to create directory wp-content/uploads/2022/12. Is its parent directory writable by the server?

Government Unions and the Financialization of America

Financialization – “a pattern of accumulation in which profit making occurs increasingly through financial channels rather than through trade and commodity production.” – Greta Krippner, University of Michigan (sourceWikipedia)

If you want one word to describe the biggest threat to the American economy, “financialization” would be the prime candidate. This is a threat that has no ideology. The left tends to blame economic challenges on the excessive power of oligarchs. The libertarian right tends to blame economic challengeson excessive regulations emanating from oversized government. But financialization empowered the oligarchs. And financialization is the toxic remedy that has, for a time, enabled oversized government.

Krippner’s analysis of financialization goes beyond its obvious manifestations – the most obvious being the loophole that allows hedge fund managers to avoid payingordinary income tax on the billions in bonuses they earn when they get lucky placing bets with other people’s money. An excellent in-depth… Read More

Error: Unable to create directory wp-content/uploads/2022/12. Is its parent directory writable by the server?

The Hypocrisy of Public Sector Unions

During the industrial age, labor unions played a vital role in protecting the rights of workers. Skeptics may argue that enlightened management played an equally if not greater role, such as when Henry Ford famously raised the wages of his workers so they could afford to buy the cars they made, but few would argue that labor unions were of no benefit. Today, in the private sector, the labor movement still has a vital role to play. There may be vigorous debate regarding how private sector unions should be regulated and what restrictions should be placed on their activity, but again, few people would argue they should not exist.

Public sector unions are a completely different story.

The differences between public and private sector unions are well documented. They operate in monopolistic environments, in organizations that are funded through compulsory taxes. They elect their bosses. They operate the machinery of government and can use that power to intimidate their political opponents.

Despite these fundamental differences in how they operate, public unions benefit from the still common perception that they areindistinguishable from private unions, that… Read More