W. E. Deming said that the aim of business needs to be, ,,,to become competitive and to stay in business, and to provide jobs.
In today’s NYT — “American business is about maximizing shareholder value,” said Allen Sinai, chief global economist at the research firm Decision Economics. “You basically don’t want workers. You hire less, and you try to find capital equipment to replace them.”
Six and a half million long-term unemployed represents those who had regular jobs, got dumped, and have remained dumped for six months or longer. The number who didn’t qualify for unemployment (self-employed, low wage, temps, and under-the-radar), and who were dumped before the recent numbers were collected, and those among the systemically unemployed that economists regard as “normal”, are not included in the count. To get a more accurate picture of the numbers, think about how many people you know who are among the uncounted and extrapolate accordingly.
When it’s your turn, who will speak-up? It won’t be American “business”.
