Mind the gaps

Posted: 21 January 2011 in Uncategorized
Tags: , , , , ,

The solution to the current problems of unemployment and inequality in the United States is not more education. It’s finding a way to close the gaps.

Nick Krafft, utilizing the work of Larry Mishel, argues against mainstream economists “of all stripes,” who see wage stagnation and unemployment stemming from a mismatch of jobs and skills, and who call for more education as the solution. For Krafft, the problems are caused by “a class gap and a power gap.”

Unemployment and stagnant wages are structural, but not in the sense that conservative neoclassical economics define it. They are a result of the capitalist power dynamics and employer relations in our society. Fiscal stimulus and education are both admirable goals, but we need radical changes to restore our economy’s long-term ability to create quality jobs.

Exactly! The United States does need better education and more jobs. But it also needs to change the fact that a small minority appropriates and receives the surplus, which has caused the growing gaps that created the problems of wage stagnation and unemployment in the first place.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s