Monday, November 15, 2004

The "ownership" economy
Go read this extremely disturbing article in Slate. What it details is nothing short of the squashing of the New Deal bargain and the rise of unfettered corporate profiteering, at the expense of the government and employees. And remember that when Bush talks about an "ownership society," he's referring to the idea of transferring all the risks inherent in capitalist society to the individual, and exempting businesses from any responsibility to their employees or to the greater good.

The idea of the "medical savings account," is just an appealing-sounding way of convincing you to pay for your own health costs while simultaneously enriching the investment companies who will handle the transactions. Absolved of any responsibility for providing health care or retirement benefits to employees, companies will continue to increase profit margins without simultaneously increasing wages or hiring more workers. And because Republicans now have their greedy little hands all over the levers of power in Washington, no one is going to do anything at all about it.

Welcome to the New Economy.


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