Progressive Economics 101: A Living Wage by jamess receives KH Silver Pen Award

Progressive Economics 101: A Living Wage jamess is a recipient of Karita Hummer's Silver Pen Award for this very informative and helpful piece. cross-posted from Progressive Blue Blog http://www.eenrblog.com/showDiary.do?diaryId=3403 by: jamess Sat Jan 17, 2009 at 00:10:14 AM EST

"We stand for a living wage. Wages are subnormal if they fail to provide a living for those who devote their time and energy to industrial occupations. The monetary equivalent of a living wage varies according to local conditions, but must include: enough to secure the elements of a normal standard of living-- a standard high enough to make morality possible, to provide for education and recreation, to care for immature members of the family, to maintain the family during periods of sickness, and to permit of reasonable saving for old age." (emphasis added) Source: Theodore Roosevelt Nomination Acceptance Speech, 1912 -- Social and Industrial Justice to the Wage-Workers Teddy Roosevelt was one heck of a Progressive Republican! (Progressives today maybe, should revisit his "Square Deal", eh?)

Where There is a Will... There Will be a Living Wage http://www.youtube.com/watch?v... from voiceless workers (barely surviving on minimum wages): "We're sitting there thinking, 'you appreciate us' but all you're doing is giving us more work, more work -- NO Money; Where's the Appreciation? We want to SEE the Appreciation -- not just hear about it. ... is like [were] the 'Invisible People': 'Come on, Do your job, Disappear'. That's what I think they want from us: DO your Job, Disappear -- We don't want to see you. We don't want to hear you. We don't want to know you exist. Just do what we want you to do, and disappear " Thom Hartmann - Wal-Mart And The Living Wage - Jan 16, 2009 http://www.youtube.com/watch?v... Wal-mart Worker Sarah, just explained how she had to go to a Food Bank this year -- just to be able to "afford a Christmas" for her kids. Even though she works Full-time, she still can not "afford" to buy the Health Insurance "Benefit" that Wal-mart "offers" to sell to its employees. Sarah has had to rely on other forms of public assistance too, like food stamps, just to make ends meet ... Thom Hartmann: You know what this means, that the tax-payers of the United States are subsidizing Wal-mart, basically. They're providing Wal-mart with a cheap labor pool, by providing these subsidies. And yet on the other hand if we were to say 'OK were going do away with all these social safety net programs' -- which is what the conservatives want -- then you would really be in desperate straits, not to say you're not already. (emphasis added) Thom continues with the Hartmann "Living Wage" rant: It's just like Republican President Teddy Roosevelt argued for: "if somebody going to work a 40 hours a week they should be able to, Put their kids through school, they should be able to have and keep their home, they should be able to take a vacation, they should be able to cover 100% of their medical expenses, without any problems, and they should be able to set aside enough, that they will be able to retire with grace and dignity. THAT is the American Dream ... The American Dream IS having a Living Wage. (and I'm telling ya, 28 years of Republican have stolen it from us!)" (emphasis added) A Living Wage, besides bringing great benefits to those of us who might get one someday, a Living Wage is very likely to be the key to the kick-starting that "Demand-Side" Economic Engine too! Happy Workers ... spend money ... CNBC Clip: Former Secretary of Labor, Robert Reich making a great argument for Demand Side solutions. (Sorry for the neocon Norquist's counterpoints -- when will those Supply-siders just "disappear" themselves?) That link goes to the CNBC segment: Markets, Economy & Taxes - Thurs. Jan. 15, 2009 Discussing the markets, the economy and taxes with Robert Reich, former labor secretary and UC Berkeley professor, and Grover Norquist, of Americans for Tax Reform Here is the take-away point from Robert Reich segment (at least the one I walked away with) [Time Mark: 4:40]: Kudlow: "... Robert Reich, what do you think of the stimulus package?" Robert Reich: "Well I think its the only option we have. Tax cuts did not work. Supply-side Economics has proven itself to be absolutely fallacious. The Fed has tried to do everything it can possibly do, to increase the Money Supply, reduce Interest Rates, that hasn't work. I think were going back to Richard Nixon in a way when he said: 'Were all Keynesian now', and we are going to have to spend our way out of this. But seriously Larry, and Mr Norquist ... I think that the issue here, really is the GAP between the Productive Capacity of the Economy, which is quite high, relative to what the DEMAND for the Goods and Services in the Economy is, and that's pretty, pretty low. Now that Gap, unless it is overcome, that shortcoming, is going to lead to more job losses, and a negative, vicious cycle. SO the Govt has GOT to spend in order to get us back to us back NEAR our Production Capacity." (emphasis added) Soooo ... unless "we raise Demand to meet what were capable of producing as a Nation", we will stay mired in that "downward spiral" of dwindling sales, more job layoffs, and even less Demand for products -- the Economic Demand that is needed, to ultimately turn things around ... someday. What is the quickest way to "Raise Demand" in an Economy? How about giving Workers a "Living Wage", and a boost in their sense of confidence and security, too! (BTW this method of "boosting Demand" lasts much longer than the short term boosts, gained by momentary Tax Cuts. ... Just ask Teddy R.) Or just ask Secretary Reich for his estimates on the the dire straits of ignoring of the Demand-Side of the Equation: Robert Reich gave his estimates in a recent blog-entry "Stimulus Plan: The Need and Size": "In my judgment, this will require a stimulus of about 6 and a half percent of gross domestic product, or a total of some $900 billion, spread over two years. That's my estimate for the shortfall in private demand. But the federal government should stand ready to spend larger sums if necessary to get the economy back on track toward full capacity. The danger is not that the government will do too much; the danger is that it will do too little, too late. Without such action, I estimate that another 3 million jobs will be lost in 2009, unemployment will rise to 10 percent of the workforce by the end of this year, and under-employment - including people working part-time who would rather be working full time, and those too discouraged even to look for work - will reach 15 percent. Without federal action, next year could be even worse." (emphasis added) http://www.counterpunch.org/wh... If People, like Sarah, and all the other full time Wal-mart workers, don't have enough money to pay their bills, and support their families, EXACTLY WHO is going to buy all those Goods and Services, that Corporate America is SO keen on Cranking out, year after year? Without a "Living Wage" for ALL Workers, how can an Economy ever reach that optimal goal of "running on All Cylinders"? SO How do we siphon some of that "Productive Capacity", anyways, so that Companies can "afford" to pay a "Living Wage"? How about tapping some of those "renewal resources," which have the Productive Potential, of never running out? (Click for Larger Image) Yet the Earth's capacity to grow food and forests, and to produce energy from sources such as switch grass and algae, is far greater than our total supply of nonrenewable resources. Enough sunlight strikes the Earth's surface in one day to power civilization for a year. And virtually every material we need - from plastic composites that are stronger and lighter than steel to filaments that conduct light pulses - can be derived from plants. It's all ours for the growing if we are willing to make the needed cultural adjustments, such as voluntary population reduction and investments in sustainable systems. (emphasis added) Source: SFGate -- Go green: Earth's future depends on it, Philip S. Wenz -- Jan 16, 2009 Afterall, All that Future potential is STILL just waiting to be Built! (and designed, and invented, and marketed) Hopefully those building it this time, will get paid, the true value of what their work is worth! Corporate CEO's need to realize: "Without Workers there IS No Bottom Line!" Without a strong Demand for all those Goods and Services, there is "No Rising Tide, to lift all Boats" ...

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