http://liberalvaluesblog.com/?p=11024 Defending Liberty and Enlightened Thought Wed, 10 Feb 2010 01:11:16 -0500 http://wordpress.org/?v=abc hourly 1 http://liberalvaluesblog.com/?p=11024&cpage=1#comment-226745 Spud Roberts Tue, 10 Nov 2009 20:11:56 +0000 http://liberalvaluesblog.com/?p=11024#comment-226745 <span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">» Obama and Unemployment Liberal Values http://tinyurl.com/ybuowku</span></span> » Obama and Unemployment Liberal Values http://tinyurl.com/ybuowku

]]> http://liberalvaluesblog.com/?p=11024&cpage=1#comment-226726 Eclectic Radical Tue, 10 Nov 2009 07:03:29 +0000 http://liberalvaluesblog.com/?p=11024#comment-226726 The 'jobless recovery' is one of the ugliest economic phenomena related to capitalism.   The same thing happened in the old British Empire. As more and more industry was outsourced to the colonies or reduced through trade with other countries, the British economy itself contracted. They becme a financial/service based economy and stopped being an industrial/commercial economy. This increased the rich and poor divide, guaranteed more of the jobs available were of less economic value and greater disposability, and made the British economy dependent on its trade partners and colonies. When WWII broke out, the British were badly handicapped in fighting it because once their access to their colonies was severed their industrial base was crippled.   After the war, it was necessary for the British to reinvest in industry (with mixed success) and to vastly expand the welfare state to support the new economy. This has had mixed economic results. It's one of the reasons for the 'special relationship' between the US and the UK post-WWII, for many years during and after the war the UK was dependent on the US for both nearly all resources and many finished goods.   We, as it stands now, are on track for our own 'special relationship' with China if we don't do something about it. That will require government action, because the corporate world is getting fat off the status quo.     The ‘jobless recovery’ is one of the ugliest economic phenomena related to capitalism.
 
The same thing happened in the old British Empire. As more and more industry was outsourced to the colonies or reduced through trade with other countries, the British economy itself contracted. They becme a financial/service based economy and stopped being an industrial/commercial economy. This increased the rich and poor divide, guaranteed more of the jobs available were of less economic value and greater disposability, and made the British economy dependent on its trade partners and colonies. When WWII broke out, the British were badly handicapped in fighting it because once their access to their colonies was severed their industrial base was crippled.
 
After the war, it was necessary for the British to reinvest in industry (with mixed success) and to vastly expand the welfare state to support the new economy. This has had mixed economic results. It’s one of the reasons for the
’special relationship’ between the US and the UK post-WWII, for many years during and after the war the UK was dependent on the US for both nearly all resources and many finished goods.
 
We, as it stands now, are on track for our own ’special relationship’ with China if we don’t do something about it. That will require government action, because the corporate world is getting fat off the status quo.
 
 

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