Economic and political difficulties — especially issues of justice — are on my mind, as always. Guess I’ve been reading too many scary books about economics and the jobs outlook.
What is the outlook? In developing countries, manufacturing that’s always on the move, stalking the cheapest labor. In Western countries, an abundance of jobs for machines, robots and computers; for human beings, not so much.
Why do I have this sinking feeling that American politicians don’t understand the situation?
Today I wrote a comment on another blog that seems both concise and spot on (I say humbly). And so I’ll quote myself:
“Sustainability of Medicare and Social Security in the U.S. depends in large part on our capacity for intergenerational justice.
People in their teens, 20s and 30s are being fleeced. They’re overcharged for education that turns out to be worthless, leaving them in virtual debtors prison. The future seems to offer few jobs and meager income.
We need to forgive educational debt and create useful work. The free market will not or can not do it. Government will have to find a way.”
Like I say, too many scary books.
— John Hayden
- Robert Kuttner: Needed: A Mass Movement for College Debt Relief (huffingtonpost.com)
- Overdue Student Debtors Must Turn to Gold, Silver Bitcoin as Debt Hedge (prweb.com)
- Debt Collection Expert of Rapid Recovery Solution Says Student Debt Bubble Mirrors the Housing Bubble (prweb.com)
- The young, educated, and massively in debt college generation: Total student debt outstanding approaches $1.1 trillion. 65 percent of all outstanding student debt held by those 39 and younger. (mybudget360.com)
- 5000 years of debt (forexlive.com)
- Massive, open, online disruption (blogs.reuters.com)