economy | A World of Progress

The new totalitarianism

Free-market capitalism was supposed to save us from the tyranny of faceless apparatchiks. But that’s not what happened.

posted on: Jul 24, 2012 | author: sara robinson

The American economy has moved way beyond outsourcing abroad or even “in-sourcing.” Most big companies headquartered in America don’t send jobs overseas and don’t bring jobs here from abroad. That’s because most are no longer really “American” companies. They’ve become global networks that design, make, buy, and sell things wherever around the world it’s most profitable for them to do so.

posted on: Jul 23, 2012 | author: Robert Reich

So did Mitt Romney really ‘crea...

Mitt Romney says he should be president because he and his company Bain Capital created 100,000 jobs at Staples and “created jobs” at other companies that Bain took over. So … did Mitt Romney really “create jobs” at Staples? Or did he and Bain really just follow the Wal-Mart model, using the advantages that come with having large, national chains, putting a number of local, smaller businesses out of business, while shifting a lot of people into lower-paying jobs? Understanding the difference is important because Romney says he will help the country “create jobs” the way he helped “create jobs” at Staples.