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Getting Back to Full Employment: A Better Bargain for Working People Paperback – November 14, 2013
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About the Author
Dean Baker is the co-director of the Center for Economic and Policy Research (CEPR). He is the author of The End of Loser Liberalism: Making Markets Progressive. He also has a blog, "Beat the Press," where he discusses the media's coverage of economic issues. Jared Bernstein is a Senior Fellow at the Center on Budget and Policy Priorities, where he focuses on fiscal policies, income inequality and mobility, the analysis of financial and housing markets, and of course, full employment. From 2009 to 2011, Bernstein was the Chief Economist and Economic Adviser to Vice President Joe Biden, executive director of the White House Task Force on the Middle Class, and a member of President Obama’s economic team.
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If you have a capitalist society, you are not yoked necessarily to the idea that the current version of capitalism is the one that is necessary, right, and the only way possible. You can have capitalism with a human face where workers are not fighting for crumbs.
The point of this book is that the current upwardly distributing system is the logical conclusion to policy decisions that were made already. Different, more equitable policy decisions can be made. These include raiding the minimum wage, targeting a lower "Natural" unemployment level, and going for weak dollar policies to help boosts exports relative to imports.
This is a short book, basically a long white paper, but it is an important book. I suppose that is why they are distributing it at cost. I read it in an evening over the long weekend, and I nodded my head to their words. It needs to be in the hands of policy makers, as soon as possible.
A couple of notes. The only thing that troubles me is the idea of weakening the currency (70). It is not an issue that it should be done, but that others can make moves to offset your moves because currency's values are relative to each other. That and you don't want to be labeled a currency manipulator on President Romney's first day in office. The second thing that gets me is that there is a cover design implying an attack on a certain company that isn't followed through fully in the text. I kept waiting for it, and it never came. I have to admit to liking take-downs of the beast from Bensonville.