By Jay R. Mandle
This booklet addresses the troubles of readers who settle for some great benefits of globalization and technological switch, yet search to opposite the tendency towards source of revenue inequality that every produces. govt regulations can mitigate that consequence. yet rules to offset inequality should not insisted upon via the citizens as the public believes our procedure of non-public donations to political campaigns leads to the govt mostly serving the pursuits of the rich. Adopting a process of public investment of electoral campaigns is important if egalitarian monetary guidelines are to be followed.
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Extra info for Democracy, America, and the Age of Globalization
Those who replied 5, 6 or 7 were judged to be opposed and those who answered 4 were considered neutral. The data demonstrate a clear pattern. Throughout the entire period during which this question was asked, a remarkably stable plurality responded that the government should act to reduce income disparities. Almost one-half of those questioned during this thirty-two-year period favored such programs, while one-third opposed them. Women supported them more than did men, but even among the latter, those in favor exceeded those opposed.
Thurow is particularly incensed that the economics profession has failed to stress the need to provide compensation to the victims of progress while emphasizing the virtues of free trade. He writes that, “in practice the economics profession defends free trade even when it knows that the winners will not be compensating the losers. ”9 Survey data indicate that the American people are responding to globalization in precisely the way that Thurow suggests. According to Kenneth F. Scheve and Matthew J.
Only then can they retool in order to provide workers with the skills that are in increased demand in the labor market. Even so, it takes time 27 15:49 P1: JzG 9780521885898c02 CUNY1191/Mandle 978 0 521 88589 8 October 3, 2007 Democracy, America, and the Age of Globalization for an adequate supply of newly educated workers to make their presence felt. For these reasons, even under the best circumstances, rapid technological change can be expected to induce growing income inequality. Thus, it falls to the political process to provide counterweights to the growth in income disparities that are all too likely to appear in labor markets during periods of rapid technological change.