Jeff Faux: "The Servant Economy"
http://thedianerehmshow.org/shows/2012-07-17/jeff-faux-servant-economy
Jeff Faux of the Economic Policy Institute argues Americans are in denial. Everyone knows, he says, but no one faces up to the fact that the United States can no longer afford to have subsidized unregulated markets, be the world’s global power and provide a steadily rising standard of living. One of these is possible, maybe two, but not all three, according to Faux. No group -- and certainly no politician of either party -- is addressing this new reality, he contends. Despite public posturing to the contrary, it’s America's middle class that will be sacrificed on this current path. Please join us for a conversation with Jeff Faux on why he believes we’re moving from a service to a servant economy.
Guests
Jeff Faux
founding president and distinguished fellow at the Economic Policy Institute.
Comments
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It's not a cover up for them. Labeling it as behavior doesn't diminish or minimize the importance of restraint and sound judgment on the part of the wealthy.
I believe that what your guest referrers as "elite" is not the wealthiest of our country, but the current corporate leaders (CEO's and board members of company's) . These are the people that have the biggest incentives to think short term and have the most to gain from this. A CEO whose net worth may be in the tens of millions can double or tripe their net worth by collecting a quarterly bonus. As an ex Motorola employee I saw our CEO at the time making all sorts of accounting-driving schemes such as layoffs, quality cost cutting and extensive lobbing to get tax benefits that resulted in a "fake" profit and earned him a bonus that had nothing to do with having innovative and better products. when he finally left the company, again he collected a bonus. However, our company went from 150K employees to less than 80K.
I don't understand why it is consistently said that taxes will decrease jobs. From what I understand taxes would direct money into business investment in order to differ those same taxes there by creating more wealth and more jobs.
Dan Bethel
"Wages" and "Job Security" presuppose an employee-employer relationship.
We should educate and encourage more people to be self-employed.
(It's not behavior it more a narrative -- a way of life -- control...
Remember Leona Helmsley, or The Trump brand: "Your're Fired." America loves this stuff -- Yankee Doodle Dandy -- alwasy have and alwasys will... .)
Boss Man: "If you're going to the bathroom -- go ahead and take your soda and nab break now and get back -- we got work to do. "
"On your way home today, do me a favor and drop these off at the video store."
Fox News and conservative radio has been become the propaganda voice of the Fourth Reich.
Our only way forward that I can see involves increasing our productive capacity to the point where there is so much that trying to keep people from having enough not to be afraid will look _silly_. Nanotech and biotech, harnessed to human needs, will do more for us than anyone's schemes for dividing a too-small pie.
Note as well that when increased productivity doesn't show up as higher wages, but is instead siphoned untowardly upward, the taxes on wages that support Social Security and Medicare don't increase...we are more than ten times as productive, per worker, than we were in the '30s, so the increase (twofold?) in the beneficiaries/worker shouldn't matter that much.
You'd think we'd treat each other better, if only as a matter of national pride.
It's always easier to point out what others should be doing to improve your life than it is to look in the mirror & ask how you can improve your life yourself. I and others like me, will never agree to taking from others what I can earn myself. Our society is falling apart because individuals refuse to take responsibility for themselves; it will fall faster the more policy that is enacted to redistribute wealth to those on the lower end of wages. As that lower group gets more & more by exerting less & less effort the group will grow beyond a sustainable level. It's a sad place we live in, but it's not the wealthy & successful who are to blame.
On the question of whether taxing the income of business executives discourages investment, I have never seen a case made that this is valid. Based on my experience as a business manager of an I pendent division of a
Company, there is no correlation between investment and tax rates. In four decades in business, I have found no connection and no businessman I have ever met believes in a connection. This is a deception promoted by powerful people who just don't want to pay more taxes.
What a silly comment for the economist to make. No one looked forward to the future after Ronald Reagan? Seriously? This guy is actually being taken seriously by anyone???
Oh now the republicans want to go back to the 19th century. This guy is being given national air time? You have got to be kidding!!!
This was probably one of the best shows you have had in a very long time. Thank you so much for having Jeff Faux on!
Getting the money out of Politics, hah! I just heard Sen. MCConnel (R_KY) state yesterday that the money is not a problem. SCOTUS Citizen United would support the R-Brand position on this. Sen Burr (R_NC) said back in the Spring 2012 that he does not even see insider trading in the DC legislature as a problem... . We all have our beliefs, eh... .
Some wish to take American back to the 1776 too... .the high sherriff rules the land... .they are sentimentalist they wear tricorn hats... .mantra: don't tread on me... .and no taxation what-so-ever... .lazy fair for all
If everyone is self employed it will be like selling to the choir. In other words, America will need to dumb down to a system similar to the Amish in Pennsylvania. Fine for some people. But it is total socialism.
This master-servant relationship is already in the process of being inculcated in the service industry workforce, where "Excellence" training for minimum wage service workers has come to mean projecting a butler's attitude toward customers. In my nonprofit customer service workplace, 20 somethings who would like to have better jobs work part time at several of these little jobs without benefits for slightly over minimum wage. During recent training, the model that was held before us was that we should act like employees of a 5-star hotel. Never mind that the housekeepers are union, making a good salary with benefits. I am 64, had two good careers, and working part time for pocket money. In the 1980's corporations were doing "excellence" seminars -- but for people who were making $60K+ a year, with employer-paid health, dental, and life insurance, a year of maternity leave with full pay, and other benefits that are unimaginable today for most people. It's like the US elite has decided that their country is a low yield enterprise and are holding a fire sale here. Shame on them and on ordinary Americans who go along.
health care insurance for all would help the entrepreneurial society in America
Patsy N.- in other words, all the labor force must be interchangeable as body servants to keep renumeration and critique down. Here is a woman (the caller) who needs a few weeks scrubbing motel toilets.
Romney's been preaching to the flock on Faux News lately, eh... . building the R-brand, reminds me of Palin... . except he's running for POTUS
Diane, your show on "The Servant Economy" was informative but the most disturbing show I've heard in ages. I would like to suggest that you have a followup show with several experts from the left and right to review and discuss this book. Questions in my mind: are the author's points valid? what action can we take to change the country's direction?
Diane, in my view this is one of the best interview programs you have done. Unlike all other economists, journalists and politicians Jeff talks about the real cause not the effects. All others only talk about the effects and place the blame on the middle class when it is all about totalitarianism of the 2% elite.
Job-killing taxes is the mantra of Grover Norquist types and become a plank in the R-Brand politics. Remember, paraphrased here: "Reagan never raised taxes..." according to the Cantor office offered on national television. they love this stuff, they make a "Good" living off this... .
Mary Arnold- Excellence seminars for those who can't afford work clothes or reliable transportation are an exercise in sadism. The main reason to continue pointless training may be a sweetheart deal for a buddy in the training business. Though counterproductive, such services are a deductible business expense. The Glengarry/Glenn Ross B.S. continues as those who are employed ostensibly to provide services (insurance, utilities, education) are brainwashed to perform obfuscation or predation with misinformation and aggressive behavior. My recent experience in this comes from disability insurance, a deceptive and defective product administered entirely for profit.
you ask for validation of the author's views... ? if guess if you never lived before Reagan and have no other perspective.... you must ask.
then, one probably would wish to see Reagan replace President Grant on the $50 dollar bill,
let's ask our Rep. MCHenry (R_NC.) he's on the House Finance Team he must know something Inside DC Monetary Policywise?
david641- The show was disturbing primarily because the evidence is strong and the reasoning sound and unlikely to be refuted. The next step is income redistribution and shorter working hours, not a rehash by the usual talking heads. Actions WE can take are comments like these, discussions of the same subject matter with peers, and public protest. Like the man said Obama is living in the late 20th Century, Romney in the 19th. Voting on our preferred period of history seems a minor matter. Would you rather be driving a Corvair or a buggy? Both are great novelties. Yes, Diane showed her brilliance today.
R. Longview- McHenry (made up name) is best described as an egotistical closeted homosexual fascist crank (abandoned his car in the airport security lane) , a total embarrassment to those he represents and serves with. Virginia Foxx, the Christmastree Queen is nearly as bad. People are kept ignorant by media and schooling in NC where I struggle. But the Owners seem content with this representation. They certainly pay for it.
Zeno phobia best describes the man -- we love him here in the Gerry,mandered 7th or 8th western district NC... .
yeah, up in the NC Blue Ridge mtn county of Ashe, where they grow X-mas Trees, you can't drink the well water due to pesticide contamination used to fight the Phytopia tree desease... . beware the famous Spring Water there too, i s'spect
dan bethel_ Noam Chomsky's most instructive observation is how government fosters research and development at taxpayer expense, then hands best outcomes over for big time corporate profiteering. So we see again how risk is socialized and rewards privatized. It wouldn't be as bad if private concerns did not abduct out collective intellectual and technological property overseas to slave labor regions. Citizens are thus torted twice by financing increased productivity in which they cannot share.
Our economy is where it's at because of years of Government Regulation. The more the Government gets involved in regulating; the more our economy will bleed dollars due to ineptitude, indifference, apathy, lack of integrity, fraud, waste, and abuse. Name one program administered by the Government that is economically healthy! Wealth is generated by private business, not the Government. And we got a President at the helm who believes that "more Government" is the answer. You'd think a Harvard trained Lawyer would know better. But I think he does; he's using the folks who don't pay any income tax into the treasury to keep himself in power by handing out "freebies". Obama is taking this Capitalistic Country down for one reason and one reason only, POWER! He'll be one of the priviledged and connected persons once the Government takes complete control (exempt from Obama Care, free pension for the rest of his life, his feet will never touch the ground.) Wake up folks and smell the coffee before it's too late. You can't let this "clown" ruin our Country.
What a beautiful conclusion to the topic of its preceding program. Mr Faux's assessment has been storming within my own mind since 1980. He has perfectly given summation to the state of our nation and what currently needs to be done...money in politics and what it has done to our culture/economy; evidenced right down to the Supreme Court's Citizens United ruling.