Viewpoint: Harold Meyerson

“As corporate profits skyrocket, even as the economy remains stalled in a deep recession, Americans confront a grim new reality: Our corporations don’t need us anymore. Half their revenues come from abroad. Their products, increasingly, come from abroad as well. With each passing year, America’s leading corporations grow more and more decoupled from the American economy. Their interests grow increasingly detached from those of our workers, our consumers—and our economic future. That’s why the current downturn is different from its predecessors: Unlike any recession in American history—including the Great Depression—this one has come at a time when America’s leading employers can return to profitability without rehiring large numbers of American workers.”    

Harold Meyerson in The American Prospect