What Will It Take To Make The New Economy Work Right?

RussiaIn the News (from The New York Times):Job Losses Hint at Vast Remaking of Economy” Growing joblessness may reflect a wrenching restructuring of the American economy. In key industries — manufacturing, financial services and retail — many companies are abandoning whole areas of business. “Businesses [are] deciding to close down operations or get out of a line of certain activity,” said Martin N. Baily, a chairman of the Council of Economic Advisers under President Clinton and now a fellow at the Brookings Institution.

The stimulus spending bill signed last month includes $4.5 billion for job training. That only begins to address an area long neglected, said Andrew Stettner, deputy director of the National Employment Law Project in New York. “You’ve got to use this moment to retrain for jobs” said Mr. Stettner.

My Comment: This is true, but even a new economy will not work unless its aim is global and integral, in line with producing goods and services for the benefit of the whole world. The producer should only receive what’s necessary for him and give the rest to the common fund. Retraining people for jobs should incorporate reeducating people about life in a globalized world. Otherwise, people won’t understand the laws of Nature, and therefore, will not be able to succeed under the new conditions.

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