Part III: Public Policy Issues
25. Trade and the working class
READ: 550 Readings Book 2: 165-189 on trade AND 231-234 (Ruffini)
QF: Until Trump came along, no US president cared about the fate of American manufacturing workers. See the policy study guide. I won't make you responsible to KNOW all these, but they might help you get through this long reading.
Don't worry to much about the ins and outs of Varoufakis article. Its there to provide you with a general sense of the origins of the neoliberal era that some are saying came to an end with the financial crisis of 2008. You might find this AI-generated explanation of financialization helpful:
Financialization is an economic process where the influence of financial markets, institutions, and motives grows significantly over the real economy, leading to a focus on financial activities over the production of goods and services. This shift can result in companies prioritizing short-term financial gains, increased income inequality, and a greater reliance on debt for both households and firms.
26. The Politics of Immigration Policy (THIS UNIT IS UNDER CONSTRUCTION)
READ: 550 Readings Book 2: 131-139 & 142-165 & Docs2 Appendix, "Insane Assylum" by Peter Skerry.
WATCH: Video on abuse of H-1B visas: CBS promo (4 minutes).
UPDATE: Divisions seemed be forming in the MAGA movement at the end of the year over immigration, esp. regarding the H1-B visa program.
At one point, Musk tweeted:
The reason I’m in America along with so many critical people who built SpaceX, Tesla and hundreds of other companies that made America strong is because of H1B. Take a big step back and F*** YOURSELF in the face. I will go to war on this issue the likes of which you cannot possibly comprehend.
The Wall Street Journal reported: "Musk’s argument for merit-based achievement and reforming the H-1B visa program for high-skilled workers doesn’t go over well with a group of people who profess to be worried about Americans losing high-paid jobs to foreign workers for the benefit of rich elites."
NOTE: you have a free subscription to the WSJ through the PEA library.
27. Labor
READ: 550 Readings Book 2: 118-131 and in Docs2, Appendix, the selections from the book, What Unions no Longer Do, by Jake Rosenfeld (All of the Introduction and from the top of 187-199)
QF: Unions are no longer necessary.
29. Misc. Policy issues.
READ: 550 Readings Book 2: 189-208 and Handout on the cost of billing, from the Caledonian Record