Welcome to economic news you can use brought to you by Online Economics Classes. Below you will find economic news along with short commentary I feel is important enough to warrant inclusion in this new section of my blog.
1. Geithner: ‘Privilege of Being an American’ Is Why Rich Need Higher Taxes
Commentary: While I question Tim’s timing in saying this, I will not disagree with him. One of the reasons business has flourished in this nation is because of the above average security they enjoy by being in territories where religious, economic, and other forms of terrorism are not tolerated. This nation has spent trillions of dollars defending its people and their interests. It is time that the privileged of America pay up. The rest of us certainly cannot because business keeps screwing labor. Neither is it acceptable that the privileged enjoy the fruits of our managed society at the expense of the social safety net designed to protect those they could not care less about. Strong words, but richly deserved considering some of the language I have heard this past decade.
2. The Agony and the Ecstasy of Steve Jobs" How One Artist Is Pushing Apple to Change
Commentary: Apple is one of the most problematic companies to ever come out of America. Reports from their suppliers in China show avoidable explosions, suicides due to working conditions, and workers fired for developing repetitive motion disorders and then denied health care because of the dishonorable governmental policies in place throughout China. If any company ever deserved to be more heavily regulated it is Apple. Currently involved in an antitrust investigation concerning fixed pricing of ebooks.
3. Kenneth Cole Offers to Take His Company Private
Commentary: Finally a smart business man who sees that the stock market is a problem rather than a solution. Who in their right mind would want their business to become subject to the propaganda wars that rule Wall Street. Too much of what happens on Wall Street amounts to nothing more than voodoo economics rather than sound financial policy. The most poignant wisdom from the above article is “the pressures of the public markets had caused the company to focus on short-term earnings at the expense of long-term innovation.” Kenneth Cole is spot on and to be commending upon reaching this conclusion. Thanks Kenneth. If I return in my next life as a woman and you are still selling shoes and handbags I’ll be sure to look you up.
Thank you for choosing Online Economics Classes for your economic news. You can look forward to more relevant news in the near future.
