Until consumers demand better conditions in overseas factories — as they did for companies like Nike and Gap, which today have overhauled conditions among suppliers — or regulators act, there is little impetus for radical change.
Do you think Congress is responsible for this countries economic problems, or President Obama?
Can we say neither?
Sure, Congress & the administration have had a rough year trying to get along, but most of that hasn’t really affected our economic policy to a degree that it would really send us over the edge.
If you’re looking for someone to blame, we would start with the ten years prior at the Fed, then look at the banks and how they so poorly dealt with a rapidly collapsing housing market, and then Europe, which today is largely responsible for many of the fears and woes that things are going straight back to 2008. If you haven’t, we’d also recommend you listen to this This American Life podcast which really does a great job of explaining “The Giant Pool of Money.” It won a Peabody!
I generally think customers don’t want to be nickled and dimed.
After enduring grueling work schedules for several years, many people, for the first time in several years, feel empowered people to ask for more—be it money, time off, stock options, bonuses, promotions, or the ability to work from home. “It’s not that workers feel entitled. It’s that they feel like they’ve earned it because there’s a little more room out there,” says one outplacement CEO. And, if employees feel like companies are not responsive, the high performers eventually will leave.
The interplay between prosperity—and poverty—and religious observance has become a recent fascination of a small number of economists and other social scientists, for understanding these patterns can help us better predict the future. Do hard times produce more fundamentalists? Do prosperous times produce more do-gooders? Will a lengthy economic slump pull people into the pews to pray for jobs and ladle soup for needier neighbors? Or will it keep people at home on the couch, nursing psychic wounds and cursing their creator?