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.