The Corporations and the Economy

New World Notes #567, 28:23 (January 15)
Broadcast quality MP3 (39 MB)
Decent quality MP3 (13 MB)

This installment--first broadcast in March 2013--is as timely and relevant now as then--alas!

Corporate profits and stock prices continue to go up, up, up. Yet unemployment remains disastrously high, layoffs are increasing, poverty and personal debt are increasing. How can this be?

Noam Chomsky, Jim Hightower, Dave Johnson, The New York Times, and singer Mike Stout provide some answers.

Hint: don't blame nature, the Internet, new technologies, or China. Changes in federal laws and regulations--which Big Business fought hard for--enabled and encouraged the current mess.

Two of the sources we hear from bring up our local contributor to the Dow Jones Industrial Average: United Technologies Corporation. Just before the show's initial broadcast, UTC reported record profits and reached a record high share price. The company celebrated by announcing it would lay off (that is, fire) 3,000 more workers--on top of the 4,000 it laid off the precious year.

Chuck U. Rosina recorded the Chomsky segment in Boston on February 25, 2013. (Thanks again.)

Music added: Mike Stout, from "Occupy"