Despite the persistent U.S. commerce deficit, there is a widespread assumption that the U.S. economy is very aggressive. The coronary heart of this claim is that the relative unregulated state of U.S. markets, especially labor markets, has led to a productivity “miracle.” A nearer take a look at the productivity makes this proposition doubtful.
Although labor is obviously higher served when it’s organized into commerce unions to cut price with a unified voice, the bargaining between labor and capital goes on even when workers are unorganized. The bargaining between labor and capital is what makes up the “social contract” that’s required so as to legitimize the unequal distribution of revenue, wealth, and energy that a free market generates. Electronic applied sciences and fashionable transportation and communications system allow for very efficient enterprise and monetary networking. Increasingly, the highest echelons of transnational enterprise are managed by multinational personnel, who’ve little or … Read More