The Right Prescription to Cure Economic Ills
Now that working families have forced the issue of the economy to the forefront of the presidential campaign, it’s time to make sure we keep the debate on real solutions that work for working people and not on “quack” remedies that will lead us down the road of economic disaster.
In a Point of View column on the AFL-CIO website, economist Lawrence Mishel says what’s missing from the debate is any meaningful discussion of how to create new jobs. Click here to read “Rx for Recession: An Economic Strategy that Works.”
Mishel, president of the nonprofit Economic Policy Institute (EPI), says the relationship between jobs and the impending recession is simple:
The recession is about paycheck economics—jobs, wages and family budgets. When most Americans don’t have the cash or the confidence to continue the spending that keeps the economy running, demand for goods dries up, businesses lay off workers, corporate bottom lines flat-line and the economy plunges into a downward spiral.