We know that investment causes growth. But it is also true that growth causes investment.
Jim StanfordOne of the glaring failures of capitalism is the continuing widespread existence of poverty - often extreme poverty. Even in the advanced economies, many millions of people endure terrible economic and social deprivation, despite the incredible wealth all around them.
Jim StanfordEmployers crave the power to fire workers whose performance is judged inferior-not just to get rid of those particular workers, but more importantly to motivate and discipline the rest of the workforce.
Jim StanfordTry this: say the words "global, global, global" aloud several times, as fast as you can. You'll find yourself sounding like a turkey ("gobble, gobble, gobble").
Jim StanfordGrowth can also involve producing services instead of goods. In particular, a major expansion of public and caring services (like child care, education, elder care, and other life-affirming programs) would generate huge increases in GDP and incomes, with virtually no impact on the environment.
Jim StanfordThis relationship is the foundation for the argument, made by some trade unionists and labour advocates, that high wages can actually be "good for business". The precedent set by Henry Ford in 1914, who offered workers $5.00 per day (a very high wage at the time) so they could afford to buy the same cars they made, is often invoked.
Jim Stanford