Hillary Clinton: Will Her Economic Policies Follow Best Global Practices?

[DemocratsForProgress]

Walter Rhett: Hillary Clinton: Will Her Economic Policies Follow Best Global Practices?

Hillary Clinton’s search for an economic policy seems to forget the phrase used to caution investors: “Past results are not indicators of future success.” The world of her husband’s administration is long gone. The great goods of all economies are now commodities; volume produces wealth and flatlines jobs and wages. Apple, Monsanto (80% of world corn seed), American Water Supply (the largest water utility), Pepsico and Google are diverse examples of commodity enterprises operating in global markets that increase capital wealth with little increase in jobs; yet they are vital to economic growth.

Clinton’s advisers don’t seem to get this paradox: the modern economy is built on essential commodities that transfer wealth without the traditional means of adding value through labor and large workforces. In fact, work itself is becoming a commodity, priced by industry and region, in the same way as good and services.

Clinton economic panels ignore this reality. Yet the US economy is deeply entwined with monopolies by companies and by regions (China’s Pearl River zone, Foxconn; Vietnam, Indonesia, clothing; Brazil, agriculture; the big banks, cell, music and cable services; et al.). Working around the economic margins through taxes and fees will not restructure a system designed to vacuum up cash and maintain rock-bottom wages while the private sector shifts social costs to government.

But more importantly, her panels of economists overlook global best practices and opportunities! They agree and disagree about the wrong things! Models in several countries have successfully produced rapid growth and gains for the middle class in the last two decades (interrupted by the global recession) and continue to do so!

More at: http://www.democratsforprogress.com/2015/02/11/hillary-clinton-will-her-economic-policies-follow-best-global-practices/