Wednesday, September 24, 2014

A Score Card On The US Economy

This article describes the major changes that have occurred in the US economy over the last few decades.  The economy has grown fairly well, but the benefits from growth have gone to a small percent of Americans.  This is not news but some attempts are being made to understand the forces behind the unbalanced growth in wealth and income that has been underway.  There is a clear link between globalization and the hollowing out of the middle class.  Developing countries and global corporations have reaped most of the benefits from growth.  That explains why attitudes toward corporations are much more favorable in developing countries than they are in the US.  A majority of Americans have unfavorable opinions about corporations while a large majority have favorable opinions in developing countries like China and India.  Given the changes that have taken place in the US, the surprising result is that almost half of those polled in the US still hold favorable views of corporate America.  Corporate PR firms have done a good job of dealing with a bad hand.

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