Word: laboral
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Dates: during 2000-2009
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That brings us to lesson No. 2. In the early 1930s, powerful voices at the Treasury and Federal Reserve argued that the deep pain of financial crisis was a necessary economic corrective. "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate," Treasury Secretary Andrew Mellon advised President Herbert Hoover. "It will purge the rottenness out of the system." Late last year, you could hear a few people arguing this case on CNBC and even on the floor of the House of Representatives. But after Lehman's failure, no one at Treasury or the Fed talked that way. Instead...
...Chinese press and on the blogosphere. "Americans are shameless," noted an Internet commentator. "They always blame others for their own problems." Critics accused the U.S. of sacrificing its relationship with China to domestic politics, and calls for retaliation were widespread. "The Obama administration is doing a favor for Big Labor in the U.S., but China now has to make choices of its own," blasted an editorial in the Beijing-based daily Global Times. "A trade war would be regrettable, but creating a long-term deterrent to U.S. protectionism may require retaliation." (See pictures of China's electronic waste village...
...leaders say they want to boost Japan's nonindustrial economy by lowering taxes paid by local businesses, developing new environmental technologies and creating jobs in health care and agriculture. Toshihiro Ihori, an economics professor at Tokyo University, adds that offering incentives to attract skilled foreign labor and multinational companies could produce more investment and boost domestic economic activity, helping to revitalize moribund commercial sectors that for too long have been sheltered from competition...
...word immigration doesn't appear in the DPJ's platform - the subject remains a touchy one for insular Japan. But the party has a plan to allow more foreign workers into the country to help offset the shrinking labor pool. DPJ lawmakers also want to improve the lives of younger Japanese workers by curbing the hiring of temporary workers by manufacturers, a widespread practice that over the last decade or so has relegated many youth to second-class-citizen status. While older workers hang on to the best jobs, younger workers stuck in temp positions are denied many company...
Disillusioned liberals, take heart. On Labor Day, President Barack Obama appointed Ron Bloom—former United Steel Workers executive who has devoted much of his career to promoting worker ownership of the means of production—as his manufacturing czar. Then again, this is the same Ron Bloom who holds a Harvard MBA and once served as an executive vice president of the investment bank Lazard Freres & Co. And no, he sees no contradiction between his business career and his pro-worker activism...