There's no doubt that the economy has fast become the premiere issue in the 2008 election. Just what is best to do about the stuttering American economy is the question. Tax cuts or trade agreements, hedge funds or home loans — all are up for discussion on THE JOURNAL. Explore discussions on matters as diverse as the daily struggle to make ends meet or the growth of private equity.
Add your concerns and solutions for the economy to the map.
On the financial industry today: "When I came into this business in the 1950's, it was a business focused on the wisdom of long term investing. We changed in that period to a business that is focused on the folly of short term speculation. And think about this for a minute. If you're a true investor holding a company for the long term, you're well aware that the value in that company is company's earnings compounded over time, developing new products and services, developing efficiencies, trying to size up the proper corporate strategy — you know — making the company more valuable. But, in the folly of short term speculation, you're just thinking 'will that stock be worth more or less six months from now, or a year from now?'"
Watch John Bogle on BILL MOYERS JOURNAL.
On unemployment at a human scale: "I think that we need to remember that work anchors people in the social world we live in. It is a lot more than a paycheck. It's their identity; it's their sense of purpose. And that's been true, you know, more or less from the birth of the country. And since the great depression, we've recognized how important it is for people to be able to do for themselves. They do sometimes need the support of government to make that possible. And that's why I think if we could invest more in public employment, and if some of the stimulus package ends up creating jobs to help create the sort of infrastructure that we need to repair the roads, repair the schools-- we've got a lot of unfinished business out there. And the American people are willing to go to work and finish that business, if given a chance."
Watch Bill Moyers' conversation with Katherine Newman.
On the need for non-ideological market regulation: "I would hope that I would be called independent in thought, and not adopting a conservative or liberal — clearly what's needed is an independence of thought, if you will. And an approach to regulation. Markets don't regulate themselves. Clearly. Anymore than you can have an intersection and no stop signs and red lights."
Watch the interview with William Donaldson and reporter Robert Kuttner.
On the need for strong unions: "There is no reason why a truck driver today at the ports in Los Angeles, you know, should be making half the wage that they were making 20 years ago. There are opportunities in America to share better in the wealth, to rebalance the power. And unions and government are part of the solution. But we need big answers not small ones."
Watch the interview with SEIU president Andy Stern.
