http://www.jsonline.com/news/opinion/45438752.html By Sheila Cochran
Posted: May. 19, 2009
The current economic crisis is squarely rooted in corporate power run amok. Over the past several decades, corporate executives have lined their pockets while their well-funded lobbyists rewrote and erased regulatory rules.
And what did they get for their efforts? We're now seeing both the highest levels of income inequality and the worst economic crisis since the Great Depression.
On Tuesday, Milwaukee was visited by Karl Rove, former political adviser to President George W. Bush. He was in town to bash the Employee Free Choice Act before a private meeting of the corporate lobbying group Wisconsin Manufacturers & Commerce.
Should we really be taking economic advice from one of the architects behind our current deregulation-fueled catastrophe?
Even before Wall Street starting sinking, working people knew the game was rigged. After all, workers' productivity has soared over the past several decades - leading to record profits. But those gains weren't reflected in their stagnant paychecks. Instead, corporate power brokers were busy concocting schemes to inflate their salaries to 350 times the wages of an average worker.
Now we're in desperate need of a recovery, but average consumers don't have the buying power to stimulate the economy. That means layoffs and cutbacks. In Wisconsin, we are experiencing the highest unemployment rates in 27 years, and there is no relief on the horizon.
FULL story at link.