Thursday, January 30, 2014

Breaking: Post-Klein WonkBlog Still Terrible

This post from WonkBlog (no, I don't read WonkBlog, a friend pointed it out) is so incredibly daft, it is hard to know where to begin, but let's just look at this one howler.
Until Obama deals with this fact, every time he asks corporate America to do something like raise wages, executives will feel free to ignore him. And it’s no wonder: Because they don’t answer to the president -- they answer to shareholders.
Huh?  Where did the insane notion that Obama could ask people to do things generally and that they should give him the time of day even come from??  And where did the insane notion, specifically, come from the President ought to have any say in setting wages?

This is such an incredible offense to logic and the values of a democratic society and private enterprise that it makes my head hurt.

The whole thing is atrocious...apparently "shareholder value" was invented in the 1980s (subtle dig at Reagan?).  Really?  Owners just started to demand optimal profitability and capital efficiency from their employees in the 1980s?


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