Monday, March 29, 2021

Bloomberg: It's Not Infrastructure; It's Reimagining the U.S. Economy - Bloomberg

The  always provocative Noah Smith from Bloomberg

It's Not Infrastructure; It's Reimagining the U.S. Economy


by Noah Smith

<p>Biden is aiming for transformation with his next legislative push that tackles social ills and climate change to fit the needs of the future</p>

https://www.bloomberg.com/opinion/articles/2021-03-29/it-s-not-infrastructure-it-s-reimagining-the-u-s-economy?sref=woWS9Szx

President Joe Biden's next major legislative initiative is called an "infrastructure" bill, but it's actually something bigger. It's about transforming the nation to better fit the needs of our future economy — in other words, industrial policy.

Usually when we think of infrastructure bills, we're talking about repairing all the old stuff: roads and bridges. This bill will definitely include that, but it will also build lots of new infrastructure : a modernized electrical grid, electric vehicle charging stations and public transit.

In addition, Biden wants to build lots of things not normally counted as infrastructure — housing to relieve the nationwide housing shortage, schools and other education facilities, various resources for Native American tribes, and so on. And he wants to retrofit many existing buildings and transportation systems to be more energy-efficient and to run on renewable energy.

And on top of all that, the bill is expected to contain provisions to alter the shape of the U.S. economy. That includes a big boost in research spending, free community college tuition, and massively increased spending on child care. The idea is to upgrade both the high-tech competitive parts of the economy while also boosting the labor-intensive industries that provide mass employment.

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In other words, Biden's second legislative effort will be far more transformative than his first. It amounts to a serious and sweeping redirection of the entire U.S. economy. There are many reasons Biden is choosing, rightly, to do this now, when his Democratic predecessors were so much more cautious and incremental. The competitive and military threat from China, the nation's demand for a burst of growth after the disaster of Covid-19, and the increasingly dire threat from climate change all figure into it. But the biggest reason is that the nation has come to a collective realization that the old industrial policy, fashioned in the late 1970s and 1980s, is no longer working.

The Giant Ship Blocking the Suez Canal Is Finally Freed - Bloomberg

The Giant Ship Blocking the Suez Canal Is Finally Freed

by Jack Wittels and Ann Koh

The giant vessel that's blocked the Suez Canal for almost a week was pulled free from the bank, a major step toward getting ships moving again along one of the world's most important trade arteries.

https://www.bloomberg.com/news/articles/2021-03-29/the-giant-ship-blocking-the-suez-canal-is-finally-freed?sref=woWS9Szx

Tugboats tow the Ever Given along the Suez Canal on March 29.
Tugboats tow the Ever Given along the Suez Canal on March 29. Source: Suez Canal Authority

LISTEN TO ARTICLE

3:04

The giant vessel that's blocked the Suez Canal for almost a week was pulled free from the bank, a major step toward getting ships moving again along one of the world's most important trade arteries.

The stoppage caused a tailback of hundreds of vessels, snarled supply chains already under pressure due to the coronavirus pandemic and provided a stark reminder of the fragility of the global trade infrastructure.

Horns sounded in celebration as the Ever Given -- a boat longer than the Eiffel Tower -- made her way up the canal after a frantic rescue operation involving teams of tugs and dredgers working day and night.

The container ship was moved from the canal wall around 3 p.m. Egypt time on Monday. It then traveled north from the narrow southern end of the canal, where it ran aground on Tuesday, toward the Great Bitter Lake.

Read more: When a Desert Wind Blew $10 Billion of Global Trade Off Course

The Suez Canal Authority said navigation would resume as normal, though it didn't specify when. There will be enough space for other ships to pass the Ever Given once it gets to the lake.

It could take around a week to clear the queue of ships waiting around the canal, according to the SCA.

Salvage teams had struggled to free the vessel, 400 meters long and carrying almost $1 billion of cargo. They tried to use high tides and a full moon to pull it from the sandy bank it smashed into during high winds, in an operation that also involved shoveling 30,000 cubic meters of sand and removing part of the canal wall.

Egyptian authorities were desperate to get traffic flowing again through the waterway that's a conduit for about 12% of world trade and about 1 million barrels of oil a day. This has been the canal's longest closure since it was shut for eight years following the 1967 Six Day War.

Firms including A.P. Moller-Maersk A/S and Hapag-Lloyd AG were forced to reroute their ships via the southern tip of Africa, which can add two weeks on to a journey between Europe and Asia.

Dominoes Have Toppled

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The long-term impact of the canal's $10-billion-per-day closure will likely be small given that global merchandise trade amounts to $18 trillion a year. Yet so many ships being thrown off schedule will ensure cargo delays for weeks, if not months. The dozen or so container carriers that control most of the world's ocean freight are already charging record-high rates on some routes, and shortages of everything from chemicals and lumber to dockside labor already abound.

"The dominoes have been toppled," Lars Jensen, chief executive of SeaIntelligence Consulting in Copenhagen, wrote on social media over the weekend. "The delays and re-routing which have already happened will cause ripple effects" which will be felt for several months.

Companies from Ikea to Caterpillar Inc. have been affected and tens of thousands of live animals -- many of them sheep -- are stuck on ships in the area. Consumer goods, industrial inputs, and commodities from oil to coffee are caught up in the jam, with Asian exporters and European importers affected most directly.

The blockage held up about $400 million an hour, based on rough calculations from Lloyd's List that suggested westbound traffic to Europe is worth around $5.1 billion a day and eastbound traffic is approximately $4.5 billion.

— With assistance by Brendan Murray, Alex Longley, Abdel Latif Wahba, and Dan Murtaugh

Tugboats tow the Ever Given along the Suez Canal on March 29.
Tugboats tow the Ever Given along the Suez Canal on March 29. Source: Suez Canal Authority

LISTEN TO ARTICLE

3:04

The giant vessel that's blocked the Suez Canal for almost a week was pulled free from the bank, a major step toward getting ships moving again along one of the world's most important trade arteries.

The stoppage caused a tailback of hundreds of vessels, snarled supply chains already under pressure due to the coronavirus pandemic and provided a stark reminder of the fragility of the global trade infrastructure.

Horns sounded in celebration as the Ever Given -- a boat longer than the Eiffel Tower -- made her way up the canal after a frantic rescue operation involving teams of tugs and dredgers working day and night.

The container ship was moved from the canal wall around 3 p.m. Egypt time on Monday. It then traveled north from the narrow southern end of the canal, where it ran aground on Tuesday, toward the Great Bitter Lake.

Read more: When a Desert Wind Blew $10 Billion of Global Trade Off Course

The Suez Canal Authority said navigation would resume as normal, though it didn't specify when. There will be enough space for other ships to pass the Ever Given once it gets to the lake.

It could take around a week to clear the queue of ships waiting around the canal, according to the SCA.

Salvage teams had struggled to free the vessel, 400 meters long and carrying almost $1 billion of cargo. They tried to use high tides and a full moon to pull it from the sandy bank it smashed into during high winds, in an operation that also involved shoveling 30,000 cubic meters of sand and removing part of the canal wall.

Egyptian authorities were desperate to get traffic flowing again through the waterway that's a conduit for about 12% of world trade and about 1 million barrels of oil a day. This has been the canal's longest closure since it was shut for eight years following the 1967 Six Day War.

Firms including A.P. Moller-Maersk A/S and Hapag-Lloyd AG were forced to reroute their ships via the southern tip of Africa, which can add two weeks on to a journey between Europe and Asia.

Dominoes Have Toppled

The day's biggest stories
Get caught up with the Evening Briefing.
By submitting my information, I agree to the Privacy Policy and Terms of Service and to receive offers and promotions from Bloomberg.

The long-term impact of the canal's $10-billion-per-day closure will likely be small given that global merchandise trade amounts to $18 trillion a year. Yet so many ships being thrown off schedule will ensure cargo delays for weeks, if not months. The dozen or so container carriers that control most of the world's ocean freight are already charging record-high rates on some routes, and shortages of everything from chemicals and lumber to dockside labor already abound.

"The dominoes have been toppled," Lars Jensen, chief executive of SeaIntelligence Consulting in Copenhagen, wrote on social media over the weekend. "The delays and re-routing which have already happened will cause ripple effects" which will be felt for several months.

Companies from Ikea to Caterpillar Inc. have been affected and tens of thousands of live animals -- many of them sheep -- are stuck on ships in the area. Consumer goods, industrial inputs, and commodities from oil to coffee are caught up in the jam, with Asian exporters and European importers affected most directly.

The blockage held up about $400 million an hour, based on rough calculations from Lloyd's List that suggested westbound traffic to Europe is worth around $5.1 billion a day and eastbound traffic is approximately $4.5 billion.

— With assistance by Brendan Murray, Alex Longley, Abdel Latif Wahba, and Dan Murtaugh

Sunday, March 28, 2021

socialist-economics:Amazon worker resources Page.

The Red Caboose has sent you a link to a blog:

who wants to get involved???

Blog: socialist-economics
Post: Amazon worker resources Page.
Link: https://economics.enlightenradio.org/p/amazon-worker-resources-page.html

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Friday, March 26, 2021

One year later, unemployment insurance claims remain sky-high [feedly]

One year later, unemployment insurance claims remain sky-high
https://www.epi.org/blog/one-year-later-unemployment-insurance-claims-remain-sky-high/

One year ago this week, when the first sky-high unemployment insurance (UI) claims data of the pandemic were released, I said "I have been a labor economist for a very long time and have never seen anything like this." But in the weeks that followed, things got worse before they got better—and we are not out of the woods yet. Last week—the week ending March 20, 2021—another 926,000 people applied for UI. This included 684,000 people who applied for regular state UI and 242,000 who applied for Pandemic Unemployment Assistance (PUA), the federal program for workers who are not eligible for regular unemployment insurance, like gig workers.

Last week was the 53rd straight week total initial claims were greater than the second-worst week of the Great Recession. (If that comparison is restricted to regular state claims—because we didn't have PUA in the Great Recession—initial claims are still greater than the 14th worst week of the Great Recession.)

Figure A shows continuing claims in all programs over time (the latest data for this are for March 6). Continuing claims are currently nearly 17 million above where they were a year ago, just before the virus hit.

Figure A

The good news in all of this is Congress's passage of the sweeping $1.9 trillion relief and recovery package. It is both providing crucial support to millions of working families and setting the stage for a robust recovery. One big concern, however, is that the bill's UI provisions are set to expire the first week in September, when, even in the bestcase scenario, they will still be needed. By then, Congress needs to have put in place long-run UI reforms that include automatic triggers based on economic conditions.


 -- via my feedly newsfeed

Thursday, March 25, 2021

New Yorker: The Amazon Union Drive and the Changing Politics of Labor

The Amazon Union Drive and the Changing Politics of Labor

https://www.newyorker.com/news/annals-of-populism/the-amazon-union-drive-and-the-changing-politics-of-labor?utm_source=onsite-share&utm_medium=email&utm_campaign=onsite-share&utm_brand=the-new-yorker

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Most contemporary union drives are ultimately about the past—about the contrast that they draw between the more even prosperity of previous decades and the jarring inequalities of the present. But one that will culminate on Monday, the deadline for nearly six thousand employees of an Amazon fulfillment center in Bessemer, Alabama, to cast ballots on whether to affiliate with the Retail, Wholesale, and Department Store Union, is the rare union campaign that is obviously about the future. In this case, hyperbole is possible. The Democratic congressman Andy Levin, of Michigan, a union stalwart, has described it as "the most important election for the working class in this country in the twenty-first century." On Monday, the Reverend Dr. William Barber, as prominent a figure as exists in the modern civil-rights movement, travelled to Alabama and said, "Bessemer is now our Selma."

That this election is about the future has something to do with the workers themselves, who embody the political transformation of the South to which progressives pin their dreams. According to union officials, a majority of the people employed at the facility, which is outside of Birmingham, are Black, and a majority are women. On the drive up to the facility, supporters of the R.W.D.S.U. planted a sign featuring the Democratic politician and voting-rights advocate Stacey Abrams striking a Rosie the Riveter pose. A high-ranking labor official in Washington pointed me to a detail from an interview, published in The American Prospect, with the campaign's on-the-ground leader, a thirty-three-year-old organizer named Josh Brewer. Brewer said that many of the workers who supported the union had been involved in demonstrations to bring down Confederate statues in Birmingham, and they often organized themselves.

But the significance of the drive has more to do with the company itself. Amazon is now among the largest private employers in the United States; its founder, Jeff Bezos, is arguably the wealthiest man in modern history. The company has paid every one of its workers fifteen dollars per hour since November, 2018, while also pioneering second-by-second monitoring of its employees. "This isn't just about wages," Stuart Appelbaum, the R.W.D.S.U.'s president, told me, on Monday. It is also about the strenuous pace of work, and the real-time surveillance methods that Amazon has used to monitor employees. Appelbaum said some of the workers that his union has represented have had employers that monitored their locations with G.P.S. chips in their delivery trucks, "but there's nothing like this, where you're expected to touch a package every eight seconds." It had been hard to organize within the Bessemer facility, he said, in part because many of the workers did not know one another. "It's hyper-Taylorism," Damon Silvers, the director of policy and the special counsel of the A.F.L.-C.I.O., said. "Amazon has determined an optimal set of motions that they want their employees to do, and they have the ability to monitor the employee at all times and measure the difference between what the employee does and what they want them to do, and there is nowhere to hide." Appelbaum said, "People tell us they feel like robots who are being managed by robots."

The Amazon union drive has drawn a rare intensity out of the usual suspects. Abrams, Levin, and Bernie Sanders have announced their support for it, and so has President Joe Biden, who recorded a strong message encouraging the organizers and discouraging any effort to interfere with them. It has also drawn some unusual allies, above all the conservative Republican senator Marco Rubio, of Florida, who published an op-ed in USA Today declaring his support for the organizing workers and his opposition to Amazon's ways: "The days of conservatives being taken for granted by the business community are over."

Amazon's influence is so vast—touching on issues from wealth and income inequality to antitrust policy, the American relationship with China, the omnipotence of workplace surveillance, and the atomizing effect of big business, in its most concentrated and powerful form, on families and communities—that it can scramble ordinary politics. For a moment, at least, it can put Marco Rubio and Stacey Abrams on the same side. Most organizing campaigns have a symbolic quality, in which the employer and its workers stand for different models of economic organization. The fight in Bessemer is different because it is so direct. Amazon isn't a proxy for the future of the economy but its heart.

Ayear into a pandemic that has kept many Americans cooped up at home, ordering supplies and streaming their entertainment, seems an unpromising time to take on Amazon, which supplies many of those services. Amazon's revenue grew by nearly forty per cent in 2020, and its workforce grew by about fifty per cent; Jeff Bezos's wealth reportedly increased by nearly seventy billion dollars last year. The company has become so ubiquitous that even to inquire about it entangles you in its machinery: type "is Amazon popular?" into a search engine and you might find, as I did, that most of the top results are books about popularity which are sold on Amazon. You can find evidence that Amazon both is and isn't popular in survey data. In one poll, ninety-one per cent of respondents said that they had a favorable view of Amazon; in another, fifty-nine per cent thought the company was bad for small business. To count on broad opposition to Amazon right now is to assume such cognitive dissonance: that Americans may increasingly rely on Amazon and view it favorably while also believing that the company needs to change.

VIDEO FROM THE NEW YORKER

"That's Not Who We Are" Is the Wrong Reaction to the Attack on the Capitol

It is still rare to find Republicans who will cheer on the program of organized labor. But it has become easy to find prominent conservatives denouncing Amazon. Bezos's accelerating wealth and Amazon's profiteering have been targets of Tucker Carlson's show on Fox News since the middle of the Trump era; early this winter, Donald Trump, Jr., called Bezos "hypocritical" for celebrating Biden's win, in November, while trying to restrict balloting in the Alabama union election a few months later. Josh Hawley, the firebrand Missouri senator, will publish a book titled "The Tyranny of Big Tech" in May, and was praised this week by Donald Trump for his antagonism of Silicon Valley. Many of the anti-Amazon arguments that have surfaced on the right revolve around the company's interventions in politics, particularly its decisions to stop hosting Parler, the extremist social-media site, on Amazon Web Services and to exclude a conservative book critical of transgender identity from its bookstore. This, some conservatives say, is the "woke capital" problem.

Oren Cass, a former campaign staffer for Mitt Romney, told me that the "woke capital" criticism of Amazon enjoys "almost unanimous" support on the center-right. Cass, who runs a new think tank, American Compass—which is dedicated, in part, to challenging laissez-faire orthodoxy—thought that such support could be a seed for a broader conservative turn against free-market fundamentalism. "The behavior of firms like Amazon, as not only an economic but also a social and political force, is highlighting for conservatives that what's good for profits is not always good for America," he told me. There isn't any formal caucus of Republicans who share this perspective. (The Party right now is a chaotic tangle of rivalrous personalities that often defies ideology.) But the roster of elected officials who have appeared on American Compass's Zoom panels and published essays on its Web site is a start, even though these politicians have their own points of emphasis, and even though they have publicly denounced one another. Romney has emphasized a child tax credit and expanding government spending to support poor families; Tom Cotton, the senator from Arkansas, the ways in which Chinese manufacturing has warped markets; Hawley a war on Silicon Valley and a defense of traditional communities; Rubio the pressure that vast multinationals put on small businesses. My own observation is that there is a sharp generational break among conservative policy wonks and staffers: those under forty tend to be much more skeptical of free-market fundamentalism, just as the young policy talent on the left has broken with Obamaism to embrace the more skeptical, interventionist view of the free-market economy represented by Elizabeth Warren. There might be some opportunism in the Republicans who, after Trump, are experimenting with a working-class conservatism. But they also fit the generational pattern.

"Amazon is sui generis in a lot of ways," Cass said, "so, while there is a broader argument necessary about the relationship between labor and management and the power of workers in the labor market, from a political perspective it offers an especially compelling circumstance for supporting change." Cass recently collected, on a Twitter thread, a decade's worth of news reports on Amazon's labor practices. The stories recounted that Amazon had ambulances waiting outside of warehouses during summer heat waves, that employees were sometimes fired algorithmically, without input from a human superior (a charge that the company has denied), that it had hired Pinkerton detectives to gather intelligence on its warehouse workers. Cass pointed out that most of these stories included at least partial responses from Amazon. Still, he said, "the pattern here is pretty clear. And it points to the need for greater worker power." Most conservatives are still skeptical of labor unions. Rubio has spoken of the need for less "adversarial" relationships between management and labor. But Cass's Twitter thread also seems to suggest that Amazon had so perfected the model of an efficient corporation that to see the company clearly was to see that ideology in a full, cold light.

The labor leaders in Washington seemed to see Republican support as welcome but mostly ornamental—like if a distant relative had sent, for Christmas, a very large painting of a duck. They found the Democrats' reaction more significant. In Biden's message of support earlier this month, he warned employers not to interfere with union elections: "You should all remember that the National Labor Relations Act didn't just say that unions are allowed to exist. It said that we should encourage unions." Silvers, of the A.F.L.-C.I.O., said he thought that Biden was speaking directly to the workers who were organizing. "The way he's talking is not unprecedented, but the precedents are in the Roosevelt Administration," he said. Appelbaum, of the R.W.D.S.U., said that there had been more talk about the importance of unions in the last Presidential campaign than he'd ever heard before. "We used to talk about how even those Democratic Presidents who we like would barely talk about unions. Biden is different."

What is rare about the Bessemer campaign is how neatly it encapsulates the modern economic system—it is, in many ways, a pinnacle of a pinnacle. Amazon represents an extreme expression of the twenty-first century's extreme inequality and concentration of wealth and economic power, which has already changed the Democratic Party and some elements of the G.O.P. The Bessemer facility represents Amazon's system fully realized, and so it carries one potential future for work. The union proposition is that, in Amazon, in Bezos, in Bessemer, after a year of the pandemic, the whole system can be seen clearly. Now the choice belongs to those six thousand workers. Appelbaum suspects that the early vote was unfavorable to the organizing effort, but that the late vote—once the union presented this vision—was more friendly, and that Monday's outcome will hinge on when the most votes were cast. "We're going up against the wealthiest human being since the beginning of time, and this incredibly powerful corporation," Appelbaum said. "And they still can be beat."

Benjamin Wallace-Wells began contributing to The New Yorker in 2006 and joined the magazine as a staff writer in 2015. He writes mainly about American politics and society.