The Free Market Fetish
As Ralph Gomory has made clear, economic theory has been shattered because there is no longer any connection between the profits of American companies and the welfare of Americans. The profits of American companies are derived from the cheap labor in offshored locations and are at the expense of the American work force. This dispossession of American labor has been heralded by offshoring’s pimps in the major universities as “the New Economy.” The “New Economy” is a hoax like most everything else the bought-and-paid-for-media feeds to Americans. There is no new economy. There is an unemployed economy. http://www.counterpunch.org/roberts02052010.html