Harold Meyerson, an American journalist and opinion columnist, was named one of “the most influential commentators in the nation” by the Atlantic Monthly in 2009.
Editor-at-large of The American Prospect, he wrote Business is Booming in which he argues that leading American corporations have found a way to thrive even if the American economy doesn’t recover. Meyerson warns, “This is very, very bad news.”
When he was CEO of General Electric, in 1998, Jack Welch pithily summarized his vision for corporate America: “Ideally, you’d have every plant you own on a barge to move with currencies and changes in the economy.”
Since then, corporations have discovered that they don’t need barges in order to unmoor themselves from the American economy. As corporate profits skyrocket, even as the economy remains stalled in a deep recession, Americans confront a grim new reality: Our corporations don’t need us anymore. Half their revenues come from abroad. Their products, increasingly, come from abroad as well…
Caution, you may not want to read Meyerson’s article if using an iPad.