The Byproducts of the War on Iran
Iran’s control of the Strait of Hormuz affects not just oil and fertilizer, but also the many oil- and gas-based inputs essential to everyday goods.
Dean Baker, co-director of the Center for Economic and Policy Research, writes on the AFL-CIO website about the relationship between the current economic recession and the suppression of workers’ right to organize over the past three decades. As unions have been attacked, wages have stagnated, and economic growth has become increasingly driven by bubbles -- the stock bubble in the 1990s and the housing bubble in the current decade. Baker calls for a return to wage-driven economic growth to pull us out of the recession and put us on a path toward long-term stability.