There’s a new article at Washington Monthly, titled “Who Broke America’s Jobs Machine?” that I found quite interesting in itself — and even more interesting for the light it sheds on the visions. It indicates a major change of direction during Roosevelt’s New Deal, previously unknown to me, that appears to be directly related to the emergence of the holism vision in the late 1930’s.
Authors Barry C. Lynn and Phillip Longman argue that starting after World War II, the American economy served as a reliable job-creating machine, with innovative small businesses constantly providing new opportunities for employment and investment. This process was disrupted, however, when the Reagan administration allowed consolidation to take place in nearly all major industries, resulting by the 1990’s in the formation of monopolies and near-monopolies with no interest in innovation.
These corporate Goliaths, Lynn and Longman explain, feel no need to innovate because they find it easier to increase profits by jacking up prices or squeezing their suppliers. At the same time, their dominance inhibits the start-up of potential competitors, or else they buy them out before they can get established. The result is that the job market shrinks and investors have no place to put their money except into financial bubbles.