Harold Meyerson

If you’re looking for the personification of the Washington economic establishment, you could do a lot worse than Fred Bergsten. National Security Council economics deputy under Henry Kissinger (at age 27), then head of the international desk and the monetary portfolio in Jimmy Carter’s Treasury Department, and from 1981 through last year the founding director of the Peterson Institute for International Economics, Bergsten has been a forceful advocate for what used to be called the Washington Consensus: an unflagging belief in the virtues of free trade and fiscal discipline.

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The most dangerous job in the world, outside war zones, isn’t that of an undercover police officer or a firefighter or a bullfighter or aerialist. It’s sewing garments — particularly in Bangladesh.

The death toll in the April 24 collapse of Rana Plaza has topped 1,100 and continues to rise. But Rana Plaza is merely the most deadly of an unbroken string of preventable disasters that have plagued garment manufacturing in Bangladesh, the world’s second-largest exporter of clothing, behind only China. It’s not even the most recent preventable disaster: Since the cataclysmic building collapse, several fires have swept other Bangladeshi factories, the most recent of which, last week, took eight lives.

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One aspect that defines our current economy is that things are happening that shouldn’t be happening. I don’t mean that things are happening that are illegal or immoral. (Well, some of them are immoral, but that’s not what I mean.) Rather, things are happening that defy economic logic—a slippery term that really means, the economic patterns of roughly the past half-century.

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The strikes of fed-up fast-food workers move westward with the sun. On Wednesday evening, fast-food employees in St. Louis, like their peers in New York and Chicago earlier this spring, staged a one-day strike to dramatize the low wages they, and millions of American workers in the restaurant and food sectors, take home.

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Since the emergence of capitalism, workers seeking higher pay and safer workplaces have banded together in guilds and unions to pressure their employers for a better deal. That has been the approach of the American labor movement for the past 200 years.

That approach, however, has begun to change. It’s not because unions think collective bargaining is a bad idea but because workers can’t form unions any more — not in the private sector, not at this time. There are some exceptions: Organizing continues at airlines, for instance, which are governed by different organizing rules than most industries. But employer opposition to organizing has become pervasive in the larger economy, and the penalties for employers that violate workers’ rights as they attempt to unionize are so meager that such violations have become routine. For this and a multitude of other reasons, the share of unionized workers in the private sector dropped from roughly one-third in the mid-20th century to a scant 6.6 percent last year. In consequence, the share of the nation’s economy constituted by wages has sunk to its lowest level since World War II, and U.S. median household income continues to decline.

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New York Attorney General Eric Schneiderman, who headed a group of state attorneys general that won homeowners and former homeowners a $26 billion settlement from five mega-banks over their foreclosure abuses, announced yesterday that he’d sue two of the banks—Wells Fargo and Bank of America—for allegedly violating the terms of the settlement.

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