Economic Update - May 19th, 2012 - Government Bailouts, Corporate Take-overs and Unemployment
Updates on impact of subprime mortgage abuses and economic crisis on racial and ethnic minorities; on Japan's nationalization of the Tepco Corp., and mixed results of bailouts of GM and Chrysler. Major discussions of (1) why government take-overs of private enterprise are rarely "socialistic" and mostly pro-capitalist, and (2) the basic causes and cures for unemployment in capitalist economies. Responses to comments on decision-making in workers' self-directed enterprises and about "recovery" in the housing market.
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