Do people trust government to deliver prosperity? Ask this year’s Nobel laureate
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 24 October 2024
⏱️ 8 minutes
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Summary
Americans nowadays don’t agree on much, but most have one thing in common: disappointment in their government and the direction of the country. According to University of Chicago Professor James Robinson, who jointly won the Nobel Prize in Economics this year, a lot of this discontentment can be tied back to economic inequality and a perception that economic gains of the past few decades haven’t substantially improved normal people’s lives. Plus, an update on Boeing as striking machinists reject the company’s latest offer in ongoing labor negotiations.
Transcript
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| 0:00.0 | One of the new Nobel laureates says the U.S. economy is not working for most. |
| 0:06.0 | I'm David Brancatio. |
| 0:08.0 | For striking workers at Boeing have voted to reject the company's latest contract offer. It had included a 35% pay increase, so the |
| 0:16.8 | six-week-old strike at Boeing's West Coast plants goes on, adding to many challenges for the |
| 0:21.8 | company, including a six billion dollar |
| 0:24.2 | quarterly loss. Marketplace's Nova Safo is here with more. |
| 0:28.0 | Yeah David, what may count as a sliver of good news for Boeing this morning is that |
| 0:32.4 | its workers voted to reject |
| 0:33.7 | the latest contract offer by a narrower margin than the last vote. 64% were against |
| 0:39.3 | this time. Last time it was 94% so they're getting closer. The latest offer was for a 35% increase |
| 0:46.6 | in wages very close to what workers have been demanding but it's looking |
| 0:50.1 | increasingly like Boeing will have to make a significant move toward the other |
| 0:54.8 | major demand workers have been making and that's the restoration of a traditional pension plan. |
| 1:00.3 | So far the company has not agreed to that. All right, and yesterday's quarterly loss shows Boeing needs a lot of work. |
| 1:07.0 | Workers think they can still press the issue. |
| 1:10.0 | Well, they certainly do. |
| 1:12.0 | The way the Workers Union put it is that 10 years of sacrifices will take time to reverse. |
| 1:17.0 | And it was exactly 10 years ago, not a coincidence, that the Union Rank-and-file voted to approve a labor deal that got rid of their pensions. |
| 1:25.0 | They felt forced to accept the deal at the time because Boeing had threatened to move production |
| 1:28.7 | of a new jumbo jet to a non-union state. |
| 1:31.5 | That jet, by the way, is the Triple 7x, which has yet to see a single |
| 1:35.2 | delivery and that's just one of its many challenges right now. |
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