Harvard economist Richard Freeman called today for a "new model" focused more on middle class success since the "Wall Street model has failed." Freeman spoke as the 31st Kenneth Piper memorial lecture at the Chicago-Kent law school.
Freeman noted that a successful capitalist economy needs "counterveiling forces" to temper the power of those at the top of the economy. He called on unions to take a broader role focused not just on collective bargaining but on broader economic and social issues. He called the idea "open source" unions. A path-breaking researcher on organizational productivity and the role of unions, Freeman also predicted that if the EFCA or similar legislation passed, private sector unionization would likely incrase from 7.6% to about 10% of the workforce.
Commenting on Freeman's remarks were Kim Dudier, who explained how the Newton, Ia., community came together to remake its economy after losing many Maytag jobs, and Don Kennedy, IAM, who explained the Harley-Davidson story as a potential new model for America's economy.
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