“Democrats have always believed that a basic civil right of all Americans is that their right to earn their own way. The party of the people must always be the party of full employment.”
That was Ted Kennedy during his famous 1980 speech at the DNC convention. Times have changed. Politicians no longer pretend full employment is possible or even desirable in the age of globalization. Alan Greenspan once noted that it is needed to keep a downward pressure on our wages.
There’s is a level of unemployment and homelessness which we have all agreed is socially acceptable for America, the richest country to exist since the Big Bang. We’re working hard to get back to it so we can start ignoring it again.
Wed: Ted’s legacy