ECONOMY ISSUE Fall, 2012 1|Page
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Consumer Financial Protection Bureau founder Elizabeth Warren (Public Domain Photo)
Features p. 21 How to Fix the Economy
The founder of the Consumer Financial Protection Bureau and candidate for the U.S. Senate in MA on how to get America’s economy back on track. By Elizabeth Warren ______________________________________________
p. 28
Don’t Bet on Casinos for Southeastern Massachusetts A casino in the area will not solve our economic problems. By State Senator Dan Wolf ________________________________________
p. 36
The View From Around the World:
The Attleboro Democracy features its first international panel, focusing on different perspectives on the Euro-crisis. p. 38
The View From Germany
By Dr. Birgit Reinemund
p. 41
The View From Belgium
p. 44
By Senator Ludo Sannen
The View From the United Kingdom By John Thurso, MP
(A.D. Cover: Picture of Editor with Wall Street Bull by Alyssa Roban)
4|Page
Pledge to Our Readers Although this magazine is edited and put together by Democrats, we aspire that anyone of any political affiliation can read and enjoy the Attleboro Democracy. Contact us at: attleborodemocracy@gmail.com
Leading Off 8 11
Summer in Review Speech of the Season
Attleboro 13
The Economy of innovation Joseph P. Kennedy III
16
the Government spending debate Paul Heroux
23
The economy’s impact on education Victoria Wagner
25
Developing South Attleboro Andrew Meehan
Boston and Beyond 30
Our economy: with government or without? State Rep. Tom Conroy
33
The duties of Treasurer State Treasurer Steven Grossman
46
On the economy and the President Governor Deval Patrick
49
Which side are you on? Shawn Fitzgibbons
51
Who’s fighting for Massachusetts? Lee Harrison
Humor & Satire 53
Special Report: Candidates Spending Millions Interrupting Television Shows
The Politics of Culture 55
“The Dark Knight Rises” and the Redemption of the Rich Andrew Meehan
59
“The Campaign” and USA Elections Paul Heroux
EDITOR’s DEsK 60
One year of Democracy 5|Page
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Leading off. Summer in Review:
Some of the Biggest News from the Last Few Months.
1. Obama and Romney face off.
(Public Domain Photos)
The horse race for the Presidency is on, as President Obama faces former Massachusetts Governor Mitt Romney as his challenger in the fight for the White House. Polls show a slight Obama lead amongst a slow but sure economic recovery as the nation is also healing from war. This race is sure to be close right down to Election Day. 2. Paul Ryan picked as Republican Vice Presidential nominee.
(Public Domain Photo)
Wisconsin Congressman Paul Ryan was chosen by Republican Presidential nominee Mitt Romney to be his Vice Presidential running mate on August 11th. The chairman of the Congressional Budget Committee, Ryan is the author of the controversial conservative budget plan, “The Path to Prosperity,” which critics suggest will radically hurt the current Medicare system. Romney’s selection of Ryan seems to help win over the conservative base of the Republican Party.
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8|Page
3. A War on Women?
(Public Domain Photo)
In the midst of the election season, a so-called “War on Women” is a theme lurking beneath the surface. Sparked by the comments of Republican candidate for Senate in Missouri, Congressman Todd Akin (who spoke of his pro-life beliefs by citing “legitimate rape,” a comment for which he apologized), many are wondering in this campaign year if the rights of women won over the last few decades are under attack.
4. U.S.A. Ambassador to Libya killed.
5. Tensions strained between Israel and the United States.
During an assault on the U.S. Embassy in Benghazi, the U.S. Ambassador to Libya, Christopher Stevens, and three embassy staff were killed. An antiIslam movie made in the U.S. allegedly sparked the attack, and has caused protests across the Muslim world.
(Public Domain Photo)
As the threat of the Islamic Republic of Iran potentially acquiring a nuclear weapon looms, the United States and its ally Israel are at odds. Israel, feeling endangered by Iran, has threatened to preemptively attack Iran in October, before the 2012 U.S. Presidential election.
6. The United States thrives at the 2012 Olympics in London. The United States won the most Gold Medals, winning forty-six of them.
7. Curiosity lands on Mars.
8. Neil Armstrong died.
NASA’s rover Curiosity landed on Mars on August 6th and is currently exploring the Red Planet.
The first man to walk on the Moon died on August 25th.
(NASA Photo)
(NASA Photo)
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Speech of the Season The Attleboro Democracy’s motto is: Striving for a Better Public Debate. Those in public affairs that go out of their way to try to promote a better discourse in the country, city, and state, often do so by speeches and rhetoric. The best of these we like to feature here.
10 | P a g e
Bill Clinton speaks before the DNC in Charlotte, North Carolina.
Speech of the Season for Summer 2012 : Bill Clinton’s speech at the Democratic National Convention At the 2012 Democratic National Convention, former President Bill Clinton gave a speech endorsing President Obama for re-election, but did so in a way that is in line with the ideals of the Attleboro Democracy in that he spoke of the nation’s leaders need to compromise and cooperate to get things done. Here’s an excerpt from Clinton’s speech.
“And so here’s what I want to say to you, and here’s what I want the people at home to think about. When times are tough and people are frustrated and angry and hurting and uncertain, the politics of constant conflict may be good. But what is good politics does not necessarily work in the real world. What works in the real world is cooperation. What works in the real world is cooperation, business and government, foundations and universities. Ask the mayors who are here. Los Angeles is getting green and Chicago is getting an infrastructure bank because Republicans and Democrats are working together to get it. They didn’t check their brains at the door. They didn’t stop disagreeing, but their purpose was to get something done. Now, why is this true? Why does cooperation work better than constant conflict? Because nobody’s right all the time, and a broken clock is right twice a day. And every one of us — every one of us and every one of them, we’re compelled to spend our fleeting lives between those two extremes, knowing we’re never going to be right all the time and hoping we’re right more than twice a day.” You can see the full transcript of the speech here, and the full speech on video here.
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The City of Attleboro is excited to
Announce its First Restaurant Week! Enjoy a prix-fixe dinner menu at participating restaurants across the city. Specially selected three-course dinner menus will be offered for $20. Plus, some restaurants are offering twocourse lunch menus for $10.
A unique dining experience which encourages guests to sample offerings from the city’s new
restaurants as well as enjoy the city’s historical gems and long-time local favorites.
No tickets, coupons, or passes are required from customers. Food lovers may simply dine out at as many participating restaurants as they wish during Restaurant Week. Enjoy!
Questions?
Contact
Jay
DiLisio,
City
Councilor
At
Large,
508
838
7328
council@cityofattleboro.us
12 | P a g e
or
ATTLEBORO
Content of, for, and by Attleboro.
Sustaining and Growing the Innovation Economy Attleboro, as well as the rest of the new 4th Congressional District, is poised to take advantage of jobs based on advances in science and technology. By Joseph P. Kennedy III Half a century ago, an Attleboro entrepreneur discovered that a common procedure used to give jewelry a durable sheen could be reversed to create the electrical contact needed for electronic test probes. Suddenly, from the roots of this city’s turn-of-
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13 | P a g e
the-century jewelry businesses came an
people have the tools they need to grow our
industry-leading manufacturing process; one
innovation economy outside of Boston and
that is used by companies across the globe
the Route 128 corridor and into areas like
today, including Attleboro’s own Rika
Attleboro, Taunton, and Fall River, which
Denshi America, Inc.
have incredible potential to host new
The people of the 4th District have a tradition of innovation stretching back
outposts of growth. Realizing
that
potential
requires
a
before the Industrial Revolution – from the
combination of public and private efforts – a
jewelry makers of Attleboro, to the first
strategy
mills of the Blackstone Valley, and the
working not as adversaries, but as partners,
textile manufacturers of Fall River. Today,
toward our economic future.
of
business
and
government
a new revolution in training and technology
From Rika Denshi here in Attleboro to
is needed so that innovation defines not just
the Hopkinton-based data storage giant
our past, but also our future.
EMC, global companies have planted roots
Nearly 40 percent of the jobs in our
in the 4th District that the public sector can
state’s $400 billion economy revolve around
nourish. Their success requires access to the
innovation industries like health care,
capital,
biotechnology,
workforce that businesses need to hire and
defense
information,
advanced manufacturing, and information technology. While
overall
employment
infrastructure,
and
educated
grow. On
the
federal
front,
that
means
statewide has fallen by 2.5 percent, the $33
continuing to secure funding for research
billion
and development. Massachusetts receives
biotech
employment
50
sector
has
percent
increased
since
2001.
more grants from the National Institutes of
Wherever new industry jobs arise, small
Health
business
sectors such
Foundation – over $2 billion annually --
as construction, business services and retail
than any state besides California. We also
soon follow.
receive the highest proportion nationally of
growth
in
other
and
the
National
Science
The source of innovation employment
Small Business Innovation Research grants.
across the Commonwealth comes as no
But the growth of NIH funds has not kept
surprise: our citizens, with their history of
pace with inflation. Strong leadership is
ingenuity
are
needed in Washington to expand R&D
powering our state’s great institutions of
accounts, which bring so many benefits to
higher education, our research hospitals,
our national economy and to Massachusetts
and our long history of pioneering products
in particular.
and
hard
work.
They
from the mutual fund to the minicomputer. Our challenge today is to make sure our
Bringing a larger share of those funds to the
4th District
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depends
on
public
14 | P a g e
investments
like
the SouthCoast
Life
Science and Technology Park at Fall River, which was funded in part through the $1 billion
Massachusetts
Life
Sciences
Initiative. It also means making permanent the federal R&D tax credit, which helps spur innovation. State and regional efforts are critical in the area of education. According to recent figures,
around
200,000
Massachusetts
workers are unemployed at the same time that over 130,000 jobs go unfilled because they require skills the jobless do not possess.
and education to work in the cities and
demand
towns they grew up in across the 4th District.
information technology training obtainable
Our district is ripe with the ideas and the
through no more than two years of
work ethic to lead the Commonwealth and
community college – a sound investment
the country into a 21st-century economy.
that can pay off with a starting salary of
Our businesses large and small understand
$50,000. We need an aggressive campaign
that innovation is not an abstract goal, but a
to align education and training at local
product of the fundamental values that have
institutions like Bristol Community College
been the lifeblood of this district for
with targeted job opportunities. This would
centuries:
not only drive up employment but also
commitment and pride. Those values above
encourage companies to locate new facilities
all else will build and sustain our economic
Thousands
of
those
jobs
th
in the 4 District to take advantage of the
resourcefulness,
initiative,
future. ď ˇ
concentration of trained talent. Communities like Attleboro, Plainville,
Joseph P. Kennedy III is a candidate for
Mansfield, and Taunton can serve as anchors for an educated, highly skilled
Congress in the new 4th Congressional
workforce – places that are home to not just
District of Massachusetts.
innovation and industry, but community and character. Housing, infrastructure and accessibility are all essential parts of
A copy of this op/ed originally appeared in the
encouraging a new generation to buy
Attleboro Sun-Chronicle.
homes, raise families, and put their talent
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The Government Spending Debate There’s a right way to think about government spending – and a wrong way. By Paul Heroux
The outcome of the debt policies in Greece and Europe have made some politicians in the U.S. backtrack on their position concerning the U.S. economic recovery. Austerity (cutting government spending) did not lead to market confidence and consequently an improved economy; it did the opposite. Cuts made unemployment soar. The Eurozone has an unemployment rate of about 11 percent. Why? They never really got out of the recession like the U.S. did for two main reasons: 1. Europe never used a stimulus as the U.S. and China did. 2. Europe has engaged in severe austerity measures. This flies in the face of some economic ideology.
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16 | P a g e
U.S. House of Representatives Budget
grow. If there is no spending, the economy
Chairman Paul Ryan, and presidential
will contract and GDP will decrease. This is
candidate
very bad. Cutting spending (public or
Mitt
Romney
have
both
backtracked on their economic views. Rep.
private) isn't the solution to a jobs crisis.
Ryan said that we need cuts so that we don't
A national economy is more complicated
have to do the Greek style austerity cuts. I
than a household economy. There are more
don't think Rep. Ryan knows exactly what
than enough examples of how cutting
austerity means; cutting is austerity.
spending in recessions has resulted in
Candidate
Romney
recently took the government
position
even
that
when
people
were
unemployed, goods and services were not
chief
bought, and when goods and services
macroeconomic adviser is Greg Mankiw, a
weren't being bought tax revenues decreased
professor of economics at Harvard and who
further contributing to the debt. Moreover,
also is a new Keynesian.
the GDP also shrunk and this increased the
recovery.
Unfortunately,
hurt
Recently,
our
economic
spending would
cutting
increased unemployment.
Romney's
deficit
hawks
and
debt to GDP ratio. Several Nobel Prize
conservative fiscal ideologues refuse to
winning economists, chiefly Paul Krugman,
accept that their ideas are misplaced in time.
reason that this scenario could have been
We want private sector investment but this
avoided by an opposite policy of temporary
isn't happening right now; the private
government spending.
sector is sitting on $2 trillion in cash reserves.
Consequently, when
spending
decreases, GDP decreases and then so do tax
revenues,
and
the
national
debt
increases.
Government spending... that sounds scary. If done correctly, it's not scary at all. The core issue in economic growth is one of spending. When there is a demand for goods and services, spending occurs; with increased spending a GDP grows. If there is no demand, there is no spending. A steady
Macroeconomics 101
supply of money in people's pockets is One of the main problems with our
necessary for people to act on their spending
national economy is that we are in a
demands. Either the private sector or the
liquidity trap.
public sector can spend. Right now, the
What this means is that even when the Fed lowers interest rates to zero or near
private sector isn't. Conservative economists often like to say
zero, the private sector still doesn't spend.
that
supply
Spending is important for growth. If there is
sometimes when conditions are good;
not enough spending, the economy won't
supply of a new product can (but not must)
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creates
demand.
It
does
17 | P a g e
lead to demand. More importantly, no
this increases the debt (but so do ill timed
spending will occur if there is no money and
tax cuts).
there will be no money if people don't have jobs.
What we saw in Greece was the result of ideological decisions, not sound economic principle. This is going on here in the U.S.,
So, how do we get money into people's
too. Deficit hawks seemingly have a fear of
pockets?
data and reality, or maybe it is a blind In a healthy economy, the government
adherence to a rigid ideology that does not
should spend as little as possible. Too much
accept that the best policy depends on the
or misplaced government spending in a
context. Whatever it is, their cute little
healthy economy can crowd out private
saying that 'you don't decrease debt by
investment, which in turn decreases tax
spending' is just ignorant of how a complex
revenues and misses the opportunity to pay
economy
down public debts.
debt and there is bad debt. Good debt can
works.
There
is
good
In an unhealthy economy, however, by
create jobs, increase spending, increase the
definition the private sector isn't spending
GDP and therefore increase tax revenues
and
which then pays down the debt.
unemployment
is
high.
When
unemployment is high, spending decreases,
If we follow sound economic principle,
businesses contract, people are laid off and
we would expect that more stimulus would
it creates a downward spiral. To keep the
be pumped into the economy. If we follow
sale of goods and services flowing, which
political ideology, we will continue with
keeps our GDP high and people employed,
very slow recovery.
someone or something needs to spend. Therefore, the government is the spender of
A Misdiagnosed Economic Disease
last resort. is
Excessive regulation has been called the
a temporary injunction of money into a
reason the private sector isn't creating jobs,
troubled economy to keep people employed,
but that is a political slogan and it doesn't
to
and
square up with the evidence. A recent
consequently to keep private businesses
survey by small business economists found
afloat. Socialism is something entirely
that regulation wasn't why
different.
weren't investing; it was confidence. The
This
keep
is
not
them
socialism.
buying
This
goods,
The government, as a spender of last resort, is a temporary fix and to be clear, yes,
report stated:
80
percent
businesses of
survey
respondents felt that the current regulatory environment was "good" for American
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18 | P a g e
businesses and the overall economy. Much
investing this, businesses would invest.
to the annoyance of many of his core
However, there is no guarantee that
supporters, Obama's policies have been very
investing
pro-business.
Obama's
argument, is going to give a return on
public
investment. The reason is that there is no
investment "crowds out" private investment.
sufficient demand. Citizens don't have
Uncertainty/supply-side proponents are
enough money to buy goods. They are
missing a major lesson of Macroeconomics
either out of work or their bills are too high,
101: public investment doesn't crowd out
as is the case with students who owe
private investment in the short run; it does
enormous amounts on student loans (I
so in the long run.
personally owe $150,000 in student loan
economic
Opponents
policies
chant
of that
The 'uncertainty/supply-side' narrative is a misdiagnosis of what is really going on and a distraction from what we need to do The
‘uncertainty’
argument
this
money,
a
supply-side
debt). Since the private sector isn't investing because they don't think there will be buyers
is
because unemployment is high, someone
fundamentally a conservative argument
needs
to
step
in
and
decrease
the
because it says that if you supply goods and
unemployment rate, which will put money
services, people will purchase them. This is
in the pockets of consumers. This will then
simplistic and, in this context and current
increase business that investment will
economy, it is just wrong.
produce a return.
Businesses say that uncertainty is holding
In all fairness, does regulation impede
them back because they have bought into
business? It can, but at present it is to a
the Republican narrative on this issue. Both
lesser
of my parents are small business owners
Republicans;
(Attleboro, MA and Plainville, MA) so, in
fundamental
addition to having studied this issue at the
unemployment is.
degree
than it
is
is not
claimed the
economic
core issue
by or --
highest level, I am intimately familiar the
When people have jobs, they will spend
challenges associated with growing a small
their money. When people are spending
business. If either of my parents were in the
their money, businesses can grow. Am I
black, they would either 1) keep that money
arguing for more regulation and more taxes,
as profit, or 2) invest it to grow their
both of which can hinder economic growth
business but only if they thought people would
if done incorrectly? No.
buy their goods. The private sector is sitting on over $2
Closing Thoughts
trillion in cash reserves. If businesses expected that it would make money by
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19 | P a g e
The recent disappointing news about the
rigid ideology. This suggests that there is a
slight bump up in the unemployment rate
strong political argument for their position.
has led to contradictory statements.
Mitch McConnell said that his primary objective is to see to it that Obama is a one-
When the national unemployment rate
term president. So, if the economy gets
was going down, Republicans said it
better, Mitt Romney will lose. If the
was because people are dropping out
economy stays the same or gets worse, Mitt
of the job market.
Romney will win. Could all this misplaced economic
When the unemployment rate went
ideology
be
political?
Only
Republicans and their conscience know.
up, Republicans say it is because Obama's policies have failed. Paul Heroux is a candidate for State Rep in the
What Republicans are saying is that when
Second Bristol District (Attleboro). Paul is a
unemployment goes up, the unemployment
master's graduate of the London School of
rate is a valid measure, but then when
Economics and a master's graduate of the
unemployment goes down, it is not a valid measure. Ladies and gentlemen, Republicans want to have it both ways. Unfortunately for them, the evidence is not on their side. The whole Republican argument blames the economy on a president's policies
Harvard
School
of
Government.
Paul
has written extensively on macroeconomic policy and is a consultant in private practice on program cost-benefit analyses. Paul can be reached at paulheroux.mpa@gmail.com.
creating uncertainty and completely ignores that
any uncertainty is coming from
un-
employment and consequently a lack of demand. Businesses would have more confidence if they felt that people would buy their goods. When the unemployment rate goes down, businesses will start to have more confidence. When businesses step in and invest, the government can back off and collect the revenues from that investment to pay down initial debt incurred to get us out of this slump or stalemate. Perhaps Republicans understand that the best policy depends on the context and not a
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Consumer Financial Protection Bureau founder Elizabeth Warren (Public Domain Photo)
How to Fix the Economy by Elizabeth Warren The founder of the Consumer Financial Protection Bureau and candidate for the U.S. Senate in MA has one key goal for re-energizing America’s economy – helping out the country’s middle class families.
As I travel all across the Commonwealth, I meet people who have been looking for work for months or even years. I meet young people who played by the rules and invested in their future by going to college, but are now drowning in debt and moving home with their parents because they can't find a job. I meet small business owners who can’t get financing, and are worried about rising costs. These are hard-working people, and they’re up against a hard truth: the system is rigged against them. It’s rigged to work for those who have an army of lobbyists and an army of lawyers – the big oil companies that make billions in profits, while sucking down billions in subsidies; the billionaires that get to pay lower tax rates than their secretaries; the big corporations that get special deals for investing and shipping jobs overseas. As we work to rebuild our economy, we need to create a level playing field so that everyone pays their fair share and everyone has a real shot at success. With a level playing field, we have
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21 | P a g e
real accountability, so there are rules to
any in the world. Well-trained workers give
prevent the big Wall Street banks from
us a powerful competitive advantage in
crashing this economy once again. With a
world markets.
level playing field, we have a tax system
And we need to invest in research and
that isn’t riddled with loopholes designed to
development. Massachusetts is a world
let the wealthiest get breaks while the
leader in the research that produces new
middle class picks up the slack.
products and new industries - and creates
And with a level playing field, we make
the demand for new jobs. Increasing our
the investments in the future that allow us
support for this kind of research helps
to get people back to work immediately –
Massachusetts and helps the country.
and create opportunities for our children and grandchildren to succeed.
We also need to support our small businesses, which are the heart and soul of
In the short term, we need to get people
our economy. Small business owners bust
back to work. Without a job and a
their tails every day, creating jobs and
paycheck, people can't spend money, and
opportunities for the future. We need to
that hurts businesses and depresses the
simplify and streamline regulations so small
economy. There's also plenty of work to do
business owners don't get tied up in red tape
- rebuilding our roads, bridges, and water
or strangled by hidden tricks and traps. And
systems,
we need to simplify the tax code, which is
working
as
teachers'
aides,
weatherizing our homes and offices. But
way too complicated.
just last fall, Scott Brown opposed three jobs
Every small business is different, and
bills in a row that would have made a big
every small business owner faces his or her
difference to people in Massachusetts.
own unique challenges. But by putting the
In the longer term, we need to create the
big banks and big corporations ahead of
conditions for our people to prosper and our
small businesses, Washington makes it
economy to grow. We need to invest in
harder for our small businesses to succeed,
infrastructure
thrive and grow.
-
in
roads,
bridges,
transportation, power, and communications.
Scott Brown and I stand on different
These are the kinds of investments that help
sides. I intend to make clear every day of
create
this campaign that he has taken sides with
an
environment
where
small
businesses can grow and flourish.
Wall Street and the big corporations, and I
We need to invest in education, because
stand with our middle class families and
investments in our people pay the highest
small businesses and will fight to end the
dividends. Good public schools, good
rigged system and create a level playing
public universities, and good technical
field for them in Washington. ď ˇ
training can give us a workforce better than
Elizabeth Warren is running for the United States Senate in Massachusetts.
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22 | P a g e
Two men walk along a street in the Dominican Republic. (Anna Langova, Public Domain)
Affects the Economy Has on Higher Education Education as a field is being harmed by the worldwide poor economy. By Victoria Wagner Education is not what it used to be and it no longer provides the same opportunities to individuals that it did so many years ago. People’s ability to attend a school or university that adequately matches their intellect has greatly diminished ever since the economic recession began. This issue, though, does not simply apply to the United States; it has become a global issue that needs to promptly be taken care of. Now more than ever students in the United States are discovering that just because they are intelligent enough to attend some of the top universities across the nation does not mean that they will be attending there even once they have been accepted. Instead, one of the largest determinations for students both in the United States and globally of where they will attend
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23 | P a g e
college is determined by their financial
not get to go at all due to their financial
status. No longer can a majority of students
status, and even once they have passed the
imagine themselves attending their “dream
required exams and enrolled it is not
school”—something that was possible just a
guaranteed that they will be given sufficient
few decades ago. Instead students are even
classes to enable them to advance and
beginning to question whether or not they
graduate. A majority of students in los
can
campos in the Dominican Republic, where
attend
state
schools
as
tuition
continually creeps up.
the poorer civilians tend to live, are not
While the economy in the United States
being given the opportunity to advance
is not at its greatest to support students
because of their economic and financial
attending institutions of higher education,
state. It is not something that they
students are still far better off than their
themselves have determined; it has been
peers in many Latin American countries.
predetermined by the governing state the
Recently in the Dominican Republic, the
number of courses they can enroll in and the
cost
“aid” they will receive, mirroring that of the
to
attend
the
public
university
skyrocketed in comparison to what families had been paying previously. Before these
current situation in the United States. Now, because of finances and the
costs rose, families still had difficulties
heightened
paying the tuition due to the their low
education, individuals across the globe are
income levels. Now, in addition to these
not able to attend the institutions that would
heightened costs, university students outside
best equip them to succeed in the world
Santo Domingo, the country’s capital, are
today. Students, regardless of their financial
only being given two or three classes (if
situation, should be allowed the opportunity
they’re lucky) as opposed to the normal six
to enter into studies at universities that
or seven classes that the students within the
match their intellect and ability. One’s
capital are allowed to take. The university
future should not be destroyed because you
system does not determine the number of
couldn’t afford to pay for your present
classes a student can take based on their
education, a basic right for all.
cost
to
receive
a
higher
intellect, ability, and past performance; rather, it is arbitrary. At first glance, the two systems of higher
.
education appear to be irrelevant; within the
Victoria Wagner is a student at Boston College,
United States, students still have the option
in the Lynch School of Education
to attend a university even if it was not their first choice or their “dream school.” Those in the Dominican Republic, though, may
Go to Table of Contents
24 | P a g e
(Andrew Meehan, Attleboro Democracy)
Developing South Attleboro Central Attleboro gets its economic attention – but so should Southie. By Andrew Meehan
I live in Southie.
blessed to have Route 1 cut through the very
Not South Boston – South Attleboro. For
center of it. If you have ever passed through
those outside the Attleboro area, the
Southie,
distinctions between Attleboros can be
Washington Ave, from St. Theresa’s all the
confusing.
Attleboro
way to the Church of the Good Shepherd, is
municipalities, North Attleborough, a town
every imaginable fast food joint and plenty
north of the city of Attleboro. In Attleboro
of other stores too: Wendy’s. Honey Dew.
itself, there is the neighborhood of South
Burger King. Taco Bell. McDonald’s.
Attleboro, in the southern part of the city,
IHOP.
just mere minutes (in some case seconds)
Mayflaire Plaza, as well as the tinier stores
away from the Rhode Island border. In
on the other end of Washington Ave near
Attleboro as a whole, we often talk of
Lee’s Pond. There’s even two Dunkin
developing the city economically, but in
Donuts a mile away from each other on the
many
same street. And that’s not even half of
There
cases,
we
are
are
two
talking
about
developing downtown (the central area of
you’ll
Deangelo’s.
notice
All
that
the
along
shops
in
what we have here.
Attleboro) and excluding South Attleboro.
South Attleboro, due to its geography
There are legitimate reasons for this, but by
along Route 1, is blessed to have a
doing so, we are often missing out on
developed business area that needs little
developing Southie.
help in attracting potential store owners.
Part of the reason Southie is left out of
However, that doesn’t mean that South
the discussion is that South Attleboro is
Attleboro businesses (many of which are
Go to Table of Contents
25 | P a g e
locally owned places, as opposed to big
and Foxboro from places like Wal Mart, the
chains) couldn’t use fostering. Of course,
Emerald
the other part of the reason South Attleboro
Outlets, and Patriots Place Plaza. In
is ignored vis-à-vis central Attleboro is
contrast, central Attleboro locales are in
because Attleboro has more need in helping
better positions in some respect because
its development. Attleboro’s downtown is
they simply so surrounded by the rest of
currently
a
Attleboro. Something like Jonathan’s Café
renaissance, with new local favorites like
resides close by to Attleboro High School,
Scorpio’s Pizzeria popping up alongside
the Capron Park Zoo, the Attleboro City
classics like Morin’s Diner along North and
Hall, and the Attleboro Train Station.
South Main Street. Much of this has been
(South Attleboro has a train station as well,
noted and praised, especially in light of
but it is all the way on the Attleboro-
efforts
downtown.
Pawtucket border, and the shopping center
However, such praising would not be as
it is adjacent to has nothing quite like the
highlighted in South Attleboro because such
amount of commerce and stores like its
a thing would be common-place – it’s not a
sister on Route 1.)
in
made
the
to
early
stages
develop
of
Square
Mall,
the
Wrentham
surprise for instance, that something like
There are certainly ways to foster a more
IHOP would so recently decide to settle in
locally powerful South Attleboro. Things
South Attleboro on Route 1.
like
The development of central Attleboro is
a
business
organization
devoted
primarily to South Attleboro business needs
completely deserved and worthwhile –
(perhaps
something
nonetheless, there are things we as city can
Chamber of Commerce or like-minded
do to help foster South Attleboro growth
organizations),
even more, especially in light of the recent
sidewalks
uptick in the city’s desire for helping small
Attleboro, given its many side streets, as a
locally owned business.
whole, is well suited for a mass biking
and
or
a
subsidiary
more
biking
of
constructed
paths
(South
Helping so-called “mom and pop” shops
community), and even promotion from the
is no less difficult in South Attleboro along
city for local South Attleboro chains all are
Route 1 than it is in downtown Attleboro –
positive and simple steps.
often, it can surely be harder. In South
Central Attleboro should get its attention
Attleboro, a small business has to complete
from the city. But Southie should not be left
with dozens huge food chains and clothing
out of the discussion.
stores just within the Southie borders – that’s not even including the squeeze such firms would face from competition down
Andrew Meehan is the Editor of the Attleboro Democracy.
the road in North Attleboro and Wrentham
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26 | P a g e
27 | P a g e
DOn’t Bet on Casinos for Southeastern Massachusetts A casino will not solve our economic problems. By State Senator Dan Wolf As plans move forward for gambling in Taunton, my strong hope is that no one will confuse building a casino with rebuilding a vibrant economy in Southeastern Massachusetts. There’s so much more we can and should do: - Invest in infrastructure to create good jobs and long-term benefit. - Invest in education to create a workforce ready for tomorrow’s challenges and opportunities. -Invest in alternative energy, green renovation and construction, adding jobs that build healthier communities and get us away from oil dependence.
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28 | P a g e
In short, invest now for tomorrow, rather
over, experience has shown that gambling
than borrow from tomorrow to mask
raises revenue in no fair proportion to
today’s problems.
income, from those who can least afford it.
Casinos do not make those investments. Yes,
there
will
be
good
And much of that funding goes right back to
short-term
those who gambled it in, in the form of
construction jobs, a quick fix for some. But
human services and social programs as lives
the longer-term jobs in casinos generally are
crumble.
low wage, with little opportunity to climb the economic ladder.
So while we celebrate whatever help casinos offer to state programs that truly
Even assuming that the Wampanoag tribe is successful in its federal application to
need it, no conversation about gambling can be complete, or honest, without saying this:
move forward, the real money made in
Wealth in our state and nation has
casinos does not go to people who work in
concentrated in fewer and fewer hands, at
the
host
the top of the economic pyramid, in the last
communities . It goes to those who own and
30 years. But our tax code has not adapted.
invest in these operations, corporate backers
We need to accept that truth, and adjust
whose profits don’t circulate back through
taxes to reflect our economy’s top-heavy
our communities.
nature.
halls
and
hallways,
or
to
That’s not a reality I celebrate, and that’s not how to grow a grassroots economy.
Casinos
do
nothing
to
help
accomplish that. Our communities have always been
One visit to Atlantic City, strolling one
about education, innovation, health care,
block off their famous boardwalk into tough
financial
streets and bad neighborhoods, makes the
entrepreneurs. Our focus should remain on
case for not counting on casinos for our
economic growth that lifts our spirits,
economic future. So does a comparison
celebrates our creativity, builds and rebuilds
with Nevada, where gambling dominates
our
the economy: Nevada’s unemployment rate
Commonwealth
remains at 12 percent as of mid-August
And our revenue policies should reflect how
reporting, the worst in the nation, while
our wealth has consolidated.
th
ours is closer to 6 percent, 12 best in the
services,
infrastructure,
and
creative
strengthens
our
– making us all proud.
That, not black or red on the roulette wheel, is the prize for our eyes.
nation. There’s the promise of more state revenue
for
important
programs
in
education, transportation, and elsewhere, as
Dan Wolf is the State Senator for the
casino operators pay handsomely for the
Cape and Islands.
right to become “the house.” Yet over and
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29 | P a g e
Our Economy: With Government or Without? In order to have a healthy economy, do you need government? By State Rep. Tom Conroy Mitt Romney's disparagement of
lowering taxes for their rich friends boosts
47% of Americans as "dependent on
the
government,� implying that half of all
deficits. There are several problems with
Americans are lazy, is another clear
this philosophy.
economy
and
lowers
government
demonstration that two disparate views of
First, the theory has never worked in
the American economy dominate our public
practice, having been implemented twice in
policy
believe
the past thirty years (under Reagan and
government "is the problem" to quote
Bush the younger). No causal link between
Ronald Reagan, and should get out of the
the tax cuts and U.S. GDP growth has been
way;
proven,
debate:
while
Republicans
Democrats
believe
that
and
instead
of
shrinking
government should partner with the private
government, recent Republican presidents
sector to create new jobs and preserve
have
American competitiveness. Who is right?
(significantly in defense) and deficits. And
expanded
both
government
The GOP believes in laissez-faire, supply
the larger national debt burden they caused
side, trickle-down economics. Right-wingers
has created uncertainty in the private sector,
like Romney and Scott Brown theorize that
slowing investment and job creation.
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30 | P a g e
Second, the theory makes little sense for
industry in that country with over $100
the vast majority of Americans: the working
billion over the past several years. The
class. Tax cuts on the rich and trickle-down
Chinese government subsidizes essentially
economics makes the rich richer, further
all of its industries, which are taking jobs
widening the already cavernous income
from Americans every day. To compete
disparity between the rich and average
effectively in a global marketplace of the
workers.
been
21st century, we need to get off our chest-
burdened with shrinking job opportunities,
thumping, ideological high horse and fight
flat real wages for the past forty years,
back.
The
middle
class
has
higher health care costs, and unaffordable
As an alternative, Democrats believe that
college tuitions. Why make it tougher on
government can be smart, and should
us?
partner with the private sector in three areas
Third, supply side economics has been
where a completely laissez-faire approach
discredited by former proponents, including
undermines
our
private
President Reagan's budget director, David
competitiveness
Stockman, and two of President Bush's
infrastructure, clean energy, and advanced
economic advisors. Yet Romney and Brown
manufacturing.
across
sector
the
globe:
cling to it because it sounds good: they get
By investing government resources in
to make their rich friends richer while
rebuilding our infrastructure, jobs will be
claiming (fraudulently) that they will solve
created in engineering, construction, and
the deficit problem by doing so.
manufacturing that will, in part, make up
Republicans seem blind to the realities of
for lost jobs in other sectors. Further, these
what the rest of the developing world has
investments will provide a solid foundation
been doing to compete effectively against
for efficient and effective commerce, aid
what once was the most dominant economy
private
in the world. The European Union has been
investment, and support local businesses. By
subsidizing
aircraft
having the best roads, rails, bridges, and
manufacturer, EADS, for the past thirty
buildings in the world, we can force U.S.
years, stealing thousands of jobs from
businesses to think twice about outsourcing
Boeing
jobs overseas.
its
commercial
and
other
manufacturers.
Earlier
US
spurring
private
By investing in clean energy, the United
Brazilian government announced a $38
States can diversify our energy supply,
billion subsidy of its $48 billion ethanol
stimulate the economy with new jobs,
industry, which competes directly with
enhance
American
German
contribute to a cleaner environment. Wind,
government has infused the solar energy
solar, hydro, and biomass power can be
The
year,
by
the
agriculture.
this
airplane
industry
our
Go to Table of Contents
national
security,
and
31 | P a g e
cornerstones of American produced energy
-- Relaxed regulatory oversight and
that is sustainable and affordable. Our
compliance requirements for SMEs with
challenge
track records of compliance.
energy
involves
making
design,
renewable
management,
and
Innovation
and
manufacturing
are
production a top priority for government
inherently linked, and surrendering our
investment until the output pricing is
manufacturing base to other countries
competitive with other forms of energy. At
imperils our ability to maintain our creative
that stage, capital from private industry can
competitive advantage. Government can,
begin to replace government investment.
and should, foster synergies between our
Many U.S. based small and medium
high tech industry and manufacturing to
enterprises (SMEs) in the manufacturing
ensure that the United States remains on the
industry
competitive
cutting edge of innovation. It's easy to
challenges: they lack access to capital; their
propose fairyland feel-good schemes like
workforce is aging; and they need reliable
cutting taxes when you're trying to win an
R&D tax credits and a balanced regulatory
election and you care much less about
environment.
in
actually governing. It takes courage to see
partnership with SMEs, can address each of
the reality of our situation, speak truth to
these
the people, offer prudent leadership to
face
significant
Our
challenges
government, by
making
direct
investments in the following areas: --
Direct
investment
in
weather the economic storm we're in, and
subsidized
financing, accounting, legal, and insurance,
make the tough decisions that will lead to a brighter future. ď ˇ
and discounted back office solutions for joint ventures between high tech and manufacturing
firms
to
develop
new
Tom Conroy, a Democrat, is state representative from Wayland for Massachusetts'
products;
13th Middlesex District.
-- Direct investment in municipalities and state governments to transform fallow sites and former manufacturing buildings into "high
tech
manufacturing
ready"
and
"shovel ready" sites for small and medium enterprise (SME) manufacturers; -- Workforce development and training and funding for community colleges to enlarge the skilled labor base for advanced manufacturing;
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32 | P a g e
THE Duty OF TREASURER The goals and responsibilities of Massachusetts’ state Treasurer. By State Treasurer Steven Grossman “I feel a profound sense of urgency about the responsibilities I have accepted as Treasurer. We face daunting challenges… but I know we can meet them. The stakes are too high for the people of the Commonwealth to settle for anything less.” Treasurer Steven Grossman — Swearing-In Address, January 19, 2011
Since the beginning of my term, I laid out a clear vision to improve the operations and efficiencies at the Treasury. Our office created a Treasury Scorecard which provides a retrospective look at what we accomplished during our two years in office while outlining our ongoing commitment to protect the taxpayer's money, enhancing government transparency, and helping the economy by creating jobs and boosting small businesses. You can review the scorecard online at: www.mass.gov/treasury.
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33 | P a g e
“We are fervently committed to using the full potential of the Treasurer’s Office to protect the public’s money...” I believe that, first and foremost, the job of the Treasury is to protect the taxpayer’s hard-earned money –
your
money.
Strong
fiscal
stewardship is enhanced through a series
of
initiatives
we
have
advocated and implemented during our administration. Among them
The Small Business Banking Partnership (SBBP) program invests state deposits into Massachusetts community banks with the understanding that these institutions will use the money to make new loans to small creditworthy Massachusetts businesses. Source: Mass.gov/treasury
include more competitive bidding, pension reform, achieving a higher bond rating for Massachusetts, and a new customer-oriented focus for
Our initiatives have included the Small
the Unclaimed Property Division which has
Business
returned $93M in unclaimed assets to the
program which invests state deposits into
citizens of the Commonwealth during the
Massachusetts community banks with the
last fiscal year.
understanding that these institutions will
Banking
Partnership
(SBBP)
use the money to make new loans to small “Create jobs by moving money from the
credit-worthy
biggest banks in America that have failed
The funds used for the program are reserves
to provide adequate capital to small
that previously were held by financial
businesses into small banks, local banks,
institutions outside of Massachusetts, and in
regional banks and community banks that
many cases, outside of the United States.
are helping creditworthy small businesses
Boiled down, we put Massachusetts money
finance their growth.”
back into Massachusetts banks to help
As Massachusetts recovers from the
Massachusetts
businesses.
create Massachusetts jobs. Banks are encouraged to focus on loans
economic downturn, I work every day to ensure that we continue to create and retain
to
jobs here at home. As a former CEO of a
businesses,
fourth-generation
small
Commonwealth’s Gateway Cities and the
business, I’m fully committed to using my
neighborhoods of Boston. So far, 50 banks
role to promote small businesses, which is a
have signed on to the Small Business
principal engine of our economic growth.
Banking Partnership, and nearly $300
family-owned
women-owned
Go to Table of Contents
and
particularly
minority-owned in
the
34 | P a g e
million
has
been
deposited
in
these
government spending information. You can
institutions. The banks have given out over
search details of state spending, see payroll
2500 loans.
and pension information, identify vendor payments, and explore tax credits.
“Today, public confidence in government
Responsible fiscal stewardship, proactive
is low. Our fellow citizens have serious
measures to boost the economy, and an
doubts
to
open
to
government has been hallmarks of my first
accountability. If we are to restore public
two years in office. We remain committed
confidence, we must dedicate ourselves to
to using the full potential of the office to
serving the public to the best of our ability
build on past accomplishments and to create
and
further successes for the taxpaying public in
about
excellence,
with
our to
the
commitment transparency,
highest
standards
of
and
transparent
approach
to
the years ahead.
integrity.” An open and transparent government not
“It
is
an
honor
to
serve
this
only gives you an opportunity to better
Commonwealth, and I hope to do so by
understand how the public sector operates,
listening to the needs of its people and by
but it also gives you increased confidence in
responding
government overall. Elected officials work
compassion, good judgment, and a sense
for the public, not the other way around.
of humor. I ask each of you to be my
You have the right to understand how
partner, to be our partners in serving the
government
people of Massachusetts.”
is
operating,
what
your
government is spending, and how your government is protecting your interests.
with
vision,
creativity,
Steven Grossman is the State Treasurer of
Integrity, accountability, and transparency
Massachusetts.
are more than just words – they are the standards to which every public official should be held. One of the first initiatives I undertook,
in
partnership
with
the
Executive Office for Administration & Finance and the Office of the Comptroller, has been to create the Open Checkbook Project.
The
Open
Checkbook
(www.mass.gov/opencheckbook) is meant to be a window into state government and to provide the public with access to state
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35 | P a g e
THE view from Europe is in the midst of a financial crisis. To
many Americans, what might be going on across the Atlantic might be a puzzle. Not to worry. The Attleboro Democracy has assembled a small panel of international commentary
from the economic legislative leaders of Europe to explain their perspectives, and the situations of their respective countries to help explain what’s going on around the world. 36 | P a g e
Around The world. GERMANY One of the center-pieces of the Eurozone, Germany is thriving economically, but feels unwanted to pressure to bailout out other Euro-zone members. By Dr. Birgit Reinemund, MdB
Belgium A “small and open economy,” Belgium faces the need for the Euro-zone crisis to be resolved by the members working together. By Senator Ludo Sannen
United kingdom The UK has been hard hit by the global financial crisis, and although like many countries it’s not a Euro-zone member, it too needs to see Euro recovery in order to grow.
By John Thurso, MP 37 | P a g e
GERMANY Germany’s economy is sound and is defying the European debt crisis. By Dr. Birgit Reinemund, MdB The German economy has overcome the financial and economic debt crisis of 2008/2009 far faster than anyone had dared to hope. In 2011, Germany registered real per capita GDP growth of about 3%, which was well above the EU average of 1.3% and the Eurozone average of 1.2%. Besides Germany’s traditionally strong export performance, domestic consumption has also developed into a solid pillar of the national economy. Thanks
to
record
tax
revenue
and
the
lowest
Go to Table of Contents
unemployment
figures
for
38 | P a g e
decades, we seem set to undercut the
crisis in individual Member States of the
structural deficit ceiling of 0.35%, the ‘debt
common currency area as a sovereign debt
brake’ enshrined in the German Constitution,
crisis, we cannot fail to conclude that similar
as early as 2013, which will enable us to meet
reform efforts are needed in the troubled
the criteria of the Fiscal Compact as well. It
countries to make them more competitive. If
was only a few years ago that Germany was
we regard it as a crisis of confidence among
the ‘sick man of Europe’, but now we are the
operators in the financial markets, we must
economic engine of Europe.
display the will to consolidate and give proof
But how did this come about? On the basis of its Agenda 2010, Germany has made
of
Europe’s
political
and
economic
capabilities.
strenuous reform efforts over the past ten
Reforming the labour market and the
years to make its social-security system more
welfare state in order to make individual
effective and its labour market more flexible.
national
These reforms have been trenchant and, for
generating
many people, painful; there have been fierce
systematically reducing sovereign debt in the
political altercations, such as those over the
various Member States are two sides of the
increase in the retirement age to 67. The
same coin. They are lengthy and politically
reforms, however, were necessary and laid the
difficult processes with painful effects on
foundations for the subsequent economic
people’s lives. Yet without these measures it
upturn
in
practising
competitive,
economic
thereby
growth,
and
With
employees
would be impossible to maintain confidence
moderation,
employers’
in the Eurozone and to restore its strength.
Germany. wage
economies
labour costs have remained reasonable in
The Community is called upon to practise
recent years, and companies have remained
solidarity with the countries in crisis, and it
competitive. This is one significant factor in
has been doing so for almost three years
Germany’s emergence from the global crisis
through crisis management, always linked to
with a stronger economy.
contractually prescribed conditions entailing
If we regard the current so-called euro
RANK
COUNTRY
the pursuit of consolidation.
EXPORTS
DATE OF INFORMATION
1
China
$ 1,904,000,000,000
2011 est.
2
European Union
$ 1,791,000,000,000
2010 est.
3
United States
$ 1,497,000,000,000
2011 est.
4
Germany
$ 1,408,000,000,000
2011 est.
5
Japan
$ 788,000,000,000
2011 est.
(Source: CIA World Factbook)
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39 | P a g e
major decisions. This is what
the
European
Treaties stipulate. This is what makes the process of change so interminably arduous. Nevertheless, it is worth all the trouble to shape our common future in a strong Europe, acting together as a league of sovereign states, each of which is responsible for its own national budget. I believe it would be wrong to pool Europe’s debts. Lincoln
As
Abraham
said,
“You
cannot strengthen the weak by weakening the As Europe’s largest economy, Germany undoubtedly bears great responsibility in several respects, namely responsibility for averting harm to our citizens and their savings, responsibility for safeguarding the stability of monetary union and of Europe and responsibility for initiating closer integration of the economies and the financial policies of the 17 Eurozone countries and of the 27 sovereign Member States. The impatience and occasional incomprehension shown by our
strong.” Debt-funded
growth
and
recovery
programmes only exacerbate the underlying problem
of
excessive
sovereign
debt.
Reducing debts and boosting growth and employment through structural reforms in the medium term and emergency aid for countries in difficulty in the short term will overcome the crisis and restore public and market confidence in the euro.
non-European friends and partners in the course of this crisis with regard to the apparent procedural complexity in Europe is understandable. Yet it must be remembered that there is no European government to
Dr. Birgit Reinemund is the Chairwoman of the Finance Committee of
make quick decisions. All negotiations in the European
framework
are
the German Bundestag.
negotiations
involving sovereign states which have equal voting rights and must reach a consensus on
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40 | P a g e
BELGIUM Belgium seeks crisis to solve the Euro-crisis through cooperation of all the member states. Hard as that may be, it can get Europe back on track. By Senator Ludo Sannen Belgium has been hit hard by the global crisis: the fall in world trade has a strong impact on the small, open economy. Belgian exports are mainly oriented towards other euro-area countries, whose import growth has been considerably lower than world trade growth in recent years, and they show a specialization in mediumtechnology goods that are easy to imitate, such as chemicals and steel. The Belgian economy therefore depends for a great deal on economic circumstances in other European countries and thus on fiscal and monetary policy within the Eurozone. Unilateral fiscal expansion is ineffective: the demand effect mostly presents itself externally.
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41 | P a g e
As a small, open economy, increasingly
it perceives a threat to the integrity of the
interdependent with neighbouring Dutch
Eurozone. As economist Paul de Grauwe
and German economies, Belgium greatly
has forcibly argued these past years: when a
benefits from the common currency. For this
central bank announces its willingness to do
reason, the welfare of the Belgian economy
what's necessary to protect the financial
is entirely dependent upon a healthy
stability of its currency, speculators will not
common currency and a strong European
be tempted to speculate on a sovereign debt;
economy. It can be argued that an exit from
they know the central bank's firepower is
the long-term financial and resulting fiscal
unlimited, unlike the funds (the European
crisis that plague the Eurozone are a conditio
Financial
sine qua non for the survival and continued
European Stability Mechanism) that were
thriving of the Belgian economy. Therefore
created by the sovereigns beforehand. The
this piece will roughly outline the necessary
expanded ECB-mandate is however only a
modifications of the Eurozone policy path
crisis resolution mechanism. Long-term
and institutional make-up.
sovereign
In brief, these can be summed up in three
Stability
solvency
existence of
Facility
and
the
and
the
continued
the currency depend on
points: Firstly, monetary union must be
common
completed: the European Central Bank
coordination, which is ensured by the “six
(ECB) must take up the role of lender-of-last
pack”-reforms, the implementation of the
resort. Secondly, political union must be
European Semester and the European Fiscal
strengthened in order to control and
Pact.
coordinate
without political union, which entails, but is
economic
and
budgetary
policies. Last, but certainly not least, the
fiscal
Monetary
supervision
union
cannot
and
survive
not limited to, budgetary oversight.
ever-increasing
Last, but most importantly for the
austerity measures forced upon periphery
political future of the European Union, the
countries,
of
current policy path needs to be reversed.
economic expanssion materializing, must be
Pursuing the current policy path, the burden
stopped.
of adjustment falls squarely on periphery
current
policy path without
of any
prospect
Every month, (excessively) incremental
member states (Greece, Portugal, Ireland,
steps towards the first two policy goals are
Spain), who can only bring their unit labour
being taken. Mario Draghi's announcement
costs in line through internal devaluation
of
Operations”
and are forced to lower their trade deficits
programme is an important achievement:
mainly through lowering imports. The point
on September 6th the ECB announced its
is not that this cannot to a certain extent be
willingness to buy unlimited amounts of
effective, but that the cost is unbearable to
sovereign bonds on the secondary market if
any population: youth unemployment in
the
“Outright
Market
Go to Table of Contents
42 | P a g e
Spain
is
at
50%,
mainline unemployment at 25%. In Greece all indicators of economic activity are down but for net exports. Without keep
effort
the
economic
to
minimal expansion
going that keeps the level of incoming tax receipts at an acceptable level, governments are not able to finance the debt they have built up, much less reduce their country's
debt
Unemployment rates unadjusted by BLS, 10 European Union countries or areas, seasonally adjusted, February 2011–July 2012. (Source: U.S. Bureau of Labor Statistics.)
levels.
They enter an economic death spiral, which
gargantuan German trade surplus, which
is only slowly and painfully reversed, at
currently stands at 16.1 billion â‚Ź and is
great
Understandably,
driven by an undervalued Euro, is a drag on
extremist and nationalist parties are on the
the world economy. There is ample room
rise in all periphery member states, Greece
for symmetrical adjustment. Partly, this is
the most dramatic example with significant
already happening: German imports from
electoral support for proto-fascist and
the euro zone rose 6.7 per cent on the year
communist
in July, compared to a more subdued 1.9 per
human
cost.
parties.
No
democratic
cent overall year-on-year rise. ď ˇ
constituency will stand for this. The
social-democratic
and
socialist
parties within the Eurozone do not assert that the way out of the crisis is additional debt, but maintain that further depressing
Ludo Sannen is the
demand within the Eurozone is nonsensical.
Chairman of the Finance and Economic
Member states need to be given more time
Affairs Committee for the Belgian Senate.
to reach the 3 % percent deficit treshold. Furthermore, fiscal wage expansion in the Eurozone core, first and foremost Germany, can mitigate the pain in the periphery. The
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43 | P a g e
UNITED KINGDOM Our cousins across the Atlantic have been hit hard by the Great Recession too. Their recovery, like ours, is tied with the recovery of the rest of Europe. By John Thurso, MP.
In
2007
UK
national or international economy. That
economy looked solid.
was also the general view of regulators and
London was world No 1
bankers in the UK. With a few notable but
in
services,
unheeded exceptions nobody foresaw the
property was booming and even our
scale of the crash or the depth of the
declining
problems.
financial
manufacturing
the
sector
was
showing signs of sound revival. In May
And nobody in the UK truly understood
2007 I visited Washington with the House
just how dependent the country was on the
of Commons Treasury Select Committee. I
financial
vividly recall our meetings with US treasury
vulnerable the economy was. Over a quarter
secretary Paulson, and later with Chairman
of UK tax receipts were generated by
Bernanke. I asked both the same question –
activities in the city of London, a close knit
what damage would sub prime do to the
square mile of financial and related firms.
economy and where was the risk. Both
The balance sheet of the banking sector was
answered that whilst there may be problems
500% of GDP. Thus the UK’s economy was
in some states there was no big risk to the
acutely vulnerable to a financial crash.
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sector
or
consequently
how
44 | P a g e
Today the UK economy is still suffering the
of the common currency. This massive
aftershocks.
problem is financial but more importantly
In 2010 following the general election
political. Germany and France have too
with no clear winner a coalition government
much invested in the Euro project to see it
was
wing
fail at this time but the uncertainty is putting
Conservative party and the centre-left
the eurozone into recession. This means the
Liberal Democrat party. Always a tense
UK’s largest market is slowing rapidly at
partnership it was founded on the core
just the moment the UK was counting on it
concept of dealing with the economy. The
to drive growth.
formed
between
the
right
outgoing Labour administration had over
On the face of it therefore the UK
seven years created a £120bn annual
economy is in difficulty. However the
structural deficit, one of the highest in
quarterly economic data continues to show
Europe and public spending was spiralling
conflicting evidence. Growth persists at very
out of control. The coalition capped current
slow levels if at all. Yet the labour market
spending and set out a clear plan to
statistics tell a different story with 900,000
eradicate the deficit over 5 years. As a result
new jobs since 2010. As the public sector
the markets which had been worried about
cuts bite, the private sector is creating jobs.
the UK turned their attention to the
Exports and manufacturing growth are
emerging Eurozone countries. The UK’s
persistently better than one might expect.
borrowing
The
rates
have
subsequently
UK
became
a
net
exporter
of
remained consistently low. With growth
automobiles in March for the first time since
projected at around 2% and growing this
1976 and inward investment in engineering
looked a sensible course. The reality has
continues. The truth is that no one really
been very different.
knows what is happening. From QE to
Europe is by far the UK’s largest trading
banking, and from public sector cuts to
partner accounting for around 45% of
investment
exports. The sovereign debt crisis in Greece,
conflicting data. There is however one
Portugal, Spain and Ireland showed the
certainty. If Europe cannot get the Euro
structural weakness of the Euro currency
crisis under control the UK cannot recover.
but looked manageable. The contagion to
Thus
Spain
bigger
Constitutional Court and the European
economies have now put the Euro into
Central Bank will probably be more
doubt. The financially stronger northern
important than anything done in Downing
countries,
Street.
and
Italy,
two
particularly
much
Germany,
are
the
the
statistics
meetings
of
are
the
full
of
German
reluctant to finance those in difficulty, but are being forced to deal with them because
John Thurso is the Chair of the Finance and Services Committee for the British House of Commons
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45 | P a g e
President Obama and the Recovering American Economy The economy has been getting better and the county is moving on the right track, earning President Obama your vote, writes Massachusetts’ Governor. By Deval Patrick
In the so-called battleground states, voters hear a lot from each candidate about why not to vote for the other guy. We get blessedly little of this back-andforth in Massachusetts. It’s not that we are so reliably Democratic. In fact, there are more unenrolled independents in the Commonwealth than there are registered Democrats and registered Republicans combined. It’s certainly not that Governor Romney has a lock on the state he governed for four years and calls home even today. Actually, it’s telling that he seems to have conceded
the
state
that
knows
his
record
and
his
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leadership
most
intimately.
46 | P a g e
At the end of it all, I am not voting against anyone in this race. Despite all the
nuclear arms, and increased international pressure on Iran.
efforts by each campaign to sharpen the
This is the president who, when the
contrasts, I suspect a lot of other Americans
bottom was falling out of our and almost
want a reason to vote for a candidate than
every other state’s budget, helped us support
against one. I am voting for Barack Obama
our public schools, keep firefighters and
– proudly and enthusiastically, I might add
police officers on the streets, and provide for
– because he has the record, the vision and
the folks hardest hit by the recession.
the courage to help us save the American Dream.
This is the president who partnered with states to rebuild roads and bridges, expand
The President’s record is long, impressive and barely told.
broadband to left out communities, and construct high-speed rail.
This is the president who delivered
This is the president who has increased
access to affordable health care to every
support for our warriors in the field and
American in every corner of the country
their families and veterans at home, got
after 90 years of trying.
automakers to agree to nearly double fuel
This is the president who saved the American auto industry from extinction, the
economy
standards,
and
tightened
restrictions on mercury emissions.
American financial industry from self-
This is the president who has cut taxes
destruction, and the American economy
for small businesses and middle class
from full-blown depression, adding 4.4
families 39 times already, saving a typical
million private-sector jobs in the last 28
family $3,600 over his term.
months – more than in the 8 years of the George W. Bush administration.
I could easily go on. The president’s record is even more impressive when you
This is the president who strengthened
consider that he has governed in the face of
laws demanding equal pay for equal work
Republican leaders who openly declare that
for women, and has stood firm against the
unseating this president (by denying him
onslaught against a woman’s right to
legislative victories) is their top priority.
choose.
I also appreciate this president’s vision.
This is the president who ended the policy of “Don’t Ask Don’t Tell,” so that love of country, not love of another, determines one’s fitness to serve.
It’s a vision about putting the American Dream within reach of everybody. President
Obama
believes
that
to
strengthen the economy and reduce the
This is the president who brought Osama
national debt we need growth, and that
bin Laden to justice, ended the war in Iraq,
growth comes from investment, not from
signed a treaty with Russia to reduce
cuts. Every business leader understands this.
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47 | P a g e
The president alone has offered a plan, and
He put his country, not his political
he has executed against it. That plan
future, first. In these days of political
emphasizes education to prepare us for the
bullying, that takes courage. I am voting for
economy
that, too.
and
society
of
tomorrow,
innovation to seize the edge in high growth opportunities,
energy
to
secure
At times of crisis Americans could once
our
be counted on to come together and our
independence and fuel our growth, and
leaders could once be counted on to call us
infrastructure to create the platform for
to that higher cause. There is only one
everything else. That’s the very strategy we
candidate in this race true to that legacy of
have pursued here in Massachusetts and the
leadership, with the record, the vision and
reason we are growing faster than most of
the courage to deliver. That’s why in
the rest of the country. It’s a vision based on
November I am voting for Barack Obama.
expanding opportunity out to the middle class, not just up to the well connected. And
Deval Patrick is
the president has pursued it with discipline.
the Governor of Massachusetts.
I am also voting for this president because of his courage. Political courage is rare in politics. Office holders are often more focused on getting and keeping their job than doing it. They will sometimes avoid the right decision if it’s unpopular. This president has shown real backbone. He stood up to Wall Street on regulatory reform to end the kind of risk taking that plunged the entire economy into crisis. He stood up to his own party loyalists on everything
from
the
elements
of
the
Recovery Act to health care reform. He stood up to Tea Party extremists in Congress on women’s health issues, stem cell research, gutting Medicare and Social Security, and otherwise shredding the social safety net. The president refused to go along with House Republicans’ radical deficit
A copy of this op/ed originally appeared in the Des Moines Register.
reduction plan last summer because doing so would have been irresponsible.
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48 | P a g e
Which side are you on? By Shawn Fitzgibbons Like other moments in our history, citizens have to ask themselves whether they support the working class. Through a
lens of history
concern. Florence’s husband was a union
Campaign 2012 presents a familiar tale of
organizer, and he and his family were being
struggle between citizens and big business.
terrorized by the local Sheriff who was on
The names have changed, but the storyline
the company’s payroll.
hasn’t. Campaign 2012 is an urgent fight by
In her song, Florence asked her fellow
regular Americans to protect their freedom
citizens: Which side are you on? Which side are
to live well. Here in Massachusetts, the fight
you on?
centers
around
the
race
for
Senate,
Elizabeth Warren vs Scott Brown.
It was a time when corporate America ran amok. Robber barons trampled workers
About a century ago a Tennessee woman
in their race to have everything for
named Florence Reece penned a song about
themselves. Empires were built by a few
her family’s struggle with the local mining
while families like Florence’s went hungry.
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49 | P a g e
After the Great Depression and World War
unlimited, anonymous corporate campaign
II, the barons were quieted. A new strong,
spending
middle class grew.
registration programs for poor people in
Today, modern-day barons hope to take us back to that 20th Century heydey. Now,
restrictions
on
voter
Massachusetts. All this, done with a friendly smile.
it’s the Tea Party’s organization, Rupert Murdoch’s propaganda and the Koch
and
Don't listen to their lies. Us poor folks haven't got a chance unless we organize.
Brothers’ money that are trying to tear
Elizabeth Warren is running a campaign
down progress. Their results so far? Voter
to keep Massachusetts and America moving
suppression. Citizens United. Weakened
in
unions. A war on women. And an ominous
Warren, and for the Democratic Party,
beat: get rid of Medicare; end Social
freedom means something very powerful.
Security; abolish the minimum wage; and
Freedom means being able to achieve your
even weaken child labor laws.
dreams, whatever they might be. For many,
Oh workers can you stand it? Oh tell me how
the
right
direction—forward.
For
it might simply mean being able to get a good job. For all, freedom means having a
you can. Senator Scott Brown has a great smile
fair shot at success, and a level playing field.
and seems like everyone’s pal. Like George
This is everything Elizabeth Warren stands
W.
effective
for, and this is what we need now in the US
candidate for the new 21st Century right
Senate to keep our economy and our nation
wing. In reality, Brown is a Trojan Horse
moving forward.
Bush,
he’s
certainly
an
quietly placed in the living rooms of
To get there, common citizens must
Massachusetts families by the robber barons
organize and work together. For our
of 2012. Don’t fall for the ruse. He’s not
numbers can do far more than the millions
your friend. He’s not here to help you.
of dollars we’re up against. The light of each
Scott Brown’s voting record in the Senate
and every one of us, brought together for
is appalling. He has repeatedly voted against
one cause, can continue to be a beacon of
middle-class tax cuts to protect tax shelters
hope that says to the rest of the world that
for the rich. On helping women workers
freedom and democracy still prevail here.
fight for fair pay, he’s voted no. He’s voted to block assistance for unemployed workers again and again. He’s voted to make college more expensive. Brown is first in line to take away affordable health care from
Shawn Fitzgibbons is the co-chairman of the Newton Democratic Party. He can be reached at spfitz@gmail.com or (617) 997-2577.
Massachusetts families. Brown knows this isn’t popular which is why he supports
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50 | P a g e
Who’s Really Fighting for Massachusetts? By Lee Harrison Mass.
boxing
legend
Micky
Ward and his political change in stripes makes one wonder who’s really the fighter for our state, writes one A.D. columnist.
You may have missed it,
out he’s also against gay marriage, and I say
but a few weeks ago Lowell boxer Micky
if you love someone you should have the
Ward dropped Scott Brown. The blow came
same rights no matter who you are.”
very fast, like a hard right to the jaw. And
Clearly, Ward can distinguish between a
just as quickly it’s becoming a watershed
contender and a pretender. He looked past
moment
Scott Brown’s slick TV campaign and saw
in
this
year’s
U.S.
Senate
that the Tea Party Republican is not fighting
campaign. You may remember Micky Ward, who was famously played by former Bostonian
for working people. In fact, Scott Brown is fighting against us.
Mark Wahlberg in the 2010 movie “The
Indeed, Brown has a history of voting
Fighter.” But you probably don’t know this
against us on a host of economic and jobs
tough, no nonsense guy is also a Teamster –
issues. He voted twice against extending
and that was part of Brown’s problem.
Bush’s tax cuts for the middle class and
While Brown was preparing to fly to
ending them for people making more than a
Lowell from the Tea Party Republican
$250,000 a year. He even voted against
convention to accept Ward’s endorsement,
ending tax cuts for millionaires!
Micky Ward was learning the truth about
So,
Scott
Brown’s
warnings
about
Scott Brown. When he did, he shifted his
“taxmageddon” ring as hollow as former
stance and TKO’d Brown.
Boston Mayor Ray Flynn’s claims that
“I can’t support Scott Brown. I just can’t
Brown is “independent.” Of course, Flynn
do it,” Ward said. “I found out Scott is
does say Brown “is a guy you can do
anti-union and I’m a Teamster guy. I found
business with,” which is true if you happen
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51 | P a g e
to run a major oil company: Brown voted
would
against a bill to reduce the federal deficit by
education jobs, a bill paid for with a 0.5%
closing special tax loopholes benefitting the
surtax on incomes over $1 million. He also
world’s five biggest oil companies.
voted against bills that would have created
Then there’s financial regulation. After
have
thousands
supported
of
up
to
Massachusetts
6,300
jobs
by
the 2008 financial disaster, only a fool or a
upgrading our transportation and school
hedge-fund manager would object to reining
infrastructure.
in the casino-like behavior of America’s
infrastructure bank, was supported by both
major financial institutions. Brown claims
the national Chamber of Commerce and the
he voted for financial regulation, which he
AFL-CIO.
One
bill,
a
national
did, but only after using the leverage of his
In stark contrast, Elizabeth Warren not
41st vote to gut enforcement mechanisms in
only wants to invest in our future by
the bill, essentially moving costs from those
rebuilding roads, bridges, schools, sewer
who created the financial mess to people
and
like us. Then he had the brass to brag that
broadband internet service but she’s also
he had been the deciding vote to pass it.
committed to strengthening workers’ and
But that’s not all.
According to The
water
systems,
and
expanding
women’s rights. And, remember, she’s
Boston Globe, since passage of that weakened
already
bill, Brown has worked tirelessly to block its
dedicated to protecting the middle class
full implementation. His reward: $2 million
from predatory banks and credit card
in campaign donations from Wall St. and
companies,
an offer from NYC Mayor Bloomberg to
Protection Bureau.
help him raise even more money in the Big Apple. Some fighter for the middle class.
created
the
a
government
Consumer
agency
Financial
So, if you’re wondering who’s really fighting for Massachusetts, think about
Brown’s record of fighting against us
Micky Ward. Mickey liked Brown's “truck
doesn’t end there. He voted eight times
and barn coat” regular-guy image, but once
against extending unemployment aid –
he looked a little harder at how Brown
which led to the loss of benefits for 30,000
votes, Mickey changed his mind – and he’s
Massachusetts residents, including teachers
not alone: The more voters learn about
– and he voted to cut Pell Grants for
Brown's position on issues, the more they
135,000 Bay State students. Speaking of
are moving to support his opponent,
teachers, in 2010, Brown voted against a bill
Elizabeth Warren.
that would have saved nearly 3,000 teaching positions in Massachusetts. A year later, he voted to filibuster the Teachers and First
Lee Harrison is a member of the Mass. Democratic State Committee and former Berkshire Brigades Chairman.
Responders Back to Work Act, which
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52 | P a g e
Humor & SaTire With all the laughs fit to print.
SPECIAL REPORT - Candidates Spend Millions of Dollars Interrupting Television Shows ATTLEBORO, MA – In an increasingly close election year for the Massachusetts junior United States Senate seat, both Republican Scott Brown, the incumbent, and Democrat Elizabeth Warren, are pouring millions of dollars into television advertising for their respective campaigns. As television watchers are discovering around the state, their favorite shows commence their commercial breaks only to feature two or three advertisements over and over again for hours on end. An expert television watcher, who refused to be identified, gave noted insight into this phenomenon. “Normally, I might have the TV on all day, and they’re might be about fifty different commercials for products I’ll never buy or organizations I’ll never give money too. Instead, I’m lucky these days to see ten different ads altogether.” When asked to describe how the ads made him feel about the particular candidates, our expert replied that he’d forgotten who they were already. Nancy Shane, a South Attleboro mother of three, felt positively about the increased level of advertising. “It’s good to see these two people trying to convince us to vote for them by showing
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53 | P a g e
their ads as much as possible. My youngest son, Jimmy, he’s becoming really politically astute. He usually changes his mind on what candidate he supports, depending on whose ads he’s seen more that day. Right now, the sixty-four Scott Brown ads he’s seen today have given Brown the edge.” John, Nancy’s husband, shrugged his shoulders at the advertising. “It’ll be over soon and tv will be normal again.” One media professor at Harvard’s Bruce Jenner School of Entertainment however, suggests this might be more than a temporary shift. “We are beginning to finally see the penultimate death of television,” remarked Dr. Austin Lionel, Ph.D. “Not only are Americans shifting their viewing habits to more internet and on-demand based formats, but these political ads are sapping the joy and life of television for many. I mean, seriously. Every time I try to watch America’s Got Talent, the show’s interrupted every thirty-nine seconds by either Nick Cannon’s commentary or a plea for my vote.” The candidates’ spokespersons both defend the massive amounts of campaign advertising. “Senator Brown is trying to present his case for reelection to the people of Massachusetts with these ads,” said Brown press secretary Boo-Boo Blue. “Yes, we could probably get rid of the ad where he paints a red fire decal on his truck, or the eleven minute ad of him hitting two-hundredtwenty-two consecutive half-court shots on the basketball court. But overall, these are important.” Warren’s spokesperson responded similarly, along with trying to dispel doubts that Warren’s ads do not feature her famed golden retriever, Otis, more prominently. “Tv ads are the best way to reach potential voters for Elizabeth Warren,” said Mike Silverman. “And no, Otis, is not to be given more screen time during commercial breaks. The first time we put him in there, we received complaints that he was not a focal point of the ad, but instead the emphasis was on the middle class. When we tried to fix that, critics suggested we just scrap the idea of Elizabeth pitching her ideas to voters and instead feature 30 second ads of just Otis playing fetch.” While both candidates may not agree on political positions, both can agree on this: they will definitely flood every Patriots game with unlimited advertising.
Andrew Meehan, Editor of the Attleboro Democracy, contributed to this fictional report.
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THE POLITICS OF CULTURE Movies. Books. Television. And their politics.
THE DARK KNIGHT RISES And the Redemption of the Rich The latest Batman blockbuster gives the wealthy a way of being heroes. By Andrew Meehan In America, as the winds of election season blow fiercer, the candidates for President have sparred over a seemingly timeless battle: whether the rich are too wealthy and powerful, or whether society is attacking those with great financial success. In much of classic American cinema, the villains often tend to be the rich. One only need think of the corrupt Mr. Potter in It’s A Wonderful Life, or Gordon Gecko in Wall Street. American culture embraces the rags-to-rich story, and more egalitarian heroes like Robin Hood. Or so we think. Enter The Dark Knight Rises.
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55 | P a g e
In the Dark Knight Rises, the final installment of acclaimed filmmaker Christopher Nolan’s Batman trilogy, some of the biggest victims are some very rich and powerful people – as is of course, the film’s hero, Bruce Wayne,
the
alter
ego
of
Batman, played wonderfully by actor Christian Bale. In this third
Nolan
Batman
film,
Gotham City and its financial elite come
greater twist, the main hero of this story is
under
the richest of them all.
the
attack
of
a
group
of
revolutionaries led by the menacing, maskwearing Bane (played by Tom Hardy).
As evidenced by the success of the Nolan Batman trilogy, it is Batman who currently
Bane’s group first launches an assault on
stands highest in the American pinnacle of
Gotham’s stock exchange, holding its
Superheroes - he’s more popular than
traders at gun-point, and robbing some of its
Spiderman, who as Peter Parker is a nerdy
assets. When a more blue-collar police
teenager from Queens, New York who’s
officer arrives at the scene, a trader of the
humbly raised by his aunt and uncle, or
exchange decries that, “everyone’s money”
even Superman, who is raised by his
was being robbed, to which the officer
Earthling foster-parents on a farm in
replied, “My money is under my mattress.”
Smallville, Kansas. It’s Batman, whose
Such a comment, suggesting a huge
alter-ego, Bruce Wayne, is a billionaire
disconnect between rich and poor, came at a
playboy. Bruce Wayne is the 1% of the 1%.
moment when innocent people were in fact
Why do we love Batman? Because we
in jeopardy of being robbed – not to
don’t define Bruce Wayne by his wealth.
mention, being mortally harmed.
We define him by how he uses it. The Dark
Such problems persist when Bane, upon
Knight Rises promotes the idea that anyone
seizing control over much of Gotham’s,
can be a hero, as symbolized by Batman
sends mobs to seize many rich people out of
being anonymous to all but a few. He could
their homes, seize all of their wealth, and
be anybody. Yet the reality is of course
subject them to a “kangaroo court” where
different. No one but a rich man like Wayne
their only options are death or exile. Unlike
(with special training of course, from Liam
in many examples of American cinema, the
Neeson’s Ra’s al Gul in the first movie)
rich are victims, not villains. And in an even
could be the Caped Crusader. Bruce Wayne
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56 | P a g e
has no superpowers, only his fighting skills,
an even
greater threat looming over
wits, and all the expensive gadgets Lucius
Gotham, Batman is implored by Anne
Fox (played by Morgan Freeman) can give
Hathaway’s Selina Kyle (aka Catwoman) to
him.
run away from Gotham’s endangered
Conservatives often lavish the rich with
residents and save himself. “You’ve given
praise as job creators; liberals demand that
these people everything. You don’t owe them
the rich pay their fair share of taxes like
any more.” And Batman gasps back with a
everyone else. What’s implied by both the
hint of martyrdom, “Not everything. Not
praise and scorn is that something is expected
yet.”
from the rich. With wealth comes power, and
Obviously, no one should expect any
with power, comes an obligation to use it
billionaire to dress up as a bat, and fight
for good. Bruce Wayne uses his power to
crime and corruption as a vigilante. That’s
become Batman, as a means of fighting
not the point. Bruce Wayne is willing to
injustice and crime,
sacrifice not only
as a means of helping
his fortune, but his
Gotham. He gives
life if need be, for
himself to his city.
the
As the Nolan film
sake
of
his
fellow citizenry.
trilogy makes clear,
As the country
it’s not philanthropy,
debates the role of
or
the
generosity,
but
rich,
the
duty. At the end of
emphasis is often
the
on the middle class,
first
movie,
Gotham police officer Jim Gordon (played
who are being squeezed by economic
by Gary Oldman) tells Batman after he
disorder. But the rich should get their
saves the city from a chemical gas attack, “I
attention, not as villains, but as potential
never said thank you.” Batman replies,
heroes.
“And you’ll never have to.” At the close of
depending on how they use their power.
the blockbuster second movie The Dark
That’s what the example of The Dark Knight
Knight, Batman and Gordon look upon the
Rises shows us.
deceased former Gotham District Attorneyturned-murderer Harvey Dent, and Batman demands to take the fall for Dent’s crimes
The
wealthy
can
be
heroes,
Ultimately, we will define those who have wealth by what they do with it.
saying, “I’m whatever Gotham needs me to
Andrew Meehan is the Editor
be,” before fleeing into the night. And in a
of the Attleboro Democracy.
crucial scene in The Dark Knight Rises, with
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THE CAMPAIGN AND AMERICAN POLITICS How the new crude comedy hit shows how silly our elections can really be. By Paul Heroux.
The Campaign is a great movie for
something he is not. However, as the movie
the times. As America watches how
progresses, it becomes apparent that Marty,
political campaign contributions influence
the simple idiot he is, may actually be
how we see our options, in The Campaign
preferable to the seasoned politician.
corporate America is decidedly looking out
However, a turn in the plot finds that Marty is becoming someone he is not and
for its own interests. The Campaign takes place in a small town
Cam becomes someone who will win at any
that could be anywhere USA making a
cost. A negative attack ad, which no one
mockery
and
approved of, gives one candidate a bump in
Democrats alike. One very pleasing aspect
the polls; this is meant to be a slap in the
to this movie is that not all of the funny
face to America that we encourage dirty
material was revealed in the movie trailer.
campaigning by rewarding it in the polls.
of
both
Republicans
the
From the sound bites of ‘god, guns and
incumbent US Representative who is an
country’ and pandering to every group Cam
insincere rising star in his political party
speaks to, to the campaign consultant who
who doesn’t know the issues but maintained
is hired to make Marty Huggins look like
a high level of popularity until he left an
something he is not, The Campaign makes an
sexually
appropriate
Cam
Brady
explicit
(Will
Ferrell)
phone
call
is
on
the
satirical
mockery
of
our
answering machine of a Christian family
contemporary electoral process. It is a good
sitting down at dinner. Cam was nearly
example of art imitating life.
going to run unopposed when two CEOs
Only at the end of The Campaign, when
decide that it was in their best interest to put
one
a Member in Congress who they believe
moneyed interests, put aside his own legacy,
they can better manipulate.
do we see a glimmer of hope that integrity
Marty Huggins (Zach Gailifianakas) is a loveable idiot. The son of a very rich and politically
well-connected
businessman,
Marty is a simple and honest man. But when Marty is selected to be the stooge needed by corporate America, Marty is manipulated inside and out to appear to be
candidate
decides
to
ignore
the
may be restored to the Congress and the electoral process. Paul Heroux is a candidate for State Rep in the Second Bristol District (Attleboro). Paul is a master's graduate of the London School of Economics and a master's graduate of the Harvard School of Government. Paul has written extensively on macroeconomic policy and is a consultant in private practice on program cost-benefit analyses. Paul can be reached at paulheroux.mpa@gmail.com.
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The ediTor’s desk To submit a letter to the Editor, please send an email to the Attleboro Democracy at attleborodemocracy@gmail.com Thank you for taking the time to read the latest edition of the Attleboro Democracy Magazine. Our pledge to our readers is that although this magazine was edited and put together by Attleboro Democrats, we aspire that anyone of any political affiliation can read and enjoy the magazine. The Attleboro Democracy is a magazine for everybody, not just one faction or party. This issue has focused on the economy. Over the last four years, America and the world has trodden through “The Great Recession” that began amidst the financial collapse on Wall Street in 2008. Unemployment has been up, industries like building and construction down, and the American people look anxiously to the future. This issue has thus been designed to help offer solutions and examples of leadership that have positively affected Attleboro, Massachusetts, and the country. It has also, we hope, broadened your view about the economy of the world, especially given the international panel we were privileged to feature in this issue. We hope you enjoyed the work of our contributors. Our stated goal is: Striving for a Better Public Debate. As long as we keep writing, working, and thinking over the great issues of the day, that’s what we’re going to keep trying to do.
Want more Democracy? You can find archived issues of the website of the Attleboro Democrats: http://www.attleborodemocrats.org/ See our Winter 2012-2013 special issue on Election Season.
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One Year of Attleboro Democracy As we noted in the previous issue on Health Care, the Attleboro Democracy, with this publication of this issue on the economy, has just marked its one year anniversary of being formed. The Attleboro Democracy has grown rapidly from its inception, starting as a humble but adept newsletter-like ‘zine, then growing in content, breadth and depth, to its current issue, where we hope to set and attain a high standard. And we’re only just getting started. Get ready for some exciting things to happen in the realm of the Attleboro Democracy Magazine during Year 2.
To all the readers, contributors, and On
all others who helped build up the Attleboro Democracy Magazine over the last year: Thank you.
-Andrew Meehan, Editor of the Attleboro Democracy
-Ac
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