The American Jobs Act 2011 An elixir or placebo?

The American woeful economic fortunes has led to a rethink of the American established policies on the economy. The restructure of the American fiscal policy and financial policy has been transparent from the polemic politics in Congress. American hegemonic leadership is considered as being a very poor role model for the free world. The global perceptions are shaped by the recent global financial crises which had inadvertently begun in America with the Lehman Brothers Subprime lending debacle. The world had recovered somewhat from the 2009 GFC ever so tentatively. This fragility has become more endemic with the 10 per cent unemployment rate which was reduced by 1 per cent in 2011. The stagflationary impact of the post GFC fallout has become an urgent policy revolution by a not so Lindblomian muddling through policy formulation and evaluation by the Capital Hill Wonks advising their political masters, but, rather a more comprehensive model of an overhaul of the machinery of labour market policy with the primary aim of reducing the unemployment rate. Thus, the elixir for job creation for American industrial relations policy. The white paper has thus been drafted and was submitted to Congress and for the world to scrutinise. Will this formulae work to reconcile the disparity between the economic stability and growth on the one hand and the reduction of  inflation, whilst stimulating employment, on the other. A tough ask if you’re wanting to have your cake and eat it at the same time. A compromise of austerity government measures in the public sector and a hands off regulatory measures, ie, payee tax, a carrot in a stick for business entrepreneurs to take on more staff, the crux of the The American Jobs Act 2011 legislation. will this fundamental industrial relations legislation revamp a hitherto voodoo economics response by the GOP and Republican incumbents of previous administrations whould mean a much more confronting address to a most direct problem to America’s very mediocre hegemonic performance as viewed from afar.

Fa’afeatai lava.

Tim Tufuga

Brisbane Australia

 

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