As of early summer the economic outlook for the rest of 1997, as portrayed in the major media, could hardly be brighter. “Strong growth with little unemployment and low inflation doesn’t have to peter out….Could it possibly get any better than this?” exults Business Week (January).…Up to a point this is clearly a case of déjà vu all over again. A “new era” was widely and enthusiastically proclaimed by professors, pundits, and plain people as the stock market boom of the 1920s neared its peak. A few months later the market collapsed, and the greatest depression in U.S. history began. The big question now is whether the rest of the scenario of the 1920s and the 1930s is likely to repeat itself. The answer of the media and Wall Street and probably of plenty of plain people too is a resounding NO.
Volume 49, Issue 03 (July-August)
After a long period of sustained attack by governments of various stripes, a steady deterioration of working and living standards, and declines in membership and militancy, there are encouraging signs that organized labor is moving again. This may come as a surprise to many, not least on the left, who have long since written off the labor movement as an oppositional force; and it may begin to challenge some of the most widespread assumptions about the nature and direction of contemporary capitalism, assumptions often shared by activists and intellectuals on the left as well as the right.…Although it is, of course, too early to make big claims about this trend, it does seem to be a good moment to take a close look not only at these new signs of activism but also at the nature of labor today and at the environment in which the labor movement now has to navigate.