Labor’s Demise Is America’s Demise
Thoughts for Labor Day by Paul Craig Roberts
The labor unions provided the Democratic Party with a financial base in labor that served as a countervailing power to the Republican base in manufacturing and finance.
Whether it was a plot or unintended consequence, jobs offshoring wrecked the industrial and manufacturing unions and destroyed the Democrats’ independent financial base.
The two-party system that had maintained a reasonable balance was transformed into a one-party system in which both parties were dependent on the same monied interests and thus answered to the same masters.