LETTERS: The power of the purse in the U.S. economy

Power of the purse

Robert Reich dramatically told about the influence of transnational corporations (like BP) on our politics and economy, and their total freedom from any constraints ["The final lesson of BP? Money talks," Opinion, Aug. 12]. What can we consumers do? Easy! Don't buy BP gasoline - even if their gas prices drop to 10 cents below the competition. Income is the only thing that such corporations understand. It's also the only influence that we helpless consumers can have.

Robert Bruce

Little Neck

Our country's 'service economy'

Regarding "Looks like it's time for a new moral compass" [Opinion, Aug. 13]: I agree that many of today's manufacturing jobs take skills, and appreciate the reference to 25 percent of humans having IQs below 90. But I disagree that the jobs for those 25 percent have dwindled; to the contrary, they have multiplied in today's service economy: think McDonald's and all the other jobs in retail.

At the same time, over the past 40 years, the number of college-educated Americans has increased dramatically. As a result, the demand for jobs that require higher education exceeds their supply, and many of the jobs that would go to the 25 percent are being taken by the overeducated.

Barring a worldwide reduced workweek, let me suggest two short-terms solutions: One, reduce our humongous trade deficit; and, two, strengthen the hand of unions to raise the wages of all. The first would lead to an increase in manufacturing jobs, and the second to an increase in purchasing power, which would also lead to an increase in jobs.

Keith Grubman

North Bellmore

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The U.S economy will never see full employment as long as we think we can continue to be a "service economy." The feds can put out stimulus checks, stimulus programs, tax credits for buying energy-efficient items and bailouts - but none will work. The answer is very simple: Buy American. It's not protectionism, nor is it anti-competition and we don't need the government to legislate it.

Consumers are powerful. Their buying decisions shape the economy. If the majority of consumers redirected money they are already spending to domestic products, the economy would immediately begin to shape up. Consumers should reward companies that choose to keep production here.

Jason Coryell

Valley Stream

Those who can't do, teach

Christina Romer is quitting as chair of President Barack Obama's Council of Economic Advisers to teach economics at the University of California, Berkeley ["At home," News, Aug. 6]. Wow, what is she going to teach? How to lose jobs, raise the unemployment number and stay in a severe recession and possibly a double-dip recession? Berkeley must be thrilled.

John Hales

North Massapequa