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Dear friends of VTIPG and the Community Change Collaborative,
We share five articles each week that we find timely and meaningful that address significant concerns related to the state of our democracy and civil society. We aim to offer pieces that illuminate myriad dimensions of our country's policy and governance challenges and the state of social norms that sustain the possibility of addressing those concerns. Please note, the views expressed in these essays do not necessarily reflect the perspectives of VTIPG faculty or staff or of Virginia Tech. We upload these articles and stories to our website. You may find that archive at News and Opportunities at http://ipg.vt.edu.
If you would like to suggest an article for consideration, please contact the editor at the address below.
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Our first piece this week comes from CNN, and discusses the Federal Reserve's recent decision to reduce interest rates by one-half a percentage point.
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A second selection, from Vox, highlights the reasons and motivations for the ongoing strike by 33,000 unionized Boeing workers.
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The Guardian published our third story, an opinion essay that contends that social democratic policies are needed to revitalize the American dream.
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A fourth article, from POLITICO, profiles the proposed Regional Technology and Innovation Hubs program, and suggests reasons for why it has now stalled in Congress despite initially garnering bipartisan support.
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Last, we feature an NPR story that discusses China's decision to raise the retirement age for its workers as a response to the nation's shrinking population and rapidly aging work force.
Brief synopses of these articles appear below. We hope the perspectives they offer encourage reflection and conversation!
Best wishes,
Billy Parvatam
VTIPG Communications Coordinator
pbilly97@vt.edu.
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Photo: Federal Reserve Chair Jerome Powell. Credit to Wikipedia. |
The Fed is finally about to cut interest rates. What took so long?
CNN Business reporter Bryan Mena analyzed the Federal Reserve's recent decision to cut interest rates for the first time since 2020 in this story. He argued that The Fed did not reduce rates sooner because its members feared doing so would prolong the country’s bout with significant inflation. Despite its action this week and despite signaling it is likely to cut rates again in coming quarters, the central bank refused to release a firm calendar for those possible future choices. Mena commended Fed Chairman Jerome Powell for not bowing to political demands from members of either political party as he has led the Bank in its efforts to lower inflation and enable an economic “soft landing.”
Mena, B. (2024, September 16). "The Fed is finally about to cut interest rates. What took so long?" CNN. https://www.cnn.com/2024/09/16/economy/interest-rate-cut/index.html
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Photo: Boeing machinists picket a Boeing factory. Credit to Vox. | |
Why 33,000 Boeing workers are on strike
Vox reporter Ellen Ioanes discussed the ongoing strike against Boeing involving 33,000 Seattle and Portland-based members of the International Association of Machinists and Aerospace Workers (IAM) in this article. Union members are arguing that the 25 percent wage increase proposed by Boeing across the next four years is not enough to offset skyrocketing costs of living in those cities. The IAM is calling for a 40 percent increase during the period instead. The union is also demanding that future Boeing aircraft be manufactured in unionized shops in the Pacific Northwest. Ioanes argued that the strike could indeed hurt the already reeling company economically, which stands to lose as much as $1 billion a week if the work stoppage becomes a prolonged one.
Ioanes, E. (2024, September 13). "Why 33,000 Boeing workers are on strike." Vox. https://www.vox.com/policy/371870/boeing-strike-iam-washington-union-labor-737
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Photo: The U.S. Capitol. Credit to Vox. | |
The American Dream is dead for many. Social democracy can bring it back
Bhaskar Sunkara of The Guardian argued in this piece that the country’s citizens do not believe that the American dream is alive and well, and that the nation’s lawmakers should focus on reviving it. He contended that the United States should pursue social democratic policies, including taxation choices that ensure universal healthcare. He also suggested the national government should increase childcare, housing, and trade and vocational schools support as well as ensure more equal financing for public schools. Sunkara also called on the federal government to support worker unionization and domestic manufacturing. Overall, the opinion columnist proposed that a vision of politics in which the moral worth and welfare of each American is valued in public policy decisions will result in a healthier and more optimistic society.
Sunkara, B. (2024, September 16). "The American Dream is dead for many. Social democracy can bring it back." The Guardian. https://www.theguardian.com/commentisfree/2024/sep/16/social-democracy-america
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Photo: A truck is parked among brine evaporation ponds at a lithium facility in Nevada. The state's hub won $21 million to advance lithium ion and electric vehicle batteries. Credit to POLITICO. | |
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The White House launched a politically potent high-tech program this year. There's a reason you haven't heard of it
This piece by Christine Mui and Mohar Chatterjee profiles the Regional Technology and Innovation Hubs program, part of the 2022 CHIPS and Science Act aimed at bringing tech manufacturing jobs back to America. The policy called for establishing innovation centers in at least 20 locations across the country, spending $10 billion during the next five years to turn those areas into global hubs for technology. The authors argue that although the idea received initial bipartisan support, funding for it has stalled in recent months in Congress due to a lack of effective messaging by the administration and its absence from the national campaigns during this election season.
Mui, C., & Chatterjee, M. (2024, September 16). "The White House launched a politically potent high-tech program this year. There's a reason you haven't heard of it." POLITICO. https://www.politico.com/news/2024/09/16/biden-tech-powerhouses-hubs-00179016
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Photo: Traffic in Beijing. Credit to National Geographic. | |
China is raising its retirement age, now among the lowest in world's major economies
This NPR article discussed China's recent decision to raise its retirement age for workers in an effort to address the impact of its declining population and aging work force. For men, the retirement age will now be 63 years, and for women it will be between 55 to 58 years depending on their job. The policy change will be implemented during the next 15 years beginning in January 2025 and will take effect based on birthdates. Pressures on social benefits, including pensions and social security, prompted the policy shift. China is projected to have 400 million people older than the age of 60 by 2035, a figure that exceeds the entire population of the United States.
The Associated Press. (2024, September 13). "China is raising its retirement age, now among the lowest in world’s major economies." NPR. https://www.npr.org/2024/09/13/g-s1-22510/china-retirement-age
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