Profits Without People

Phi Delta Kappan

Volumn 79, Issue 2, 1997, Pages 104-111

  Boutwell, Clinton E ^a  

^a EPIC Associates   (United States)

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[No Author keywords available]

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EID: 0346540681     PISSN: 00317217     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (49)

1. Louis V. Gerstner, Jr., et al., Reinventing Education (New York: Dutton. 1994).
2. "The Big Picture Out There: The Percent of U.S. Corporate R&D Spent Overseas," Business Week, 18 April 1994, p. 8.
3. "Big Blue's White Elephant Sale," Business Week, 20 February 1994, p. 36; and Forbes, 25 April 1994, p. 13.
4. "Big Blue's White Elephant Sale," Business Week, 20 February 1994, p. 36; and Forbes, 25 April 1994, p. 13.
5. For details, see Michael A. Bernstein and David E. Adler, eds., Understanding American Economic Decline (New York: Cambridge University Press, 1994).
6. David Friedman, "Why the Big Apple Is No Economic Model for LA," Los Angeles Times, 12 June 1994, p. M-1.
7. Robert E. Kutscher, "Historical Trends, 1950-92 and Current Uncertainties," Monthly Labor Review, November 1993, p. 7.
8. "Downsizing Continues," Business Week, 19 January 1993, p. 26.
9. "For a Pink Slip, Press 2," Business Week, 27 November 1995, p. 48; and "AT&T Offers Buyouts to More Than Half Its Managers," Los Angeles Times, 16 November 1995, p. D-1. Primarily managerial, professional, and white-collar positions were cut, positions that represent a savings of $50,000 each. Upon hearing the announcement of AT&T's cuts, Wall Street investors pushed up the price of the company's shares by $1.25 - to $64.50.
10. "For a Pink Slip, Press 2," Business Week, 27 November 1995, p. 48; and "AT&T Offers Buyouts to More Than Half Its Managers," Los Angeles Times, 16 November 1995, p. D-1. Primarily managerial, professional, and white-collar positions were cut, positions that represent a savings of $50,000 each. Upon hearing the announcement of AT&T's cuts, Wall Street investors pushed up the price of the company's shares by $1.25 - to $64.50.
11. Jube Shiver and Karen Kaplan, "AT&T Split into Three Firms to Cost 40,000 Jobs," Los Angeles Times, 3 January 1996, pp. A-1, A-9; and "The Bloodletting at AT&T Is Just Beginning," Business Week, 15 January 1996, p. 30.
12. Jube Shiver and Karen Kaplan, "AT&T Split into Three Firms to Cost 40,000 Jobs," Los Angeles Times, 3 January 1996, pp. A-1, A-9; and "The Bloodletting at AT&T Is Just Beginning," Business Week, 15 January 1996, p. 30.
13. "Strong Employment Gains Spur Inflation Worries," Washington Post, 17 May 1994, pp. A-1, A-9.
14. "Use of Contingent Workers Rising, Report Says," Los Angeles Times, 15 September 1995, p. D-4.
15. Sometimes outsourcing work can be deadly. Prior to the airline crash that killed more than a hundred people, ValuJet had its planes maintained by outside contractors, who apparently failed to do high-quality work. The airline temporarily shut down after the Federal Aviation Administration questioned its maintenance quality control. See "FAA Shake-Up Is Scheduled, Hinson Says," Los Angeles Times, 18 June 1996, p. A-15.
16. George T. Silvestri, "Occupational Employment: Wide Variations in Growth," Monthly Labor Review, April 1994, pp. 58-84. Entry-level jobs, the least skilled of all, may also be in short supply soon. The Bureau of Labor Statistics forecast suggests that, when the new welfare law forces recipients to get jobs after two years on welfare, there may not be any jobs for them to get, regardless of how hard they try. See "Welfare Bill May Deplete Job Supply," USA Today, 28 July 1996, p. 27.
17. George T. Silvestri, "Occupational Employment: Wide Variations in Growth," Monthly Labor Review, April 1994, pp. 58-84. Entry-level jobs, the least skilled of all, may also be in short supply soon. The Bureau of Labor Statistics forecast suggests that, when the new welfare law forces recipients to get jobs after two years on welfare, there may not be any jobs for them to get, regardless of how hard they try. See "Welfare Bill May Deplete Job Supply," USA Today, 28 July 1996, p. 27.
18. "Downsizing Continues," Business Week, 19 January 1993, p. 26.
19. Daniel S. Greenberg, "So Many Ph.D.s," Washington Post National Weekly Edition, 5-12 June 1995, p. 24.
20. Ibid.
21. Boyce Rensberger, "No Help Wanted: Young Scientists Go Begging," Washington Post National Weekly Edition, 9-15 January 1995, pp. 5, 7.
22. Greenberg, op. cit.
23. Lee Dye, "Blame Federal Grant System for America's Ph.D. Glut," Los Angeles Times, 29 March 1995, p. D-4.
24. Ibid.
25. Jerry Glasser, "Nascent MBAs Take Their Show on the Road," Business Week, 5 September 1994, p. 37.
26. Ibid.
27. Meg Sommerfeld, "Upper-Level Math, Science Enrollment Is Up, Study Says," Education Week, 11 October 1995, p. 10.
28. Ibid.
29. Debra Viadero, "Studies Chart Big Boost in Course Taking," Education Week, 30 September 1995, pp. 1, 16.
30. "Moving Ahead," Education Week, 13 September 1994, p. 4.
31. Commission on the Future of Worker-Management Relations: Fact Finding Report (Washington, D.C.: U.S. Departments of Labor and Commerce, May 1994), pp. 12, 17. These figures are for male workers. The 17% drop in wages was partially offset by the entrance of women into the work force in great numbers. Women's wages rose from $21,530 in 1971 to $23,161 in 1990.
32. Dean Baker and Lawrence Mishel, "Profits Up, Wages Down," Economic Policy Institute, Washington, D.C., September 1995, p. 5.
33. Stanley Aronowitz and William DiFazio, The Jobless Future (Minneapolis: University of Minnesota Press, 1994), pp. 325-27.
34. "Job Market Jitters," Education Week, 10 November 1993, p. 3. A more recent study, which indicated a tiny 1.1% increase in hiring of new college graduates, states that the increase was the lowest in 14 months and came nowhere near to making up for the huge loss of job opportunities reported by the Census Bureau. See "Downsizing Slows but Sheepskin Set Is Still Scrambling," Business Week, 22 August 1994, p. 20.
35. "Job Market Jitters," Education Week, 10 November 1993, p. 3. A more recent study, which indicated a tiny 1.1% increase in hiring of new college graduates, states that the increase was the lowest in 14 months and came nowhere near to making up for the huge loss of job opportunities reported by the Census Bureau. See "Downsizing Slows but Sheepskin Set Is Still Scrambling," Business Week, 22 August 1994, p. 20.
36. Mary McClellan, "Why Blame the Schools?" Research Bulletin No. 12, Phi Delta Kappa Center for Evaluation, Development, and Research, Bloom- ington, Ind., March 1994, pp. 1-6.
37. Aaron Bernstein, "This Job Market Still Has Plenty of Slack," Business Week, 24 June 1996, p. 36.
38. Ibid.
39. Neal H. Rosenthal, "The Nature of Occupational Employment Growth, 1983-1993," Monthly Labor Review, June 1995, pp. 45-54.
40. Ibid.
41. Aronowitz and DiFazio, pp. 325-27.
42. Jeremy Rifkin, The End of Work: The Decline of the Global Labor Force and the Dawn of the Post-Market Era (New York: Tarcher/Putnam Books, 1995), pp. 3-15 and passim.
43. Ibid.
44. Herrhausen Society, Work in the Future (Stuttgart, Germany: Schaffer-Poeschel Verlag, 1994), p. 4; see also Employment Outlook (Paris: Organisation for Economic Co-operation and Development, July 1994), chap. 2.
45. Herrhausen Society, Work in the Future (Stuttgart, Germany: Schaffer-Poeschel Verlag, 1994), p. 4; see also Employment Outlook (Paris: Organisation for Economic Co-operation and Development, July 1994), chap. 2.
46. "Labor Markets Hit a Slow Boil but Inflation Keeps Its Cool," Business Week, 22 August 1994, p. 21. The high-growth jobs were in such service areas as personal supply, health care, and the retail trade, while hiring in the juicy jobs in finance and manufacturing was slight.
47. Lester C. Thurow, "America Reverts to the 19th Century," Los Angeles Times, 29 January 1996, p. B-9.
48. The year 1992 is used here because that is the base year the Bureau of Labor Statistics established for its very precise projection of employment opportunities through the year 2005.
49. Silvestri, pp. 52-53.