The Socialist Program with Brian Becker

Wall Street’s War Against U.S. Workers: The Political Impact of Mass Layoffs

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Jun 3, 2024
Author and Labor Institute executive director Les Leopold discusses the impact of mass layoffs on U.S. workers, highlighting the influence on voting behaviors and political beliefs. The podcast delves into the need for structural change, financialization of universities, addressing inequality, and revitalizing the labor movement.
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ANECDOTE

Oberlin Layoffs Spark Investigation

  • Les Leopold started investigating mass layoffs after a pandemic layoff at Oberlin College, interviewing affected workers.
  • Workers expressed deep devastation and betrayal, revealing mass layoffs' profound impact beyond isolated cases.
INSIGHT

Layoffs Shift Voting Behavior

  • Mass layoffs correlate strongly with declining Democratic votes in battleground state counties.
  • White working-class voters have become more socially liberal, disproving the 'basket of deplorables' claim.
ADVICE

Use Federal Contracts to Restrict Layoffs

  • Add clauses to federal contracts forbidding compulsory mass layoffs and stock buybacks during contract life.
  • This would enforce corporate responsibility when using taxpayer money and protect jobs effectively.
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