Its with jobs. The issue is balancing the adjustment costs of moving people in markets to the longer run growth benefits of having more efficient markets. And that doesnt mean always that more is always better. But it means that preventing competition is always worse. So you have to figure out how to get around this. And thats the struggle where all of us in good faith are trying to figure out where the right point is on this issue. The final thing, before we turn to lunch and then to mark bertolinis speech, is that we are in a world and i dont want to come down on the public because i dont know enough. But were in a world where the reality is yuanou on union nigh zags is at an alltime low. And so in that context for those of us who care deeply about the distribution of wages, one thing you can talk about is giving more power back to union. Another thing you can talk about is well that doesnt seem to be happening at the moment. Do we have another avenue. And there again is where the pr
Institute for International Economic economics. Its an hour. Ladies and gentlemen, welcome back to our previously schedule programming. It is my pleasure to continue from our Economics Panel according to our practical world. We have as a special treat today, Mark Bertolini the chairman and ceo of aetna who is going to talk about the role of Corporate America in reestablishing the american middle class. Thats about as targeted and blunt a title as you can have, which i find very typical of mark. Many of you have become familiar with him recently he got him mens coverage in the New York Times and elsewhere for his leadership. I think it is fair to say the word leadership and taking aetna forward and then amongst other companies in vool tearvoluntary raiseing the wages of its vast share of low wageworkers within its company, something that so far at least none of the other Major Health Insurers in the u. S. Have announced. We have gotten to know mark over the last few years. Hes been a me
1 10 of the point is not how you want to evaluate Something Like raising the minimum wage. The final point in terms of the internationalization, is that we know crosssectional he and crosscountry, and someone else touched on this emphasizing collectivebargaining, i will emphasize the outcomes. That majority, not just european countries, including some of the asian and richer latinamerican countries, where the wage gap is much smaller and they managed to export and have relatively large labor force participation. Labor force participation has actually gone up in western europe, even including germany. It is not this iron law that if you pay more you cease to do business. It doesnt mean you always pay more, that it might. So, with that in mind, or more importantly what our panelist seven mind, let me open up the floor for questions or comments. Please these first two people. First to nancy and then to this gentleman. Please identify yourself. If you are going to present a political argum
We had conversations with leaders in both saudi arabia and egypt over the weekend assuring them that a framework deal with a ron did not mean we were abandoning legendary alliances with others. Host on the next washington journal, longterm unemployment and the economy. Then we will discuss president ial Campaign Funded raising fundraising rules and senator rand paul announcement. Later, the American Press institute about the Rolling Stone Magazine University of virginia rape story. Washington journal is live each morning on cspan. You can join the conversation on facebook and twitter. The next, discussion on wages and Economic Growth with aetna ceo. Then freshman representative of oklahoma talks about being a new member of congress. A conference of independent voters met in new york next month this month. Aetna ceo talk about increasing his employees wages and called on companies to invest more in their wages. He spoke at the peterson institute. Love them back to our previously schedul
Is somewhere in the order of 180 or 200 billion plus. But we are talking one to 1. 5. There is no trillion dollars. There is no way to get there without the private sector. It is a very difficult time and capital now is without question beginning to get out of the emerging market. In order to be able to reach this goal, we have to be much more clever about how we utilize the Development System that countries provide and link to it to the kinds of investments that we know will be the creator of jobs. How do you do that . One of the things are trying to do in one of the papers we will be presenting next week is one in which all of us, all of the Multilateral Development banks, sat down together and said lets get all the different sources of financing for development. Lets put them all together and think strategically. If you look at all the different sources and you start really with improved domestic resources. Weve got to help countries have taxes in a more fair and we move reasonable