competition. the point here, it s not just boeing. the fact is there has been a concerted political effort to attack the nlrb to stand in the way it s a side show 37. it s want a side show if you re an activist in this space, you won t think it s a side show. i just want to go let s talk about hasn t boeing faced a lot of competition? international aerospace universe has a lot of strong participants. actually, that s been the big shock boeing has faced in the past few decades, is the rising airplane manufacturing powers from other parts of the world is. we have a different view. it s true that airbus bombardier, our canadian friends. but the thing is, all of these firms are national champions protected by their respective countries. companies with lots of public contracts that protect their position. the thing is that boeing sort of might lose on a super jumbo deal
it ultimately doesn t matter. have you this labor dispute, let s consolidate there instead. the thing is they are a very powerful incumbent. so, one of things you see happy one of the things we do when there s a downturn, very aggressive monetary stimulus, perhaps a case for that, but what happens with that is that it s designed to encourage certain kind of innovation. it is what you might call exmroe tattive innovation in which you increase the scale of operations. when you do that you do that by substituting technology for labor. that s not very good for labor levels that contributes to a larger kind of slack employment markets. what you really want to ee is exploratory innovation. that s what you get when you have really competitive micro-economies, new intrants. the nlrb is a side hoe. boeing has a legal department and they re going to fight those battles. then we ll just have them in washington state. that s cool. they re going to keep piling on enormous profits as long as they
aid be a middle class job? it absolutely can be. where there are unions, they are. the point is autoworkers were once janitors, especially, home care aids in terms of what their wages were, social status, the amount pow arer they had but the period in which he had got paid more was a very different period from the one we re living in now. and right now those jobs, i would pause it to us all, without having a solution, are exposed to much fiercer competitive pressures than they were in this golden period when those wages went up. i want to put in a plug for the fact we ll be discussing the way in which private equity, private equity industry and a firm, bayne capital headed by one mitt romney, held usher along the transformation you re talking about. when you look at boeing, for example, it s interesting. they re now shutting down facilities in kansas and consolidating operations in washington state. what is an implication of that? one way to look at it is, well,
judicial body that oversees the enforcement and education of labor law disputes for private sector employees in this country. the nlrb has essentially was not functional for the first 14 months of the obama administration. it could not have a quorum. it had five people. it only had two. finally, they got it to three and when those appointments expired, it was back down to not being functional. the reason these three appointments happened was because the nlrb was not functioning. it would be as if the supreme court didn t have enough to rule on any cases. that was the case for 14 minutes. no one really knew about it and no one much cared except for the chamber of commerce, which was happy to see the nlrb not operational and enforcing labor law. the approximate cause of the way it has become political is the case that the nlrb brought a case against boeing when boeing
have you this labor dispute, let s consolidate there instead. the thing is they are a very powerful incumbent. so, one of things you see happy one of the things we do when there s a downturn, very aggressive monetary stimulus, perhaps a case for that, but what happens with that is that it s designed to encourage certain kind of innovation. it is what you might call exmroe tattive innovation in which you increase the scale of operations. when you do that you do that by substituting technology for labor. that s not very good for labor levels that contributes to a larger kind of slack employment markets. what you really want to ee is exploratory innovation. that s what you get when you have really competitive micro-economies, new intrants. the nlrb is a side hoe. boeing has a legal department and they re going to fight those battles. then we ll just have them in washington state. that s cool. they re going to keep piling on enormous profits as long as they don t face ferocious competiti