My panel on crony capitalism at the 2012 Commit! Forum (Featuring David Stockman)

Commit

I wish I could have posted this in October when we did it but better late than never.

It opens with Bill Shireman, the CEO of The Future 500, a client of mine. He is then followed by a keynote from David Stockman discussing the book he was then writing, which has since become an instant classic The Great Deformation. Lastly is your editor and a great collection of guests talking about crony capitalism right before the 2012 election.

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Study: Federal employees spent 3.4 million hours performing union activities while on the job

Fed Union cc
Time is money and money is also time. A lot of taxpayer “time” is spent doing union work unrelated to the mission of a particular federal employee. This is one of the reasons public employee unions are the only unions with any growth. You pay for their work.

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This Is a Managed Economy – Note Smuggled from Chinese Labor Camp in Decorations Pleads for Help

An American woman unwrapping Halloween decorations bought from K-Mart earlier this year found a note which appears to have been written by someone working in a Chinese forced labor camp. It desperately asks the world to pay attention.

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New CBO Report Says Federal Workers Earn Much More Than Private

The Congressional Budget Office released a report on January 30th estimating that federal workers make 16% more on average than private workers. Benefits, which are included in the 16% figure, are 48% higher or about $20 per hour higher. The overall average was $52 an hour for each federal employee. If only lower and middle level workers are included in the analysis, federal workers do even better in the comparison to private workers. The federal government employs 2.3mm civilian workers (not part of defense spending) at a total cost of $120 billion.

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