Ali Velshi: Encouraging and Frightening

When I attended a Lecture by Ali Velshi at the Poynter Institute in St Petersburg on Economics, Politics and America's Free Press, I wasn’t sure what to expect. Velshi, of course, is the Canadian television journalist who is well-known due to his work as a senior economic and business correspondent for NBC News, and also as an anchor for MS NOW. He is also a periodic anchor for The Last Word with Lawrence O'Donnell on MS NOW. Based in New York City, he is a respected journalist.

He did not disappoint.  I was alternately encouraged and frightened. He was encouraging when discussing the institutions of governance, but frightening when pointing out the lack of understanding by citizens of the purposes and functions of these institutions. On institutions, he especially emphasized the importance of a free press informing the populace.d

His most salient point on the economy and building wealth was that over the centuries wealth has mostly been based on cheap labor. He cited factors as wide-ranging as slavery to maximizing profits by shipping jobs overseas. He pointed out truly bad job done by the US in retraining its workers. He balanced the critical need for developing skills for today's jobs with the acknowledgement that as AI and automation continue, many jobs requiring people will be scarce — if available at all. 

Some other key points he offered as food for thought: 

  • Tax Cut:  A short time throwing gas on a fire and long term damage to the economy as debt service grows to 

  • The $15 wage minimum for hourly workers will, in reality, not allow anything but survival growth.

  • He spoke on several topics worthy of more thought and deeper discussion: 

    • The loss of manufacturing jobs and full time employment

    • The current low unemployment rate 

    • The GIG economy

    • Future AI and loss of jobs

It shouldn’t take a Canadian, even one as sharp and as informed as Ali Velshi, to point out to Americans that we need to be better informed so that we can drive our own destiny.

The alternative is, well, frightening.