Kalleberg’s solution requires rethinking the social contract, a tough sell in individualistic America. He refers to the European concept of “flexicurity,” which seeks to combine employer flexibility with worker security. Doing so requires rethinking the relationship between public and private. The essential elements of such a model require universal, affordable, portable health insurance which ideally should be separated from employment. It also requires a more secure and portable pension system, more generous unemployment insurance, and greater opportunities to acquire new skills and education over the course of a lifetime. If employment is more transient and employers invest little in their workers, then a revitalized social safety net needs to fill in the gaps.

Bank and insurance CEOs aren’t the only ones getting rewarded for horrendous behavior in this recession. There’s Wal-Mart, whom Newsweek has now anointed as “Our Corporate Savior.” (Hat tip to dakine01.)

“Wal-Mart recently announced that its same store sales in January were up 2.1 percent, which was more than forecast. With the company’s huge network of stores and ability to strong-arm suppliers, Wal-Mart offers shoppers good merchandise at prices which becomes more and more attractive as the downturn continues.”

[Before I get into the post today, just want to make sure everyone knows the AFL-CIO formally endorsed Barack Obama today. More here.]

Marybeth Litcholt has worked as a casino dealer at the Trump Plaza Hotel and Casino in Atlantic City since 1987. After 21 years on the job, she makes $9 an hour.