One of the things I’m learning from reading about the early days of the New Deal is how many of the New Dealers emphasized that there wasn’t an issue of production, there was an issue of distribution (seen especially with things like agriculture and electricity generation). Glad to see a similar argument here!
I've had the same argument with some people, and a lot of people start from the standpoint that inequality isn't bad. I think it's important to lay out the massive economic and political power people gain from so much money and the undemocratic nature of that.
Also there are many workers below the average and/or median who could likely have good lives were the gains distributed better.
From what I've read, there are plenty of economists who argue that our economic system doesn't "prioritize(s) growth above all!" As a worker, it seems pretty clear that they do, but I guess those who enable the financialization of everything seem to disagree. Or at least that's what it seems after doing some research on growth imperatives and the like. I don't know what to make of it.
Insurance will soon only pay out if the loss jeopardises the policyholder's existence: look at what you have, not at what you've lost. Give thanks for the bounty that was saved, mourn not for the loss that was stolen.
Social safety net? If you need one of those, you're useless anyway.
I did a quick analysis over at FRED. Between 1980 and the present, per capita GDP has doubled, but the share of it that a week's worth of work provides has halved. In other words, workers' pay has been stagnant in terms of rising economic output.
You know the rich people will just say "Invest in the stock market and you'll get to share in the profits!" like 401(k)s and stocks in general aren't another ridiculous rich-person scam.
Not a perfect correlation but the corporate profits that fuel the stock market are partly taken out of workers' pockets so the idea of "investing is the one true path to riches" as an alternative to paying better wages is very relevant here.
Plus the minimum wage has not been raised in decades.
One of the things I’m learning from reading about the early days of the New Deal is how many of the New Dealers emphasized that there wasn’t an issue of production, there was an issue of distribution (seen especially with things like agriculture and electricity generation). Glad to see a similar argument here!
I've had the same argument with some people, and a lot of people start from the standpoint that inequality isn't bad. I think it's important to lay out the massive economic and political power people gain from so much money and the undemocratic nature of that.
Also there are many workers below the average and/or median who could likely have good lives were the gains distributed better.
From what I've read, there are plenty of economists who argue that our economic system doesn't "prioritize(s) growth above all!" As a worker, it seems pretty clear that they do, but I guess those who enable the financialization of everything seem to disagree. Or at least that's what it seems after doing some research on growth imperatives and the like. I don't know what to make of it.
Maybe those who think there
are less injuries should try working in an Amazon warehouse.
Insurance will soon only pay out if the loss jeopardises the policyholder's existence: look at what you have, not at what you've lost. Give thanks for the bounty that was saved, mourn not for the loss that was stolen.
Social safety net? If you need one of those, you're useless anyway.
I did a quick analysis over at FRED. Between 1980 and the present, per capita GDP has doubled, but the share of it that a week's worth of work provides has halved. In other words, workers' pay has been stagnant in terms of rising economic output.
https://writtenstuff.substack.com/p/the-abundance-agendas-weak-spot
You know the rich people will just say "Invest in the stock market and you'll get to share in the profits!" like 401(k)s and stocks in general aren't another ridiculous rich-person scam.
Not a perfect correlation but the corporate profits that fuel the stock market are partly taken out of workers' pockets so the idea of "investing is the one true path to riches" as an alternative to paying better wages is very relevant here.