The Secret History of How the Super-Rich Have Kept the Working Class Out of Work
The Secret History of How the Super-Rich Have Kept the Working Class Out of Work
theintercept.com
The Secret History of How the Super-Rich Have Kept the Working Class Out of Work
Tim Gurner, the viral Australian multimillionaire who wants more workers to be unemployed, was debunked by an economist in 1943.
Why do you think 5% unemployment is considered "full" employment? Why are billionaires and treasury appointees also so horny for raising unemployment?
Structural unemployment is fundamental to capitalism. He is a psychopath, because behind every great fortune is a great crime.
That's the fucked up thing about the system. It builds excuses for itself so that people can shrug it off. It's the guilt avoidance, a way to keep members of a cult docile. It's only by accepting the guilt that you understand what to do with it (help the people who are harmed, and stop the harm).
Quoted from the article: Australia’s GDP, after falling in 2020 during the first year of Covid-19, has bounced back vigorously and appears on track to grow at about the same rate as it has over the past 20 years.
Here's the thing, we either accept that COVID is still a thing and follow measures to mitigate it resulting in probable negative economic effects, OR we continue down our current path resulting in a labor shortage. The bourgeoisie can't have it both ways, but they don't want to accept that.
I've sometimes seen it written as 3%, but generally that's included to provide a more accurate estimate of overall employment. It represents the people who are currently between jobs and are actively searching for a new one. I probably would have been included in that stat when I left an abusive employer and searched until I found my current one.
It isn't some kind of capitalist conspiracy.
it's not stupid; having a "reserve army of labor" of desperate people in unemployment willing to work for less than employed people is intentional.
Having all these people desperate to work for less wages than already-employed people do serves to drive down wages and therefore drive up profits for the employer class
This is also the real reason why conservatives are again pushing to do away with child labor restrictions in the US. If a child is allowed to do the job for a lower wage, it lowers the wage for adults, too.
Are you familiar with the concept of "the army of the unemployed"?
With high unemployment there is greater competition for jobs so employers can offer worse terms and conditions, therefore maximising profit.