Divesting the need for morality from the business equation has the same net effect as removing it from government. And THAT is what is wrong with this country. A guiltless capitalist is no better than a common back alley thug. EXCUSING it in the name of free market capitalism may clear ones conscience, but it only serves to exacerbate the problem. REPOSTING nakedcapitalism/2014/09/low-wage-growth-high-long-term-unemployment-recognized-international-problem.html The fundamentals of capitalist ethics require that ‘you shall earn your bread in sweat’ — unless you happen to have private means. 4. We have considered the political reasons for the opposition to the policy of creating employment by government spending. But even if this opposition were overcome — as it may well be under the pressure of the masses — the maintenance of full employment would cause social and political changes which would give a new impetus to the opposition of the business leaders. Indeed, under a regime of permanent full employment, the ‘sack’ would cease to play its role as a ‘disciplinary measure. The social position of the boss would be undermined, and the self-assurance and class-consciousness of the working class would grow. Strikes for wage increases and improvements in conditions of work would create political tension. It is true that profits would be higher under a regime of full employment than they are on the average under laissez-faire, and even the rise in wage rates resulting from the stronger bargaining power of the workers is less likely to reduce profits than to increase prices, and thus adversely affects only the rentier interests. But ‘discipline in the factories’ and ‘political stability’ are more appreciated than profits by business leaders. Their class instinct tells them that lasting full employment is unsound from their point of view, and that unemployment is an integral part of the ‘normal’ capitalist system. It is vital to understand that high unemployment and low wage growth are solvable problems. But powerful and well placed people believe it is in their interest to keep them unsolved. It will take considerable pressure to change their minds.
Posted on: Thu, 11 Sep 2014 15:52:07 +0000
Trending Topics
Recently Viewed Topics
© 2015