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The Secret History of How the Super-Rich Have Kept the Working Class Out of Work (theintercept.com)
submitted 2 years ago by to c/antiwork@lemmy.ml
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Tim Gurner, the viral Australian multimillionaire who wants more workers to be unemployed, was debunked by an economist in 1943.

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[–] 1 point 2 years ago (1 child)

Why do you think 5% unemployment is considered "full" employment?

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.

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  • [–] 0 points 2 years ago (1 child)

    It's just market dynamics. In order for there to be a healthy capitalist economy there must be people between jobs i.e. people without jobs i.e. the reserve army of labor. Structural unemployment is built in to the system, there isn't a literal cabal of people that actually enforces it (although the Fed is trying to boost unemployment with tight fiscal policy, so its not the market is natural and exists on its own without human manipulation)

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  • [–] 5 points 2 years ago (1 child)

    ---there isn't a literal cabal of people that actually enforces it (although the Fed is trying to boost unemployment with tight fiscal policy, so its not the market is natural and exists on its own without human manipulation)

    You say there isn't while describing the one that is.

    Regardless, those at the top meet annually in Davos. They all know each other, they sit on various boards with each other. They don't need to even make phone calls to spread any word or idea, just spread it in a board meeting and by the end of the week it'll be global

    With power in the hands of so few, there doesn't need to be a singular voice in control. all their interests already align

    So "market dynamics" really just means the explicit interests of robberbarons and landleaches.

    Consolidated wealth has a profound effect on the human psyche, not one bit of which offers anything beneficial.

    Philanthropy isn't charity, it's PR.

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  • [–] -4 points 2 years ago

    You say there isn’t while describing the one that is.

    Yes, because it's not a secret and it's not illegal. Those are actually hallmarks of conspiracies. These people openly do this stuff lol

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