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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 [email protected] to c/[email protected]

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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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[+] [email protected] 46 points 2 years ago* (last edited 2 years ago)

[deleted]

[-] [email protected] 58 points 2 years ago* (last edited 2 years ago)

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.

[-] [email protected] 8 points 2 years ago

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).

[-] [email protected] 5 points 2 years ago

If you take the time to learn about trauma response in survivors and the various ways trauma manifests then extrapolate that out to the macro level, everything becomes much clearer. And sinister.

It's all just abuse. Society doesn't want you to be self sufficient, critically thinking and debt free. Then it would have to persuade you thru rational discourse.

If your broken and in need, well, the old saying applies; the power to relieve pain is 1000x greater than the power to inflict.

It also helps when you're the one inflicting the pain, then rationing the salves.

[-] [email protected] 5 points 2 years ago

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.

[-] [email protected] -1 points 2 years ago

That's not true!

We could also collapse the economy so the demand for labor falls faster than people can die or become disabled. 🤑

[-] [email protected] 1 points 2 years ago

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.

[-] [email protected] 0 points 2 years ago

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)

[-] [email protected] 5 points 2 years ago

---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.

[-] [email protected] -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

[-] [email protected] 14 points 2 years ago

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

[-] [email protected] 5 points 2 years ago

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.

[-] [email protected] 3 points 2 years ago

I think it's part of the same reason for abortion restrictions.

[-] [email protected] 1 points 2 years ago

IMO, abortion restrictions are about reducing women's independence, and keeping society patriarchal. That and keeping white people the majority.

It's just a happy coincidence that it could result in more poor people who are desperate to take any job, although infant mortality is up in abortion restricted states post Roe, so it may not quite work out that way.

[-] [email protected] 3 points 2 years ago

Are you familiar with the concept of "the army of the unemployed"?

[-] [email protected] 3 points 2 years ago

With high unemployment there is greater competition for jobs so employers can offer worse terms and conditions, therefore maximising profit.

[-] [email protected] 18 points 2 years ago

[-] [email protected] 11 points 2 years ago

Imagine being talked down like that by a nepo baby

[-] [email protected] 10 points 2 years ago

It's not a secret people are just daf.

[-] [email protected] 8 points 2 years ago* (last edited 2 years ago)

Great article, thanks for posting. I also left a donation.

[-] [email protected] 5 points 2 years ago

"The reality is that we have the tools to create a much better, richer society for everyone. But the people at the top would prefer a worse, poorer country, if that’s what’s required for them to stay completely in charge."

This is so true. The world as it is now is so depressing and the ones at the top like it that way.

Very good article!

[-] [email protected] 4 points 2 years ago

thanks for posting this, great read

this post was submitted on 24 Sep 2023

326 points (97.9% liked)

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