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Marketwatch brings good news for the USA: American workers are finally reaping the benefits of the lowest unemployment rate and best jobs market in decades: Wages and benefits are rising at the fastest pace in a decade. Firms have sought to fill openings by offering better benefits such as more vacation time or flexible hours. When push comes to shove, they are offering higher pay. While bigger paychecks are great for workers, the US Federal Reserve is watching closely to see if rising compensation is stoking inflation. The Federal Reserve could increase U.S. interest rates if it becomes a big worry, but so far inflation remains relatively mild.
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Wages and Benefits are Rising at the Fastest Pace in a Decade
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(Score: 2) by bobthecimmerian on Tuesday August 07 2018, @06:26PM (2 children)
In the 19th century American workers earned exactly what they deserved by your definition - and were in debt slavery to the mine and railroad owners until they were worked to death.
You can idealize that as the perfect world. I have different ideas.
(Score: 2) by The Mighty Buzzard on Wednesday August 08 2018, @01:41AM (1 child)
Ask me about specifics if you want to know about specifics. Ask me about general policy if you want to know about general policy.
My rights don't end where your fear begins.
(Score: 2) by bobthecimmerian on Wednesday August 08 2018, @01:41PM
We're both anti-authoritarian. We both oppose "Do what I say or you will be shot." I just recognize "Do what I say or you will starve." as equally coercive.
The problem with capitalism is not that people earn money based on what they do. I have no problem with a doctor earning three times as much or five times as much as I do. The problem is that people earn money based on what they own, the guy who plays golf all day but owns restaurants or factories or gas stations. And the owners dictate terms to everyone else. When a market is near ideal conditions - lots of employers, lots of worker geographic mobility - capitalism is wonderful. Don't like how you're treated? Find some other place to treat you better. But so many markets are so skewed from ideal conditions that non-owners are just plain fucked. People in cities where the good jobs are can't afford the housing costs. People outside cities can't find work, or can't find work that pays well enough to cover subsistence costs, and can't afford to move closer to places that offer work.
No amount of deregulation is going to fix it, because the problem isn't regulation. The problem is private ownership of the means of production.