Wage Growth Is Not a Myth!

Wage Growth Is Not a Myth!

[sgtmac]

I’m not a commie but I’m ngl we are gonna have to talk about making working for McKinsey and Co a crime.

[ThomasVWorm]

There is no capitalism without a rentier class since the rent for rentiers is all, what capitalism is about. The capitalists are the rentiers.
The construct to create a rent is the ownership of capital, which has the effect, that the producers of commodities and services never own what they produce. The rent comes from lending the means of production to them and selling the products to them for a higher price than they were paid for the labour being used to produce those products.
So profit is just another word for rent.

But this generates an instability, which can only avoid the collapse when we do have growth, which means, we delay the collapse into the future.

Capitalism without a rentier class is called socialism.

This is very relevant when we think about climate change and our ecological boundaries. To survive on this planet, we do need a stagnant system which is smaller than what we do have now.
Making capitalism stagnate or even shrink is impossible, since the consequence is the collapse of the economic system. In order to stabilize the economic system we cause the collapse of the ecological system.

Which means: we are doomed.

[cyberpunkalphamale]

The Wharton business school was founded on this idea. It's a fascinating history.

[tannerrobinson]

The problem is is that those gains go to the board members of corporations as bonuses. Take for example Walmart, they have a 70% turnover rate and can’t keep people employed because pay is terrible and instead of providing employees incentives and a wage that is good enough for them to contribute to 401k’s, and managers that actually give a shit about their people, people quit.

[ClarkPotter]

40% of GDP is the financial sector. Purely extracting wealth from money itself, providing no tangible value to anyone except others doing the same.

[adenwellsmith]

Supply and demand. Import millions of poor people, wages go down, benefits bills go up

[Seawithinyou]

I Highly recommend you watch Steve Keen on Nate Hagens The Great Simplication An Incredibly in-depth foresights on how investors finance corporations etc… think and work I found Steve along with other scientists Petrol geologists from Nate wonderful understanding and giving some hopeful solutions for our childrens ever challenging Future 🕊🌏😇💖

[AndrewS-feng]

We know who it's going to. Eventually society will fail and those folks will take one for the team. Shame really.

[WarrenPeaceOG]

Boom! 💥 Economic dynamite in the face of aristocrats and R.U. SuperRoo Murdoch, the man who can not be named, and Kid Starver his manservant

[walterbrownstone]

It's unfortunate that dogmaticians can have multiple definitions of the word growth. Just kidding! No I'm not. Yes I am. I'm learning dogmatics 101.I just don't think I'm smart enough.