Meanwhile, in the real world, $15 an hour is far below a livable wage in most of the U.S. I’d like to see members of Congress survive on $15 an hour, let alone the greedy CEO’s of corporations.
I have said time after time that sure, the min wage needs to be increased (and indexed to inflation AUTOMATICALLY), but the real benefit economically to the US population is to make it easier to form and join a union. Card check, or better known as EFCA was talked up by Obama/BIDEN in 2008 and stated as a priority in their administration. Well, they got elected and poof never heard of it again. Unions were never strong in the US even after the war when the highest percentage of the work force that was unionized was around 35%. Last time I checked it’s about 12%.
You won’t hear about the CBO findings on Fox News (faux noise).
I’ve always wondered why business leaders, when confronted with issues like raising the min. wage, never see the up side for their businesses. The working class spends most of it’s earnings, that end up boosting the economy, compared to the rich who horde most of theirs, taking that money out of the economy. Why isn’t a study done to reflect this up-tic in economic activity, that could be a positive gain for business, instead of just focusing on the increased costs of labor?
Bernie Sanders has done more to raise wages, and not just here, over the last year or two than the entire d-party – who claims to be the champions of the working class – combined:
And you’ll still see a bunch of Blue Dogs vote against $15.
Capitalists are practicing Marxists. They understand the labor theory of value and try to get as much as possible of the worker’s wages for themselves.
Austerity without health care and looming homelessness supplies an insecure labor force willing to work for whatever they can get.
OK, so is austerity for the workforce is more profitable than economy expansion with higher wages?
I’m asking in relation to the expansion after WWII, I realize boosting the min. wage wouldn’t be as great financially as that period, but that period was pretty darn profitable for the capitalists.
Economic expansion is suicide at this point. The world economy requires 1.5 Earths. If everyone lived like the US, the Wold economy would require five Earths. Europe does a little better than the US at about the 4.5 Earth rate. Australia is a bit worse.
Austerity is an old and very stable system, Colonization by Europe is an example.
Degrowth with social controls on capitalist pirates willing to destroy Earth is the best course proposal at this time. An example of capitalist destruction can be seen in seaweed across the Atlantic. Rightwing capitalists overthrew democracy in Brasil with US help, now the Amozon is being destroyed so fast that nutrients eroded to the sea are feeding seaweed growth like never before. see https://earthobservatory.nasa.gov/images/145281/scientists-discover-the-biggest-seaweed-bloom-in-the-world?src=eoa-iotd
http://www.constituentAssembly.org illustrates CO2 reaching the dinosaur age by the middle of next year. We are in existential emergency. Green party is there waiting for people to want to win and survive.
Thanks for this piece. I wish David Dayen had pointed out that “Fight for $15” launched in 2012. By 2024, that would be the buying-power equivalent of $19 an hour. (That’s calculated on a 2.5% annual inflation rate. But many family costs — such as rent, prescription drugs and healthcare insurance — are rising much faster.)
So, fighting for $15 in 2024 really means fighting to LOSE at least 25% of workers’ 2012 buying power. A sweet deal for business owners and investors — but not for workers or the economy.
Thanks for the response and the links. The NASA link hits home, they just closed the beaches here a couple of days ago because of a “algae bloom” (MS Gulf Coast), normal for us in the summer with the Mississippi River deposits coming our way via currents, but I think this one is different than usual, the info. in you’re link might provide answers as to why.
I’m not going to lie, you’re site talking about a constitutional convention scares the h#ll out of me, not because I don’t think we need it, but because of who’s in control of the government at this time, it would be very easy for that to go all kinds of sideways until progressives control either both chambers of congress or at least one chamber and the Executive branch.
The constituent assembly is more than a constitutional convention, although it may be and has been used to rewrite a constitution, most recently in Cuba.
Preliminary to rewriting a constitution is ideological recognition that a constituent assembly is a method for focusing distributed human intelligence and knowledge. Evolution is accelerating at an accelerating rate and species survival is on the line. Capitalists are locked in grabbing as much as possible before the end and will of course attempt to stop humanity from realizing most of the rich are mentally ill and afflicted with insatiable want. This illness blinds them to clear thinking and their plight is obvious to everyone who is concerned about actual survival rather than corporate attempts to militarily dominate.
The constituent assembly is one facet of an imaginable seven facet government that is evolving along with cosmic powered biology manifest as human. Most of the super rich are incapable of advanced mental processes and are stuck at primitive hunter gatherer foraging.
It may just be a result of the free market ideology most of them are fed in place of an education, but i also think a large part of it is because of how the stock market has been completely divorced from the actual economy.
Stocks are how most of the parasites makes their fortunes and they do not require a healthy economy to cash in on their investments.
Most people, including many investors, do not realize that the value of a company’s stock does not reflect the actual value or even the health of a company.
More over, owning stock in a company no longer means that you actually own a part of that company, and it may not even mean that you are entitled to dividends or anything else.
For details on how this works i can recommend Tan Liu’s The Ponzi Factor.
Thanks to both you and Garrett_Connelly, I’m sure it’s not hard to see that advanced economics is way outside my comfort zone, the information both of you have supplied is very helpful.
Sorry if it seemed like I was down playing the information, not what I intended at all, I took another look and agree it is much more than that. With what we’re dealing with now politically, I get nervous when I see or hear anything related to a constitutional convention, and I’m prone to tunnel vision because of what the extreme right wants to do to that document and the ideas it represents (at least to the people). Thanks again for the information, it is helpful.