I never really looked at the entire wage situation. This article makes a lot of sense.
It is true that wages in the US have been flat for the past two decades. Few want to mention the entire apparatus these corporations amassed. I knew it was large with the banksters being behind it all but I didnt connect all the dots. Now I can see it clearly.
There is not a level that isnt involved. We see a tidy , intertwined organization all wrapped up together. And on the other end if the working public who is repeatedly screwed.
It is time that the blockchain start to change that. It all starts, in my opinion, with the banksters. Break their hold and there is a chance for other things to be corrected.
Scott Smith has a plan that would be a great start. Reforms banking and taxation. www.thefoundationforabettereconomy.org
Blockchain making banking less important is a better option.
Governments are a problem that will not go away until they are not needed which will be decades. Reformed taxation still ends up helping those who have the most to lose, the elite.
Even if the banks lose some of their influence, other employers will still try their hardest to keep wages down. It will still be immensely important to unionise, for as long as the employer/employee relationship remains the norm.
Unions are passe. There is no need for labor. That is the challenge for people today.
Companies can increase capital without increasing labor. Those two fundamental issue are no longer linked.
I don't think we're there quite yet. Maybe one day.
In the US, wage growth is flat the last 20 years. What has not been automated out is being suppressed simply because of the threat of automation.
The West Texas oil industry learned this the hard way. When oil prices collapsed, massive layoffs. Over the two years prices were down, the companies went to work on automating. The result, by 2016, when prices started to rebound, half the workers were not hired back. Even the off shore rigs were affected with the numbers going from 25 works to 5 to man a rig.
There were a couple hundred thousand jobs, decent paying jobs, automated out.
Unions started fighting automation 35 years ago in the car industry. They lost.