by Summary:
Two items this Wednesday before the music segment. First, we saw the stark ideology of the elites on full display in Sydney yesterday with a property developer demanding the government increase unemployment by 40-50 per cent to show the workers that the employer is boss and redistribute more national income back to profits. For anyone who doubts the relevance of a framework based on underlying class conflict between labour and capital, then this outburst should eliminate those doubts. On the same day, a leading research group in the welfare sector released an update in their series tracing poverty in Australia. It demonstrated a rising incidence of poverty (nearly 20 per cent of the population) and 1 in 6 children living in impoverished conditions. And the profit takers want more of that
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Two items this Wednesday before the music segment. First, we saw the stark ideology of the elites on full display in Sydney yesterday with a property developer demanding the government increase unemployment by 40-50 per cent to show the workers that the employer is boss and redistribute more national income back to profits. For anyone who doubts the relevance of a framework based on underlying class conflict between labour and capital, then this outburst should eliminate those doubts. On the same day, a leading research group in the welfare sector released an update in their series tracing poverty in Australia. It demonstrated a rising incidence of poverty (nearly 20 per cent of the population) and 1 in 6 children living in impoverished conditions. And the profit takers want more of that
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Robert Vienneau writes Another Hayekian Triangle Not Supporting The Austrian School
Joel Eissenberg writes Access to medical care: right or privilege?
NewDealdemocrat writes Production turns more negative
Bill Haskell writes Lawler: Early Read on Existing Home Sales in October
Two items this Wednesday before the music segment. First, we saw the stark ideology of the elites on full display in Sydney yesterday with a property developer demanding the government increase unemployment by 40-50 per cent to show the workers that the employer is boss and redistribute more national income back to profits. For anyone who doubts the relevance of a framework based on underlying class conflict between labour and capital, then this outburst should eliminate those doubts. On the same day, a leading research group in the welfare sector released an update in their series tracing poverty in Australia. It demonstrated a rising incidence of poverty (nearly 20 per cent of the population) and 1 in 6 children living in impoverished conditions. And the profit takers want more of that to enrich (engorge) themselves even further. A shocking indictment of what has gone wrong with this nation....While this may seem shocking to some, it is just the way the system works based on its foundational assumptions. Capitalism favors capital (ownership) over labor (people) and land (environment). The purpose of capitalism is the accumulation of capital, the argument being that growing capital increases growth and growth "trickles down" and "lifts all boats. The environment is assumed to be an infinite resource for growth.
So nothing surprising about this attitude. It's the way the system is structured. According to economic liberalism, optimal growth results from agents pursuing their own interests maximally, which is assumed to be rational economic behavior.
Economic liberalism favors markets free of government intrusion, whereas neoliberalism promotes growth by governments favoring capital as an economic factor
.
William Mitchell — Modern Monetary Theory
Capitalist wants government to drive up unemployment by 40-50 per cent and inflict more ‘pain in the economy’ on workers
Bill Mitchell |rofessor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
Capitalist wants government to drive up unemployment by 40-50 per cent and inflict more ‘pain in the economy’ on workers
Bill Mitchell |rofessor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
See also
The details and commentary from another Aussie.
“We need to remind people that they work for the employer, not the other way around. We need to see unemployment rise, unemployment has to jump 40–50 percent.”
CaitlinJohnstone.com
Caitlin Johnstone