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The Guardian - 13/05/12
George Osborne is among politicians in Europe who want supply-side reforms; cuts in wages and working conditions.
Article continues ...
Cuts in wages..cuts in higher rate taxes.Aurora wrote:The Guardian - 13/05/12
George Osborne is among politicians in Europe who want supply-side reforms; cuts in wages and working conditions.
Article continues ...
It would seem that monetarists, having shot themselves in the foot over the deregulation of the banks, are now trying to get businesses completely deregulated. This euphemism for cutting workers wages will be as equally ridiculous as unregulated banks.
Workers on low wages can't buy stuff or pay rent and mortgages. If stuff isn't bought companies can't make a profit. No profit - no company - no dividends - no high salaries for execs. We haven't yet seen the end of the mess that happens when we try to make money from money, leaving out the manufacturing sector, but we know enough to know that that doesn't work either.
Perhaps we should go back to paying workers a wage that enables them to buy stuff and keep an economy ticking over. Perhaps we should go back to paying bosses a sensible proportion of the profits so that the workers and pensioners can have something to spend. It might be boring and not a great way to get rich quick but it worked for a while whereas the average "get rich quick" scheme soon falls apart. If austerity will get the workers working, some for the bosses might help as well.
Am I an heretical Tory for suggesting this medicine?
A bit of common sense goes a long way.You are indeed a heretic since what you have outlined in that letter is basically a Marxist analysis of why unfettered capitalism contains the seeds of it's own destruction.kenneal - lagger wrote:I wrote to the Sunday Telegraph and my MP about this:-
It would seem that monetarists, having shot themselves in the foot over the deregulation of the banks, are now trying to get businesses completely deregulated. This euphemism for cutting workers wages will be as equally ridiculous as unregulated banks.
Workers on low wages can't buy stuff or pay rent and mortgages. If stuff isn't bought companies can't make a profit. No profit - no company - no dividends - no high salaries for execs. We haven't yet seen the end of the mess that happens when we try to make money from money, leaving out the manufacturing sector, but we know enough to know that that doesn't work either.
Perhaps we should go back to paying workers a wage that enables them to buy stuff and keep an economy ticking over. Perhaps we should go back to paying bosses a sensible proportion of the profits so that the workers and pensioners can have something to spend. It might be boring and not a great way to get rich quick but it worked for a while whereas the average "get rich quick" scheme soon falls apart. If austerity will get the workers working, some for the bosses might help as well.
Am I an heretical Tory for suggesting this medicine?
What are these hypothetical decently-treated workers going to buy in an increasingly resource-strapped world?kenneal - lagger wrote:It would seem that monetarists, having shot themselves in the foot over the deregulation of the banks, are now trying to get businesses completely deregulated. This euphemism for cutting workers wages will be as equally ridiculous as unregulated banks.
Workers on low wages can't buy stuff or pay rent and mortgages. If stuff isn't bought companies can't make a profit. No profit - no company - no dividends - no high salaries for execs. We haven't yet seen the end of the mess that happens when we try to make money from money, leaving out the manufacturing sector, but we know enough to know that that doesn't work either.
Perhaps we should go back to paying workers a wage that enables them to buy stuff and keep an economy ticking over. Perhaps we should go back to paying bosses a sensible proportion of the profits so that the workers and pensioners can have something to spend. It might be boring and not a great way to get rich quick but it worked for a while whereas the average "get rich quick" scheme soon falls apart. If austerity will get the workers working, some for the bosses might help as well.
Am I an heretical Tory for suggesting this medicine?
kkenneal - lagger wrote:Don't ask questions like that, Em.