860
this post was submitted on 19 Jan 2024
860 points (97.8% liked)
Work Reform
10000 readers
566 users here now
A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.
Our Philosophies:
- All workers must be paid a living wage for their labor.
- Income inequality is the main cause of lower living standards.
- Workers must join together and fight back for what is rightfully theirs.
- We must not be divided and conquered. Workers gain the most when they focus on unifying issues.
Our Goals
- Higher wages for underpaid workers.
- Better worker representation, including but not limited to unions.
- Better and fewer working hours.
- Stimulating a massive wave of worker organizing in the United States and beyond.
- Organizing and supporting political causes and campaigns that put workers first.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Yeah, I'm not sure I really get this whole "reduce employment" logic. Like if some product just isn't profitable and you lay off the employees you hired to work on it, that's not surprising, but if the employees are doing something profitable, and you actually needed to hire that many to get whatever it was you hired them for done, shouldn't it be more profitable to a company to keep them, even if one had a large number?
Moreover, if all the oligarchs are doing it, and they are, who will be left to buy their products/services?
They're breaking their own ponzi scheme economy for a few more quarterly profit boosts because there's nowhere else to grow/metastasize. Media companies are making less media. Food makers are making less product types. Their profit is coming out of gutting workers and their ability to produce what their economic sector produced in the first place.
This is a terminal stage market capitalism fire sale. The snake is eating its own tail having conquered the board.
Because this is the End of the Line. The snake has found its tail and Oroborous awakens to transform the end into the beginning. An ideology of everlasting consumption will eventually consume itself.
Especially on a finite world with finite resources.
Bold of you to assume the stock market has anything to do with finite resources.
When the ultra wealthy and their companies run the system into the ground they will buy up the failed stocks and cheap land that nobody else can afford then come out ahead when the economy recovers like they have in the previous economic crashes. They can afford to buy low and cash out when it is high because they have zero pressure to act at any given point in time due to their ridiculous wealth and zero legal repercussions.
But even then there reaches a point where they run out of things to buy, and people to buy them from.
Eventually they poison the one thing they worship: the sanctity of private property rights. It has to serve at least some portion of the populace if it's going to remain tenable, but they're doomed to discover and undershoot that number.
The Western world spent a century demonising socialism with "they'll take your home and car" but it rings hollow when you have neither.
I cannot afford an emergency. Bring in the socialist, if it is houses they take, and cars they enamor, surely they will leave me be.
Bold of you to assume they were talking about the stock market
Upthread:
And? How do you get stock market from that? They are obviously talking about the economy as a whole and not the stock market
The stock market is the reason for chasing quarterly profits and a massive part of what gets counted as the economy. It is the main driver of all the shitty late stage capitalism practices we are discussing.
The stock market is certainly part of the problem but it’s not everything.
Capitalism in its entirety is the issue. Capitalism is based on infinite growth which is unsustainable and impossible.
The stock market is just a tool to extract wealth from the populace. Without the stock market it would still happen but with less efficiency.
You have the same problems with or without stocks.
They’re not thinking long term, they want immediate and maximum profits
It makes quarterlys look good immediately before the problems show up later
It's the mindset of someone who wants to cash out which is usually all ultracapitalists
Most of them are not. That’s the beauty of a cash cow like Google. They’re working on things that may be profitable in the future. By cutting the future, you’re cutting future growth.
It’s why I dislike hedge funds. They’re stripping value instead of creating value.