Robert Reich is an American economist, professor, author, and political commentator who has been quoted here before. His May 5 newsletter discusses why corporations have so much power and workers have so little.
While specifically about the USA, Reich’s words apply similarly to Canada. Reich notes indisputable trends and, if these continue, they ensure growing inequality, which, taken to extremes, has led to civil unrest throughout history.
Background: It’s one of the oldest struggles inside the American economy and within capitalism worldwide: between labor and capital. And it has a direct effect on inequality.
The way we’ll approach it today is by looking at two sides of the same coin: antitrust laws designed to contain the market power of corporations, and labor laws designed to allow workers to organize.Both sets of laws have been changed over the last 40 years — giving corporations greater market power, and dramatically reducing the power of organized labor.
Categories: Economics
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Thank you Norm I recently came across this JFK quote you clearly remind me of again: âThose who make peaceful revolution impossible will make violent revolution inevitable.” JFK I salute you and all those who go by another old saying â the pen is mightier than the swordâ, and I aspire thereto Fyi, in our little town we are wrestling with change in a deep way â our very identity in question for many. I have written something (again) to address it. Posts | Rob Southcott | Powell River BC (wordpress.com) (20+) Facebook
Rob Southcott 604 414 8910
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We ought to care. these days its looking more like working people’s standard of living is going backwards and some Canadian politicians really aren’t helping and that includes the premiers of Alberta and Ontario.
Rising interest rates are not going to curb inflation. It will however cause people to loose their homes, vehicles, have less to eat, while those who accumulate more millions and billions continue to increase their wealth. It might be a good idea to implement a “wealth tax’ as the state of Washington has done. Their plan raises a lot of money and impacts very few.
The loss of workers’ rights and power will result in a decline of income for families, and then fewer people being able to afford going into post secondary education, and that will result in fewer health care workers, teachers, scientists, etc.
If we do not solve the problem through political action, we could be looking at a return to things like Harlan County, KY, U.S.A., There is a great documentary, Harlan County. If follows the 1973 strike in Harlan county and the violence.
In Canada we had violence also, i.e. The Winnipeg Strike i 1919, On to Ottawa Trek, 1935 (yes unemployed men were in “camps”), The Cumberland Mine strike–Ginger Goodwin’s murder.
Some of the billionaires and trillionaires are building “sanctuaries” for themselves and their families incase there is a revolt. However, this time many workers will be armed and not so easy to deal with. There are about 8 billion people on this earth and the majority live in squalid conditions and dying young due to lack of health care, clean water, etc. Then there is .01% of the 1%ers. Forbes reports there are 2750 people in the world who have a billion dollars or more. Are their lives any more important than those of the rest of humanity?
If we need to know how a country looks when the majority have little or no money, have a look at Haiti or just the streets of many towns in Canada where the lack of money and lots of drugs is “normal”
If nothing else we might want to ensure worker rights aren’t limited even further while corporate rights increase. lets not forget corporations cause pollution, which causes climte change, and that is how we get forest fires.
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Reich’s recollection of the union bosses’ visit with Clinton (near the end of the video) is a perfect example of how a gifted ‘schmoozer’ can make you forget all about your troubles and send you out the door with a smile on your face… and nothing in your pocket.
Schmoozers abound in government — and car dealerships. Look out!
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In Canada, Corporations have the best politicians money can buy. Just ask SNC Lavalin!
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I was struck by the revelation there hadn’t been a rule change by the Federal Trade Commission since 1978. Forty-five years through the increase in scope and technology of global trade and no legislation to keep up with it. No wonder the robber barons are enjoying themselves.
The magnitude of the drop in private sector unionization (from 35% to 6%) was also a surprise and helps explain why the gap between the have-nots and the really-haves is widening.
I used to think that the way to ensure workers formed really strong unions was to give them a reason. Seems to me the reason is here in spades as effectively illustrated by Robert Reich, but the will to do anything about it is missing. Workers are more likely these days to get a second or third job or a side hustle than put any effort into organizing their co-workers. It’s a mistake, and a lost opportunity to achieve any power that will influence legislators.
Reich’s vignette detailing the contemporaneous habits of four individuals in that long-ago law class was interesting in that their career behaviours basically went on to mirror his observations. And future teammates were already being chosen.
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I believe its not just people taking on 2 or 3 more jobs but the access to credit and why we and the U.S.A. have such high personal debt. When I was a kid, you might have a Sears, Eaton’s, or Bay credit card but not much else. there was a Diners and American Express care, but the later usually required a higher income. Now people use credit cards, lines of credit, etc and can continue with their life style. If they couldn’t they’d be much more likely to unionize and work towards better working conditions and higher wages.
Corporations run such nice commercials trying to conveince us they are such good “people” and they give back so much….. yada yada yada. Telus runs commericals telling us how much they give to charity and volunteer. They DON’T. Its their employees. Many corporations do a similar thing.
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