Aretae

The virtue of excellence

Thursday, July 30, 2009

Wage Slavery -- Wow

Wow. There are awfully smart people thinking.

A justification of the term wage-slavery.

WOW. Of course, it's government enforced...but we all knew it would be.
Posted by at

2 comments:

Andrew said...

(This is what happens when I'm in a mood to argue on the 'net and you're Away From Keyboard!)

But in industrial capitalism, arguably, the importance of landlordism has been surpassed in importance by the money monopoly. Under that latter form of privilege, the state’s licensing of banks, capitalization requirements, and other market entry barriers enable banks to charge a monopoly price for loans in the form of usurious interest rates. Thus, labor’s access to capital is restricted, and labor is forced to pay tribute in the form of artificially high interest rates.

Nah. This monopsony stuff is not flying with me.

The problem IS real, but it is completely different than diagnosed by this...leftist :P

1) INFLATION. The government successfully grabs 10%?/year of EVERYONE's pure-dollar assets. ( http://safehaven.com/article-5205.htm -- which I HIGHLY RECOMMEND reading in full, carefully, on general principles -- see how long it takes you to recognize the secret author from his style!) This is indeed proportionately HARDEST on those who must keep most of their available funds in simple cash dollars -- i.e. on upstart entrepreneurs.

2) Yes, the leftist guy is right that regulations and such HUGELY favor big established players. ( http://www.mindfully.org/Farm/2003/Everything-Is-Illegal1esp03.htm ) Nonetheless, individual monopsony firms would compete viciously with each other if they could. After all, 'we' (U.S.A.) prosecute cartels! (...which is kinda good given barriers to entry, since even Adam Smith is famous for, "Businessmen seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public.") So, he also needs to address rules applying to big businesses making it hard for them to be cutthroat-rational. (I bet this can be done. Just sayin'.)

August 3, 2009 at 9:31 PM
Andrew said...

BTW, looking fresh at the university system behemoth should be a great place to generate insights as to when cartels are NOT prosecuted and how they are also protected from outside firms.

August 3, 2009 at 9:34 PM

Post a Comment

Subscribe to: Post Comments (Atom)