Log Day 01.25.2021
“Yet the notion that you’re paid what you’re “worth” is by now so deeply ingrained in the public consciousness that many who earn very little assume it’s their own fault.”
― Robert B. Reich, Saving Capitalism: For the Many, Not the Few
"Saving Capitalism: For the Many, Not the Few, is a passionate yet practical, sweeping yet minutely argued, myth-shattering breakdown of what's wrong with our political-economic system, and what it will take to fix it.
Perhaps no one is better acquainted with the intersection of finance and politics than Robert B. Reich, and now he reveals the cycles of power and influence that have perpetuated a new American oligarchy, a shrinking middle class, and the greatest income inequality and wealth disparity in eighty years. He makes clear how centrally problematic our veneration of the "free market" is, and how it has masked the power of the moneyed interests to tilt the market to their benefit. He exposes the falsehoods that have been bolstered by the corruption of our democracy by big corporations and the revolving door between Washington and Wall Street-- that all workers are paid what they're "worth," a higher minimum wage equals fewer jobs, corporations must serve shareholders before employees. Ever the pragmatist, Reich sees hope for reversing our slide toward inequality and diminished opportunity by shoring up the countervailing power of everyone else. Here is a revelatory indictment of our economic status quo and an empowering call to civic action." (Source: https://www.goodreads.com/book/show/24338377-saving-capitalism)
What do you think your work is worth? If you were able to decide how much you get paid hourly you'd ask for way more than you've probably been offered? Capitalism is dependent on the low-wage labor and exploitation of people who are helping make the billions of dollars that line the pockets of large corporations and shareholders. The economy is not dependent on the stock market and vice versa. The economy is dependent on people and jobs and how much you're paid, and then how much of that money is circulated into the economy. The free market works in favor of big business. In economic downturns small businesses will always be the ones that struggle and suffer the most. That's when the government comes in and provides support and assistance. Capitalism is also dependent on government interventions. Sounds a little socialistic doesn't it. Providing support for all Americans no matter what their tax contributions is during a global pandemic is just good governance. Providing opportunity for ALL and not just for the few is the right thing to do. Economically.