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View Diary: North Carolina Feeling Effects of Massive Teacher Wage Suppression (65 comments)

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  •  Free-Range Slavery (11+ / 0-)

    Free-range slavery is low cost, and has the advantage of workers clamoring at the gates to be one of the lucky ones chosen, but not quite desperate enough to become violent themselves when they are laid off. Far better to let governments and charities maintain a large population of potential workers, at no cost to the business right up until they actually need someone, and then only take them on contract for no more remuneration than necessary to ensure their participation. By "slaves," I mean people whose resources are nil or mediated by others, whose labor is directed by others, and whose return for that labor is at subsistence, regardless of the productivity of their labor. They may produce a value of 10X subsistence, but still only receive the bare minimum required to keep them alive. As they increase their productivity to 20X, they still only receive 1X in return. This, not overt ownership, is the functional structure of slavery. In fact, overt ownership is an inefficient and expensive way to control human labor. The wealthy did not succeed in the Great Depression in establishing free-range slavery, This time they might.

    You Don't Happen To Make It. You Make It Happen !

    by jeffrey789 on Wed Feb 12, 2014 at 05:23:26 AM PST

    •  Adam Smith (16+ / 0-)

      Advocates of an unregulated global economy like to use Scottish philosopher Adam Smith’s Wealth of Nations to support their bold claims about the invisible hand. Here is a passage from Wealth of Nations that is frequently (and purposefully) overlooked by libertarians.

      “No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable. It is but equity, besides, that they who feed, clothe and lodge the whole body of the people should have such a share of the produce of their own labor as to be themselves tolerably well fed, clothed and lodged.”

      And that’s just from the more market-friendly book. "The Theory of Moral Sentiments", Smith’s treaties on ethics.

      “This disposition to admire, and almost to worship, the rich and the powerful, and to despise, or, at least, to neglect persons of poor and mean condition, though necessary both to establish and to maintain the distinction of ranks and the order of society, is, at the same time, the great and most universal cause of the corruption of our moral sentiments. That wealth and greatness are often regarded with the respect and admiration which are due only to wisdom and virtue; and that the contempt, of which vice and folly are the only proper objects, is often more unjustly bestowed upon poverty and weakness, has been the complaint of moralists in all ages.

      You Don't Happen To Make It. You Make It Happen !

      by jeffrey789 on Wed Feb 12, 2014 at 05:47:19 AM PST

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