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Author Topic: Labor driven economics  (Read 534 times)

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Labor driven economics
« on: November 14, 2008, 07:04:21 PM »

All real, tangible wealth is ultimately created by labor. It is the value added to raw materials as they are gathered and worked into consumable products that is the origin of all real wealth. Furthermore, it is the spending power of labor that in turn creates a demand for the products that labor produces.

Capital is needed to establish the production of goods but without labor's purchasing driving the demand and creating the goods, capital by and of it self is useless. Take for instance the laborless boom we have been experiencing over the past several years where our economy grew despite the US producing less and less of it's own goods. This boom was driven by paper created wealth in the stock market and other traded securities. The crash we are now experiencing is the direct result of wealth and purchasing power(easy credit) created without a sound production base as it's source. In order to continue driving the economy, more and more capital was made easily available thru risky lending practices. As inflation adjusted earnings slipped, more and more people piled on debt in an effort to maintain the standard of living that was seen as the norm. This led to the inevitable crash.

The current economic model of the US economy is doomed to a downward spiral of lower wages, lower purchasing power, and ultimately a lower standard of living for everyone except the elite of capital. Those with the capital will be able to maintain their wealth by simply moving the money around the globe to where ever the grass is the greenest. For those not born into this privileged elite the path to success will become narrower over time. The number of high paying jobs with good benefits will shrink as we become a nation where our most common job opportunity is as a retail clerk.

Their was once a refrain in this country to "Buy American". That has been replace by the Walmart ad mantra "Always the lowest price." What people don't seem to realize is that walmart means that in all ways. Not just the lowest price to you the consumer, but always the lowest price for the labor walmart uses as well.

So how do we fix things?

1)Ditch free trade for fair trade. Impose tariffs on goods that come from countries with low wages and few worker protections. If those countries want to trade with us they can raise their workers standard of living and then compete with us on a level playing field. Add penalties to any country that isn't free and democratic as well.

2)Require all government agencies and anyone that does business with the government to buy only American made goods.

3)Require all companies that do business or sales goods in the US to pay taxes on the profits made from those goods. This does two things, first it prevents the Offshore office tax dodge and it also prevents foreign companies from profiting from the US without contributing to it(their goods use the same highways to get to market don't they? well then they can pay for it.)

Why is it important to get our trade back in balance? Whenever a good is produced and sold inside the same country, all money involved in that good stays in that countries system. When it is produced in one country and sold in another some of the money involved is transfered to the producing country. When trade is balanced there is no net effect, but with a $700 billion a year trade deficit, that's a lot of transferring we are doing.
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Re: Labor driven economics
« Reply #1 on: November 14, 2008, 08:09:25 PM »

Absolute fucking rubbish, if it was labour intensity rather than machinery that created wealth you would expect an agrarian economy like some african ones, ziare say, to be wealthier than pure service based economies like Singopore.

It is the accumulation of wealth that kick started the industrial revolution between 1700 and 1725, with good weather and big harvests which meant fewr capital had to be slaughtered, the labour force at the time had actually declined due to beubonic plague in the late 1600s.

Even Karl Marx said that labour scarcity created labour value and brought about the end to serfdom.

Labour free booms? what the hell are you talking about? Not only did unemployment fall in the USA, UK and elsewhere the labour workfore grew by an even more significant amount as foriegn labour was drawn in and women were more likley to enter the work force.

It has been a almost continues factor over the last 200 years that wages have risen across the board, the number of wealthy and middle class has risen.


Impose Tarrifs?
Thats what lead to the depression in the 30's after the wall street crash as countries endulged in rounds of protectionism and competative devaluations of their currencies.

you dont understand international finance, trade or flows or such eachway. Part of the 90's jobs boom in the uSA was down to massive inward investment by UK and Japanesse companies which created jobs and services for Americans as well as income, in return the UK and Japan got back their investments and that is also what the USA was doing.

IKts simple maths to realise that not every country can run a surplus on trade, someone has to be the debtor. It follows from that that the country most likley to be in debt is the country that can most likley pay the debt by producing wealth in the present and future, its poor countries debts that are the problem. It all balances out in the end.
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