Why has the economy gone from the head of household working one job and supporting the family to two people working multiple jobs to do the same? Or single people working two or more jobs and sharing economic cost? This crises can be summed up to two economic exploits; corporate power and economic cheating, but no one should be forced to work two jobs for the purpose of survival.
People over the age of 50 can remember when these economic phenomena changed, which was during the early eighties. The cost of living rose at the same time the cost of living pay raises stopped. For example, anyone working for the government at any level, federal, state, or local, used to get a cost of living raise every year at least 2 percent up to 5 percent. The same was true in many private companies.
That stopped suddenly in the early eighties when government employers started claiming cut backs. Those cut backs were not because the government was running out of money, but because they started paying private companies to do the jobs they were responsible for, such as trach collection, infrastructure maintenance, and water treatment.
The privatization of government jobs started the contract economy where private companies started bidding on government jobs. As the contract economy rose, the quality of service fell and people started having to pay extra for things in fees and hidden cost. Electric, water, and home heating fuel cost rose after that.
Private companies claimed that if the public wanted better service, they would have to pay extra for it. The government never did that because it was dedicated to improving life for all its citizens. On the other hand, corporations do it for profit motives only and to enrich the people who own the companies.
Furthermore, as private companies took over government responsibility, politics became more controversial as private companies started blaming the government for the many regulations applied to them. The only reason more regulations came to exist is because of the poor quality of service the public was receiving. Unfortunately, when the public started complaining about the fees and poor service, corporations took it to the courts and the courts would side with the corporations more, to the point the courts legalized corporations as people.
In comes corporate greed and wage inequality. As private companies became more powerful, they started exploiting their workers by paying them less, taking away benefits, and rising the cost of their products on the market. Those who were working to produce the products were paying more for the products. This in turn started a worker revolt and high job turnover rates because people started quitting and looking for better jobs.
This all opened up a private employment system of temporary work agencies who would bargain between workers and employers. The temp agencies were paid the difference in pay those workers used to get in exchange for providing workers to corporations. It was the scam of a lifetime. As employment agencies became more popular, workers had to find second jobs because employers were shafting them on pay.
Unions were busted up, corporations gained more legal power, and families started facing harsher realities in the economy. The problem lies with the power private corporations have gotten from the courts, who are in cahoots with lawmakers who also profit from this dark economy through lobbyist and corporate lawyers.
So here we are, locked into an illegal economy that favors the wealthy business owners and oppresses the average worker. The worker did not change or get lazier or less productive. Big business has gotten greedier.
The Citizens United v. FEC decision in 2010 allowed for unlimited independent political spending by corporations and unions in elections. This has had several negative effects on workers:
- Corporate Influence Over Policy: With increased spending power, corporations can exert significant influence over political campaigns and policy decisions. This can lead to legislation that favors corporate profits over workers’ rights, job security, and labor protections.
- Diminished Labor Voice: As corporations expand their political spending, the voices of workers and labor unions may be overshadowed. Unions often struggle to raise comparable funds, which can weaken their negotiation power and ability to advocate for worker interests.
- Anti-Labor Legislation: The influx of corporate money into politics can result in the promotion of anti-labor policies, such as right-to-work laws, which undermine union strength and worker protections.
- Focus on Shareholder Value: Corporate spending may prioritize policies that benefit shareholders over employees, leading to practices that minimize wages, benefits, and job security in favor of maximizing profits.
Overall, the Citizens United decision has contributed to an environment where worker interests can be overlooked in favor of corporate influence, ultimately harming workers’ rights and welfare.
In addition, corporation have been given the legal right to but their own stock back which causes the stock price to increase, which was at one time illegal. Here are five reasons stock buy backs hurt the economy and worker longevity:
- Short-term Focus: Buybacks often prioritize short-term share price appreciation over long-term investments in growth, innovation, or employee development. This can undermine the company’s long-term viability and stakeholder interests.
- Resource Allocation: Companies might use funds for buybacks instead of reinvesting in improving products, services, or employee wages. This can reflect a disregard for broader economic or social responsibilities.
- Market Manipulation: Buybacks can artificially inflate stock prices and create an appearance of financial health, potentially misleading investors about the company’s actual performance. This can reduce market integrity.
- Inequality: Buybacks tend to benefit shareholders, including executives who often hold substantial stock options, while employees and other stakeholders may not see similar benefits. This can exacerbate income inequality and disregard the workforce’s contributions.
- Debt Accumulation: Some companies finance buybacks through debt, increasing their financial risk. This can endanger the company’s stability and the jobs of employees if the business environment changes.
Basically, while buybacks can be a legitimate tool for returning capital to shareholders, their frequent use at the expense of long-term growth, employee welfare, and market integrity raises ethical concerns in the business context.
Many voters are concerned about the economy but do not know the entire history behind how the economy has been turned against the worker for the benefit of corporations. We need more education on the economy instead of blaming presidential administrations and believing that gas prices based on who’s president is a means to an end.
DISCLAIMER: The content of Pro Liberation is firmly opinionated and is not meant to be interpreted as official news. We glean facts and quotes from mainstream news websites and abridge its meaning for readers to relate. We do not indulge in misinformation, conspiracy theories, or false doctrine but choose to express our right to free speech as citizens of this country and free born under God the Creator. We represent Nu Life Alliance Inc. a non-profit organization in the battle for social and economic justice. Donate to our cause at the following link. DONATE
