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We had a ruling class in the 90s as well, but wages increased. So the question is what is different about today?

by hyperpape 9y ago

spiralpolitik 9y ago
The ruling class is much greedier than they were in the 90s.
- s_kilk 9y ago
  They also have concrete proof (by way of the reaction to the 2008 crisis) that they have essentially unlimited license to be as greedy as they like, and the public will just take it.
  - logfromblammo 9y ago
    A modern Robespierre might know that his Thermidor is coming, but if you push him far enough, he might grow to believe that price is a bargain. Were I in the ownership class, I wouldn't exactly try to temper my avarice in absolute terms, but I would at least try to remain less conspicuously wealthy than my peers. As they say, you don't need to outrun the tiger, if you can outrun your friend.
jazzyk 9y ago
Globalization is a wet dream for the ruling class: - global demand markets to sell to - global labor markets to pick from I guess saying that makes me a xenophobe or some such, but I guess I will have to live with it :-)
- openasocket 9y ago
  I am of the opinion that globalization is unfairly maligned. Globalization increases competition and consumer choice, which drives down prices and spurs innovation to compete. Tariffs do nothing but put up barriers to entry into certain marketplaces and favoring certain companies. Globalization seeks simply to level the playing field. Companies may benefit from increased access to new markets and cheaper sources of goods and labor, but the consumer benefits as well with better products at cheaper prices. Developing nations have benefited by being able to open their doors to foreign investment. Companies pay these workers a pittance relative to workers in the developed nation, but more than those workers would be able to make otherwise. Companies also invest money into infrastructure and education in these nations. The standard of living in developing nations that have entered the global marketplace has improved dramatically. And increased international trade binds nations together, reducing international conflict. Globalization can stop wars! Globalization is not perfect, it has problems. It has hurt certain groups in the developed world, and things must be done to balance the situation. But it is still an impressive force for good that benefits a wide array of groups, and I don't like it when people just write it off.
antisthenes 9y ago
Wages increased temporarily. When accounted for reduced labor force and productivity, real wages have not risen for almost 35 years.

We had a ruling class in the 90s as well, but wages increased. So the question is what is different about today?

spiralpolitik 9y ago

The ruling class is much greedier than they were in the 90s.

s_kilk 9y ago
They also have concrete proof (by way of the reaction to the 2008 crisis) that they have essentially unlimited license to be as greedy as they like, and the public will just take it.
- logfromblammo 9y ago
  A modern Robespierre might know that his Thermidor is coming, but if you push him far enough, he might grow to believe that price is a bargain. Were I in the ownership class, I wouldn't exactly try to temper my avarice in absolute terms, but I would at least try to remain less conspicuously wealthy than my peers. As they say, you don't need to outrun the tiger, if you can outrun your friend.

jazzyk 9y ago

Globalization is a wet dream for the ruling class: - global demand markets to sell to - global labor markets to pick from I guess saying that makes me a xenophobe or some such, but I guess I will have to live with it :-)

openasocket 9y ago
I am of the opinion that globalization is unfairly maligned. Globalization increases competition and consumer choice, which drives down prices and spurs innovation to compete. Tariffs do nothing but put up barriers to entry into certain marketplaces and favoring certain companies. Globalization seeks simply to level the playing field. Companies may benefit from increased access to new markets and cheaper sources of goods and labor, but the consumer benefits as well with better products at cheaper prices. Developing nations have benefited by being able to open their doors to foreign investment. Companies pay these workers a pittance relative to workers in the developed nation, but more than those workers would be able to make otherwise. Companies also invest money into infrastructure and education in these nations. The standard of living in developing nations that have entered the global marketplace has improved dramatically. And increased international trade binds nations together, reducing international conflict. Globalization can stop wars! Globalization is not perfect, it has problems. It has hurt certain groups in the developed world, and things must be done to balance the situation. But it is still an impressive force for good that benefits a wide array of groups, and I don't like it when people just write it off.

antisthenes 9y ago

Wages increased temporarily. When accounted for reduced labor force and productivity, real wages have not risen for almost 35 years.