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I've been thinking about this 'wage suppression cartel' as being the same basic idea as labor unions, only with the monopoly being on the side of business rathe
by stevesearer 13y ago
I've been thinking about this 'wage suppression cartel' as being the same basic idea as labor unions, only with the monopoly being on the side of business rather than labor.
But in a free market, contractual agreements would be upheld and enforced by an agreed upon arbiter.
- TuringTest 13y agoYup - it's the same basic idea as labor unions, but with participants taken from the group that controls 40% of the economy assets instead of those that have a near-minimum wage. That surely makes a difference in the amount of power that they can exert?
- stevesearer 13y agoThe basic idea of leveraging what you have a monopoly over is the same. But it is a good question you bring up of whether a group that controls 50% of economic assets in a particular industry is more powerful than a group that controls 50% of labor in the same industry.
- TuringTest 13y agoA group where money is concentrated in a few hands, vs a group with thousands of members that controls a labor force that can be easily replaced by robots or outsourced? There is no color to that struggle, it's finished before it started.