Tim Gurner, the viral Australian multimillionaire who wants more workers to be unemployed, was debunked by an economist in 1943.
This guy sounds like an idiot and a psychopath.
If everyone is employed and doing well, sure that might mean they have option and don’t feel they have to work as hard. It also means people have money, and are spending that money, which means money and growth for businesses. Who cares if projects take a little longer, as long as people are still buying shit.
This guy seems to not understand why businesses exist and is instead only interested in power dynamics. If that’s his point of view, he doesn’t belong in business, he sounds more like a corrupt politician.
Why do you think 5% unemployment is considered “full” employment? Why are billionaires and treasury appointees also so horny for raising unemployment?
Structural unemployment is fundamental to capitalism. He is a psychopath, because behind every great fortune is a great crime.
That’s the fucked up thing about the system. It builds excuses for itself so that people can shrug it off. It’s the guilt avoidance, a way to keep members of a cult docile. It’s only by accepting the guilt that you understand what to do with it (help the people who are harmed, and stop the harm).
If you take the time to learn about trauma response in survivors and the various ways trauma manifests then extrapolate that out to the macro level, everything becomes much clearer. And sinister.
It’s all just abuse. Society doesn’t want you to be self sufficient, critically thinking and debt free. Then it would have to persuade you thru rational discourse.
If your broken and in need, well, the old saying applies; the power to relieve pain is 1000x greater than the power to inflict.
It also helps when you’re the one inflicting the pain, then rationing the salves.
Quoted from the article: Australia’s GDP, after falling in 2020 during the first year of Covid-19, has bounced back vigorously and appears on track to grow at about the same rate as it has over the past 20 years.
Here’s the thing, we either accept that COVID is still a thing and follow measures to mitigate it resulting in probable negative economic effects, OR we continue down our current path resulting in a labor shortage. The bourgeoisie can’t have it both ways, but they don’t want to accept that.
That’s not true!
We could also collapse the economy so the demand for labor falls faster than people can die or become disabled. 🤑
Why do you think 5% unemployment is considered “full” employment?
I’ve sometimes seen it written as 3%, but generally that’s included to provide a more accurate estimate of overall employment. It represents the people who are currently between jobs and are actively searching for a new one. I probably would have been included in that stat when I left an abusive employer and searched until I found my current one.
It isn’t some kind of capitalist conspiracy.
It’s just market dynamics. In order for there to be a healthy capitalist economy there must be people between jobs i.e. people without jobs i.e. the reserve army of labor. Structural unemployment is built in to the system, there isn’t a literal cabal of people that actually enforces it (although the Fed is trying to boost unemployment with tight fiscal policy, so its not the market is natural and exists on its own without human manipulation)
—there isn’t a literal cabal of people that actually enforces it (although the Fed is trying to boost unemployment with tight fiscal policy, so its not the market is natural and exists on its own without human manipulation)
You say there isn’t while describing the one that is.
Regardless, those at the top meet annually in Davos. They all know each other, they sit on various boards with each other. They don’t need to even make phone calls to spread any word or idea, just spread it in a board meeting and by the end of the week it’ll be global
With power in the hands of so few, there doesn’t need to be a singular voice in control. all their interests already align
So “market dynamics” really just means the explicit interests of robberbarons and landleaches.
Consolidated wealth has a profound effect on the human psyche, not one bit of which offers anything beneficial.
Philanthropy isn’t charity, it’s PR.
You say there isn’t while describing the one that is.
Yes, because it’s not a secret and it’s not illegal. Those are actually hallmarks of conspiracies. These people openly do this stuff lol
it’s not stupid; having a “reserve army of labor” of desperate people in unemployment willing to work for less than employed people is intentional.
Having all these people desperate to work for less wages than already-employed people do serves to drive down wages and therefore drive up profits for the employer class
It’s hard for profits to rise when people don’t have money to spend.
Henry Ford pushed the 40 hour work week main stream and raised wages. Why? Because for people to buy cars they needed money to buy the cars and use on trips, and time to spend going places after work or on the weekends.
Unemployed and underpaid people aren’t going to be buying many products. Having a pool of slaves is no good when there isn’t a pool of consumers to sell to.
Cost cutting as a means to profitability can only go so far. Growth really has no limits.
Part of it is wealth disparity. Basic necessities take up a lot of the average persons income and they canot afford to higher someone like themselves to do things while those of great wealth can hire many with at most trivial impact to their income. It does not help that so few are involved in food production now so much of the disparity is disparity in production of necessities.
I think there are strong arguments in favor of the working class needing better balance right now.
You’re right. The middle class is still hurting. It really should shake loose more of the top’s wealth via union strikes, quiet quitting, etc.
This is also the real reason why conservatives are again pushing to do away with child labor restrictions in the US. If a child is allowed to do the job for a lower wage, it lowers the wage for adults, too.
I think it’s part of the same reason for abortion restrictions.
IMO, abortion restrictions are about reducing women’s independence, and keeping society patriarchal. That and keeping white people the majority.
It’s just a happy coincidence that it could result in more poor people who are desperate to take any job, although infant mortality is up in abortion restricted states post Roe, so it may not quite work out that way.
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With high unemployment there is greater competition for jobs so employers can offer worse terms and conditions, therefore maximising profit.
Imagine being talked down like that by a nepo baby
Great article, thanks for posting. I also left a donation.
“The reality is that we have the tools to create a much better, richer society for everyone. But the people at the top would prefer a worse, poorer country, if that’s what’s required for them to stay completely in charge.”
This is so true. The world as it is now is so depressing and the ones at the top like it that way.
Very good article!
thanks for posting this, great read
