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The rich get richer, and even upper middle class are becoming more like regular middle class with the wealth inequality (reference the famous youtube video).
How do you get the middle class to collectively fight against these lower wages when they are all fighting each other for jobs to begin with? It is quite the task.
Good Luck. We are lulled into a stupor in our cubicles while we surf the net trying to decide which Apple products to buy.
The comment here is a great example of "not understanding the problem".
Because simply put, when you can invest only $500 a year.....you will never ever EVER catch up with the person who starts off with a 1 million dollar set of investments.
The goal is to catch up to the billionaires? Hmmm...I was never aware that was the goal.
That's not my goal, yet I am doing just fine and I invest in companies to get a piece of their profits.
P.S your $500 invested over 45 years would be worth~400k if you returned 10%, or over 1% less than the market over the past 45 years.
With that same logic, can't we also say 'let's blame the ones who come in to fill those jobs when others refuse'?
After all, no one is indispensable. As the following poster, suggested... everyone is fighting for jobs.
The original poster is just stating truth... profits continue as in the corporation I work for... they are demanding more while reducing wages... and yet the operating margins show no change... and they grow, and grow, and grow while we work our tails off... and still, we are dispensable.
At most companies the top executives aren't seeing any stagnation in their wages, quite the opposite. CEOs, CFO, presidents, vice presidents, etc. The top takes care of the top. Everyone else is just an expense to be cut as deeply as possible. The larger the company, and the farther executives are from their workers the stronger this tendency gets.
As long as people continue to accept those wages, they will continue to "stagnate". When people refuse to work for lower wages, employers will be forced to increase them.
If you want to get mad at someone, get mad at the millions of people who continue to work for peanuts. They're the ones setting the wages.
If you didn't know already, companies just outsource labor to the cheapest location. If their local labor pool strikes, trust me, in this economy, they'll find somebody that will work for peanuts. The only time where labor can be demanding regarding wage/salary is when the supply gets low for skilled people. That's why a newly minted physical therapist gets paid $65k to start.
Employers, if they can, will recruit cheaper labor from abroad. I've seen this with engineering. I also know that a lot of nurses from the Philippines are recruited to work in the USA.
Perhaps you can get mad at millions of people for refusing to pursue a skilled profession? But, you can't just get mad at them due to circumstances out of their control. They don't determine the market rate for wages. Hey, we haven't had any huge social unrest in this nation for a while. Wasn't all of that activism just a 60's phenomenon? They surely had guts back then to take on the system. So, if anyone leaps up to lead a true strike, that would be wild. Not a little strike like we see occasionally. It's gotta be an epic biggie that makes world news and causes some people at the tippy top to pee their pants. That might be hard to do though. Globalization gives a lot of business the chance to pick up and leave. They can manufacture in say, China or Mexico and they can sell to other markets like Latin America, Southeast Asia, or wherever. There's so much global access that its just too easy to go where the least costs, least regulations, and greatest profits abound.
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