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Declining worker power vs. rising monopoly power: explaining recent macro trends

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Re: Declining worker power vs. rising monopoly power: explaining recent macro trends

#21

Post by babycake »

brenden2 wrote: post #2

I think this plays into the current social unrest as well. People have been trying to separate the looters and protestors, but they seem to completely ignore the extreme inequality that exists throughout the US, especially in this period of high unemployment. People at the bottom have it bad, very bad. Being ignorant of that problem is just going to make it worse. Lashing out at fancy retailers in fancy neighbourhood…

Politicians, police, corporations, media... the institution is trying to pushing the idea that protestors == looters. And therefore the protests should be quelled. Several states even went so far as to declare, without any evidence, that the majority of the people in the protests were from out-of-state troublemakers... which makes no sense. Even more fitting, President Trump called the protestors thugs and terrorists. It's all part of a design to stop the momentum of these protests.

It's not the people who are 'ignoring' the inequalities. With 40+ million unemployed, unable to feed or pay rent, watching their tax dollars get gulped up by big corporations from the 'small business loan program', unable to get their unemployment checks, and getting beaten by police for no reason other than race and deep pocket money from politicians/rich elites. People at the bottom know exactly what's happening, because it affects their personal livelihoods very deeply, and the combination of those issues is why they are on the streets protesting day and night, while computer people like HNers who are generally well off are still behind a corporate desk with no unions, and only observing from afar.

Re: Declining worker power vs. rising monopoly power: explaining recent macro trends

#22

Post by lotsofpulp »

brenden2 wrote: post #16
asdfasgasdgasdg wrote: post #13

Earlier quoted context omitted.

Do you really think so? These stores all have insurance. The deductibles will hurt a little but I don't think it's going to be game changing, especially for any national or international chains.

It hurts insurance companies, but it's great for anyone who fixes or repairs windows.

Until the businesses don’t exist anymore because it’s not possible to insure at a price where people will still buy product.

Re: Declining worker power vs. rising monopoly power: explaining recent macro trends

#23

Post by toomuchtodo »

whatshisface wrote: post #17
Miner49er wrote: post #14

Earlier quoted context omitted.

Well, history shows us where that kind of disdain for the poor will eventually lead. It isn't gonna be good for the rich.

... or the poor.

There are 600 billionaires in the US. There are 40 million unemployed Americans. There are about 700k law enforcement officers in the entire country. The math is straightforward.

Re: Declining worker power vs. rising monopoly power: explaining recent macro trends

#25

Post by pydry »

asdfasgasdgasdg wrote: post #13
pydry wrote: post #5

Earlier quoted context omitted.

In all likelihood lashing out at fancy retailers will be effective. Additional police powers and crackdowns will be paired with throwing the rioters a few bones (e.g. greater checks on police powers and throwing the book at George Floyd's murderers). Of course, the elites will pretend that they meant to throw that bone all along and will vehemently deny it has anything to do with a smashed up Gucci store in Beverly H…

Do you really think so? These stores all have insurance. The deductibles will hurt a little but I don't think it's going to be game changing, especially for any national or international chains.

Yes. I don't think it's a problem for them financially, it's just it's a a powerful symbol of the control that they have lost.

That's why they'll pull out all of the stops including heavy handed propaganda, agent provocateurs, sending in the army (if it gets much worse) and even (finally, with gritted teeth), appeasement.

Historically riots have often presaged regime change as it can uncover how dangerously exposed the elites are and how little support the elites have. Unlikely in this case, but it's still the same process that scares the bejesus out of most regimes.

Re: Declining worker power vs. rising monopoly power: explaining recent macro trends

#26

Post by lisper »

metalliqaz wrote: post #8
brenden2 wrote: post #2

I think this plays into the current social unrest as well. People have been trying to separate the looters and protestors, but they seem to completely ignore the extreme inequality that exists throughout the US, especially in this period of high unemployment. People at the bottom have it bad, very bad. Being ignorant of that problem is just going to make it worse. Lashing out at fancy retailers in fancy neighbourhood…

I know a few rich people. They basically want Trump to just shoot all the protesters. I don't see any message being received.

I'm rich. Not filthy-stinking-rich but financially independent, own a house in Silicon Valley with no debt, and my sympathies are entirely with the protestors. Black people are still treated as second class citizens in the U.S. and that needs to change immediately if not sooner. Ever since George Zimmerman was acquitted of murdering Trayvon Martin, there has been a segment of the country who have interpreted that as heralding open season on niggers.

I'm pretty sure you'll find similar sentiments in this group:

https://patrioticmillionaires.org/

Yes, some rich people are racist assholes, but we're not all like that. Lumping us all together is the exact same sin as lumping all black people together because some looters are black.

Re: Declining worker power vs. rising monopoly power: explaining recent macro trends

#27

Post by RcouF1uZ4gsC »

The big issue is supply and demand. With increasing automation and global supply chains, there is a huge amount of labor available relative to the need.

In the past, a union strike at a plant would see a generous long-term contract and benefits for the workers. Now, it is likely for the plant to be moved or workers replaced with automation.

Re: Declining worker power vs. rising monopoly power: explaining recent macro trends

#28

Post by whatshisface »

toomuchtodo wrote: post #23
whatshisface wrote: post #17

Earlier quoted context omitted.

... or the poor.

There are 600 billionaires in the US. There are 40 million unemployed Americans. There are about 700k law enforcement officers in the entire country. The math is straightforward.

Indeed, the math is simple: 600 + 700k + 40M = 40,700,600 people who stand to lose if supply chains stop working and the recovery from the downturn is not swift. If you look at the history of insurrections, the poor tend to eat it just as much if not more than the rich. Examples: French revolution, Russian revolution, Chinese revolution...

Re: Declining worker power vs. rising monopoly power: explaining recent macro trends

#29

Post by brenden2 »

lotsofpulp wrote: post #22
brenden2 wrote: post #16

Earlier quoted context omitted.

It hurts insurance companies, but it's great for anyone who fixes or repairs windows.

Until the businesses don’t exist anymore because it’s not possible to insure at a price where people will still buy product.

These are mostly big chains, I think they'll be okay.

Re: Declining worker power vs. rising monopoly power: explaining recent macro trends

#30

Post by Miner49er »

whatshisface wrote: post #28
toomuchtodo wrote: post #23

Earlier quoted context omitted.

There are 600 billionaires in the US. There are 40 million unemployed Americans. There are about 700k law enforcement officers in the entire country. The math is straightforward.

Indeed, the math is simple: 600 + 700k + 40M = 40,700,600 people who stand to lose if supply chains stop working and the recovery from the downturn is not swift. If you look at the history of insurrections, the poor tend to eat it just as much if not more than the rich. Examples: French revolution, Russian revolution, Chinese revolution...

The rich aren't needed for supply chains to work, and taking their wealth and redistributing it would likely make the recovery quicker. That was basically the entire goal of the New Deal.
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