Low-wage economy?

Picasso

Picasso

Legendary Member
Orange Room Supporter
I was reading a review of a book published recently titled: "Low-wage Capitalism" and the writer Fred Goldstein stated several reasons for why the wages globally are going downward:

* The world's workforce available to exploitation by transnational capitalist corporations doubled in the wake of the collapse of the USSR and Eastern Europe.
* The technological revolutions of the digital age, in both production and communications, have allowed transnational corporations to destroy high-wage jobs and simultaneously expand the global workforce to generate a worldwide wage competition.
* The decline in the economic condition of the workers, driven by the laws of capitalism and the capitalist class, is leading to the end of working-class compromise and retreat and must end up in a profound revival of the struggle against capitalism.

On a local level, I know some teachers whose salaries are LBP 350,000 or 400,000 per month. And even in other fields like Accounting which is supposed to give better opportunities regarding wages, if junior accountants ask for $ 500 they won't call them back. So, is it the lack of law enforcement because the minimum salary is 500,000 + 208,000 (26*8,000) Transport, especially that some companies can give higher wages without a problem, or the whole system is exploiting the poor, because even if they get the $ 500, this sum is for the rent without the other bills.

And how did you improve your wage if you've succeeded to maintain a minimum salary even if you change your job, because when someone searches for another job it's like he goes back to his previous situation, accept the offered low-wage job or leave it.
 
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  • Picasso

    Picasso

    Legendary Member
    Orange Room Supporter
    How poor people survive in the USA | DW Documentary

     
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