Send a Tweet
Most Popular Choices
Share on Facebook 16 Share on Twitter 6 Printer Friendly Page More Sharing
Exclusive to OpEdNews:
OpEdNews Op Eds    H2'ed 8/16/14

By What Means Have Income and Wealth Steadily Been Transferred to the Rich?

By       (Page 1 of 8 pages)     (# of views)   40 comments
Author 8235
Follow Me on Twitter     Message Richard Clark
Become a Fan
  (110 fans)
- Advertisement -

This transfer has mainly occurred by way of employers making sure that the profits and benefits of ever greater worker productivity (which advancing machinery and technology steadily provide) is rarely if ever shared with workers in the form of a reduced workweek and/or a higher hourly wage. Instead, this ongoing stream of newly created wealth is continually directed upward into their elite pockets.

Bertrand Russell provided the key to our topic question's answer way back in 1931 when he argued as follows:

- Advertisement -

* Suppose that, at a given moment, a certain number of people are engaged in the manufacture of pins -- they make as many pins as the world needs, working eight hours a day.

- Advertisement -

* Someone then makes an invention by which the same number of men can make twice as many pins as before.

* But the world does not need twice as many pins -- pins are already so cheap that hardly any more will be bought at a lower price.

* In a sensible world, everybody concerned in the manufacture of the pins would take to working four hours instead of eight each day, and everything else would go on as before.

- Advertisement -

* But in the actual world this would be thought demoralizing. (It would also represent a dereliction of 'duty' on the part of company owners, who can and do profit greatly by firing half their work force, in a situation like this, and essentially keeping those cancelled payments to workers for themselves and their companies' stockholders.)

* So, unless half of these employees are fired quickly, they will still work eight hours each day, there will be too many pins, some employers will go bankrupt, and half the men previously involved in making pins will eventually be thrown out of work.

Next Page  1  |  2  |  3  |  4  |  5  |  6  |  7  |  8

 

- Advertisement -

Must Read 4   Well Said 4   Valuable 2  
Rate It | View Ratings

Richard Clark Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Follow Me on Twitter     Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Was Pat Tillman Murdered by an American Sharpshooter to Shut Him up?

New JFK assassination bombshells

Two U.S. presidents implicated by ex-CIA black-ops assassin

The cholesterol - heart disease scam: How the medical-industrial complex is raking in billions at our expense

Four Ticking Time Bombs That Will Soon Ignite a Revolution

The Ultimate Goal of the Bankster-led Political-economic Warfare Being Waged Against Us Is . . . ?