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Full employment is a turning point for capitalism

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Full employment will reduce worker supply on the market, which will increase worker salaries and create decent capitalism. Then it will initiate developing a market of work which will create socialism.

Unemployment creates exploitation of workers

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The owners of capital favour unemployment, because unemployed workers have to accept poorly paid jobs to be able to feed their families. A higher unemployment rate produces cheaper labour. Unemployment is not difficult to maintain because employers most often do not need to hire employees. Also, the owners of capital support political parties that keep unemployment through economic policy. It starts with importing cheap labour and ends with rising interest rates. This is how unemployment becomes a state policy and how state policy maintains the exploitation of workers. All the exploitation of workers has its origin in unemployment. I wrote more about it in the article: Let's remove unemployment.

The rich people have imposed believing that unemployment is the unavoidable price, which must be paid for technological development. They have pressured economic science to accept that 0% of unemployment is not a positive thing, which they accomplished. The capitalists have found an unemployment rate of about 5% the most convenient to them so that 5% of unemployment has become a "normal" state in capitalist society. This "normal" state makes workers dependent on capitalists. It allows the exploitation of workers through low labour costs, while the total purchasing power of workers is still large enough to produce profits for private companies. However, such a policy has enlarged the gap between rich and poor, which increases problems in society.

We can eliminate unemployment

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We may inverse the process of unemployment by shorter work hours. Reducing work hours by 5% should eliminate 5% unemployment. In this way, workers will become more demanded by employers. When workers are not available on the market, employers who need new workers will have to get them from other employers by raising their salaries. Competition among employers will start a chain reaction in which workers' salaries will gradually grow. It would create a fair market for work with a balanced demand for all workers. Removing of unemployment will remove the exploitation of workers.

We can reach even negative unemployment

The rise in worker salaries may be accelerated by creating negative unemployment. Negative unemployment means creating a work environment with a permanent lack of workers. Reversing a 5% unemployment with the same negative unemployment would mean the complete elimination of unemployment plus the creation of 5% work posts, which cannot get workers because they do not exist. It would require shorter work hours of all workers for around 10%. Such a measure would require reducing 8 hours workday to approximately 7 hours (along with preventing work imports).

Empty workplaces will put workers in a privileged position, in which employers have been from ever, and this will force employers to raise worker salaries more intensively. It would initialize a chain reaction in which workers' salaries would grow significantly.

History proved that negative unemployment rose workers' salaries

The rising of workers' salaries in the negative-unemployment environment was proved in the 14th century when the Black Death killed one-third of the European population. Suddenly, the crops in the fields languished because there were not enough people to harvest them. "The shortage of servants, craftsmen, and workmen, and of agricultural workers and labourers, left a great many lords and people without service and attendance." Suddenly workers and their labour were in much higher demand, enabling those who survived the Black Death to be in a much better position to negotiate work conditions. The shortage of workers increased the workers' wages.

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At Cuxham (Oxfordshire, England), a plowman demanded from his Lord a payment three times greater in 1350 than in the previous year (The Economic Impact of the Black Death, Economic History Association).

"In Parliament, in 1351 the Commons petitioned Edward III for a more resolute and effective response. They complained that 'servants completely disregard the said ordinance in the interests of their ease and greed and that they withhold their services to great men and others unless they have liveries and wages twice or three times as great as [prior to the plague] to the serious damage of the great men and impoverishment of all members of the said commons.'" (Michael Bennett, Australian Journal of Law and Society, 1995, The Impact of the Black Death on English Legal History, Page 197.)

Politics can create a better capitalism

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Aleksandar Sarovic Social Media Pages: Facebook Page       Twitter Page       Linked In Page       Instagram page url on login Profile not filled in

Aleksandar Sarovic is an architect and philosopher who has worked on how to create a good society for 37 years. According to him, equal human rights will unconditionally create a bright future of humankind. His findings are presented in the book "Humanism - A Philosophic-Ethical-Political-Economic Study of the Development of the Society." His work is presented (more...)
 

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