Tuesday, March 11, 2014
FTSOA: Job Insecurity Is Job One...
This extravagantly lugubriously visaged, perverted old sad-sack is Allen Greenspan, former, long-time chief of the Fed, from 1987 into 2006, under four at least nominally different presidents: Raygoon (appointed him), then Poppi Bush, next the Clenis and finally the Chimperor. It's strong, circumstantial evidence that those who struggle to discern meaningful differences between the GOPhukkks and the Dims may be on to something...but I digress...
Before coming to gummint, Greenspan was Aynal Rand's spiritual and intellectual towel-boy, before he latched onto Andrea Mitchell. (They're into BDSM, I'm sure of it.)
The logic of insecurity represented in the poster is exactly the logic undergirding much so-called 'industrial relations' theory, including what is called "structural unemployment." It is a constant rate of unemployment. The economic analysts and planners build in an unemployment rate into their calculations. A certain level is given.
The problem, for the Bosses, izzat in the event of "full employment," workers could and would move with their skills to other jobs if their current employers were to disappoint them. This is bad for business.
Monetary fluidity is good; labor fluidity--workers being able to up and move--is bad.
So, through various expedients--including recessions, depressions, and the like--capitalism builds a pool of "structurally unemployed" workers with whom to (implicitly and/or explicitly) threaten workers with the loss of their jobs--and concomitant benefits--to keep them in line and compliant, if not docile.
Structural Unemployment used to be about 2%, in the boom times after WW II; then it was about 4%, in the 70s and 80s. Since the Collapse of '08, they're readjusting upwards again to between 6 and 8%.
Interesting to note how the number of "structurally unemployed" has risen as union membership in the private sector has fallen.