Comments by "TheThirdMan" (@thethirdman225) on "" video.
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@sickbox.sickbox That’s almost entirely theoretical and doesn’t explain the widening gap between owners and workers. Without workers, the owner’s opportunity to profit would be very limited.
Furthermore, as time goes on, the concentration of ownership at the top means the raise is much lower. Meanwhile, as real wages decline, workers are actually at greater risk. Billionaires, particularly, are at no risk at all.
Maybe this is what you learnt in high school future enterprise but really these days it’s little more than an apology for rampant profiteering.
The fact is that the market no longer generates jobs and almost never at a rate that’s needed. It’s entirely possible to achieve full employment without adversely affecting profits. But in a buyer’s market, your business owner has far more leverage that was probably ever intended.
In the case of publicly listed companies, CEOs know that cutbacks are the ticket to higher personal profits because they are all on share packages. They also know that the market responds well to job cuts so that there is no incentive to expand a business. The more they cut, the higher their bonus and the higher their dividend.
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