Employers demonstrated their infidelity to their staff by paying loyal workers, on average, 7% less than new hires — 20 years ago, salaries were largely the same between new and longtime employees.
Employers demonstrated their infidelity to their staff by paying loyal workers, on average, 7% less than new hires — 20 years ago, salaries were largely the same between new and longtime employees.
I know, right? It’s almost as if an entire generation decided that they would mortgage future generations and the environment in order to have nicer things than their parents and their kids.
Worse: it’s that they leveraged four entire generations (and counting) and the environment in order to have a higher degree of nicer things than their parents had over their parents. Up until our generations (gen X is included), every generation had it better than the previous. But thank ol’ Ronnie Reagan and the culture of deregulation that literally jump started the beginning of the end of late stage capitalism.
Even in the EU, where things are “better,” the culture of deregulation changed the course of history. European citizens do have it better, but when comparing against the US, it’s like, hard to be much worse. Now, of course this is all relative and from a hugely biased ethnocentric perspective, but being the “leaders” of the world, the decision made in the US have a huge ripple effect across the world. We exploited more people, and the resulting explosion of profits led to more power for money in politics, which led to worse exploitation across the world, which led to higher profits, ad Infinitum. We’re only a few decades on from the deregul-eighties and the effects have only grown exponentially as they amass more power via more wealth, and more wealth via more power.
Wait – is it capitalism is inherently inequal and unsustainable, or ol’ Racist Ronnie did this? Is it both and he accelerated us?
We’ve been reaching the logical conclusion to capitalism, and we were going to anyway. But he jump started the beginning of the endgame. More profit, lower margins is always the end goal. This was inevitable. But he clicked the process into hyper speed.
I tend to agree – Greed and money becoming the only virtue… Doesn’t even matter how you get it anymore even a little bit.