> Workers started unionizing, getting raises & taking advantage of a tight labor market to get a slightly better deal

> The ruling class freaked, now the Fed is engineering a recession ostensibly to get inflation under control, but it functions to destroy the growing power of labor.

> Capitalism needs a reserve army of labor to discipline and threaten active labor, and to be able to easily and quickly replace uppity workers with ever-more desperate people who will work for less and under worse conditions out of extreme precarity & fear of total immiseration.

  • CheGueBeara [he/him]
    ·
    2 years ago

    It's "fun" to see even the usual sociopathic economists say that this theory has been proven blatantly wrong over the past year, then see folks like Summers double down on the anti-worker incantations.

    The field can't even reign in its own monsters.

      • CheGueBeara [he/him]
        ·
        2 years ago

        Well yes. Summers is just a mouthpiece for the bourgeoisie. But it's funny to watch people that take themselves so seriously fail to institute any peer standards whatsoever, instead shrinking into their little corners where they whitewash some smaller bourgeois monstrosity.