> 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.

  • Tankiedesantski [he/him]
    ·
    2 years ago

    The unemployment Summers is talking about would have to be in the middle class since they have the most impact on spending. It’s going to radicalize a lot of people.

    Unfortunately the right is so far ahead of the left on organization and political power we should probably be worried.

    Yeah. Look which way the radicalization went in Weimar Germany.

    Now consider that the American left is even weaker than the German left in the 1920s and 30s.