Wages and democracy
To the Editor:
There is a consensus in some circles of the U.S. that business and corporations are people enough to donate money to political campaigns but that labor is not.
It puts America at odds with itself. It isn’t surprising. We live in an era where the laws of supply and demand are warped, and we care less about individual profit than corporate profit.
They are, however, one in the same. We are fighting to lower the paychecks of the individual in order to raise the paychecks of the corporation. What we are doing is lowering the buying power of people and demand is falling because of it. The invisible hand dictates that when demand falls, prices should fall with it. This is not happening. Prices are rising.
The reason is labor. When you lower the cost of labor by exporting jobs or keeping the minimum wage low, you turn the law of supply and demand from commodity to labor.
Businesses can raise prices, sell less, and make a profit because they cut the cost of labor.
They can easily make profit by selling more if they raise wages. The problem with that is higher wages gives more economic power to the people. It’s not a game of wages they are playing. They have turned the law of supply and demand from commodity to labor in order to limit the voice of the people.
Let’s be honest. When we fight for wages, we are fighting for democracy.