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Old 10-10-2019, 06:41 AM   #7388 (permalink)
sendler
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Quote:
Originally Posted by Grant-53 View Post
The 1% meme has become a Marxist lead in many discussions. The fundamental question is in distribution not ownership. I retrained 20 years ago to run CNC machines and industrial robots. Now there is a shortage of workers here and wages are nearly double what they were 10 years ago. Don't just listen to the talking points on the news. They often get it wrong and sometimes on purpose. Investment and charitable giving has to come from retained earnings.
Perfect example of machines displacing skilled human workers. One CNC machine is now doing the work that used to be done by several machinists. Automation displaces human workers. Creating a surplus of labor. Which places downward pressure on the leverage that the remaining pool of workers has in order to demand a higher wage. Overpopulation and globalization does the same thing by shifting production to a location where people literally "will work for food". Resulting in the average world labor pool experiencing downward pressure on wages. The "owners" of the factory take an even greater share of the profits and the workers get less pay with less leverage to demand a raise.
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This is all very basic free market capitalism and should be easy to understand by anyone.
 
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