You are viewing a single comment's thread from:

RE: Low Socioeconomic Status Linked to Premature Mortality

in #economics7 years ago (edited)

High mortality is normally concentrated in deprived areas in several countries. The actual economy in the post-scarcity era shows the attack of liberalism on welfare to generate low wages and increasing poverty.
I'm going to put here a part of a Speech about poverty written by Mumia Abu-Jamal , a very sharp economist in jail for 25 years.
"Back in 1958, an economist noted that when unemployment rises, wages fall (this is known as the "Phillips Curve"). This is so because when most workers are employed, business is pressed to react to wage demands.

However, when there is significant unemployment, business knows they can find labor at lower wages. Thus, unemployment drives down wages for all workers, as it increases job security. What does this have to do with welfare?
Well, welfare is a form of income maintenance, and as such, it served as a buffer between the employed and the unemployed.

Therefore, workers were not desperate for any job that they could find. When workers are not desperate, when they have security, they demand higher wages form capital. Who would've thought that the poorest among us, those on welfare, strengthened and stabilized the wages of workers?
It's for this reason that capital launched it's attack on income maintenance programs through its political agents (republicans and democrats), using the slight-of-hand label of "welfare reform." "

Coin Marketplace

STEEM 0.17
TRX 0.12
JST 0.027
BTC 62033.06
ETH 3004.78
USDT 1.00
SBD 2.48