Dan Price’s Post

Hi Dan - I've been listening to "Capital Offenses" by Samuel W. Buell. So far, it does a pretty good job explaining the intricacies of corporate crime and its inter-relation with business innovation. https://www.audible.com/pd?asin=B01KIC5RIY&source_code=ASSORAP0511160006&share_location=library_overflow

Bonuses.

Tech companies also don’t pay their supply chain partners enough either. See Congo and Cobalt mining.

$1000 per month invested with a 10% annual return will turn into 1 million dollars in 15 years. If capitalists didn't rob employees of that $1000 per month between garbage wages and jacked up rent, people would be "nope"ing out of the job market left and right. Slave masters would eat excellent food in front of their slaves and then feed crumbs to the slaves telling them "if you are a good Christian slave, you will have your reward later." Capitalists have not improved much. At least we have 401k's now so can retire at 65 and have 13 years to enjoy our wealth as the average person is dead before 78. They need desperate workers because the average capitalist is a brute no one would work for unless there was some kind of duress.

It's quite problematic. Try seeing employees/co-workers who are earning 25k-40k/yr for full time work who haven't seen pay increases in 5+ years. However, executive leadership saw it fit to take a 50k pay increase which was just under 25% of their salary in that timeframe. The board of trustees responds to complaints by supporting leadership and touting that the organization is in the best financial situation they've been in in years.

Ah, now we are back to those good posts that made me follow you in the first place!

They are still getting raises. https://www.linkedin.com/news/story/8-4m-people-will-get-raises-jan-1-6121234

It’s the US model of corporate oligarchy and their priests, the economists and their servants the accountants and lawyers. The greatest lie sold is around shareholder sovereignty and that they solely have the right to call the shots because they have put some stolen cash at risk. It is all stakeholders that have put themselves at risk, the community, for letting a corporate operate, the suppliers for giving credit, the workers for giving up their skills and more importantly their time; and the planet, for giving up its resources. And we are all sold the lie that naked capitalism and greed will ensure the most effective allocative efficiency of resources. Yes, but only from the shareholders point of view and only in the short term. All stakeholders should have a say in the control of the organisation and a share in its success. The argument that only the providers of capital are at risk is rubbish. Employees invest their time, and they only have one life, the planet invests its resources and there is only one planet, the community invests its infrastructure, and that can only be used once. All loose big time when allocative efficiency fails. Right now the model is excellent in theiving from the people and community

I remember my car insurance company sending me a letter that detailed how much $ they made in profits that year - and then sending a notice that “the times” made it so they had to increase premiums. In the same envelope, mind you.