Some people call this exploitation. Wikipedia defines this with two distinct meanings.
- The act of utilizing something for any purpose. In this case, exploit is a synonym for use.
- The act of utilizing something in an unjust or cruel manner.
- taking something off a person or group that rightfully belongs to them
- short-changing people in trade
- directly or indirectly forcing somebody to work
- using somebody against his will, or without his consent or knowledge
- imposing an arbitrary differential treatment of people to the advantage of some and the disadvantage of others
This is the backdrop that most Americans today define their lives. Are they getting enough pay for the job they do? Do they get respect and gratitude for their work, or are they just an expendable company asset with a number?
Beyond this, most do not think about the bigger picture of this leverage, about Marxist theory (primarily concerned with the exploitation of an entire segment or class of society by another), or Neoclassical economics (organizational exploitation, whether as an employee is being abused as an asset or conversely as a free loader on the system). Is capitalism just a inherent breeding ground for exploitation?
No, generally Americans do not think about this. Besides the groups fighting for rights of workers, whether here or in third world countries, this does not come up. Is it morally right for global corporate conglomerates to have sweat shops that hire children? The corporate perspective is that they are improving the economic structure of the third world country allowing the employee to have jobs to pay for food for their families. Obviously, the employees may have a different perspective or they may be grateful for the chance at continued existence.
In America today, things are not quite so extreme, but the question still remains. Most do not like their job, their boss, their working conditions, etc., but continue to work their job out of necessity. Do they agree with the idea that America is still the "Land of Opportunity"? Not likely.
In order to numb these thoughts, they seek escape in a variety of forms. TV, movies, sports, travel, vacations, etc. because they lack the resources, skills, or desire to change things. They simply want to forget about the drudgery of their lives by indulging in entertainment. They want to live their lives vicariously through the drama and excitement of others with no risk to themselves. Did you ever think about why the entertainment and sporting industries are so large?
Americas love to immerse themselves in inane but hilarious sitcoms and movies telling themselves that they could not be so silly. They love to root for their favorite team or person in sports at any level of competition, because their livelihood are not on the line if they win or lose. There are even parents that drive their kids relentlessly to achieve the things that they never could. Subconsciously, it's saying "let someone else take the risk and time of developing excellence".
Employees rarely have the power or resources to change things. Employees by definition leave the risk and decisions to others. They offer their time and skill to others for hopefully enough compensation. Is this exploitation or continued existence?
Some attempt to change things, but usually have a number of friends and relatives that discourage them from trying saying it is too risky or doomed to failure. You know the cliche - 'misery loves company'.
Successful entrepreneurs know that failure is a big part of success. You must be willing to fail to achieve success. Success is a process that learns from failure until the right conditions are met.
This is why there are so few that succeed to the upper levels of anything. Most are comfortable in their lives of mediocrity, the norm. There is nothing wrong with this as long as it is economically sustainable.
The problem today is that the middle class of America is being eliminated. People will not go to movies and sporting events if they can't pay their rent or mortgage. Many have been using credit to enjoy these temporary indulgences, always hoping that they will be able to pay for it later. Well, the credit is drying up because the banks can't afford to give any out to people who can't pay it back. Too many financial institutions are failing or starting to become insolvent. Also, all the money printed by the Federal Reserve to keep the economy going is becoming worth less and less due to inflation.
The lesson here is that all things come to an end. The Roman empire didn't last forever. Neither has any other dynasty. American capitalism will end too. The replacement will not be pretty.
So, as to what Americans want will definitely change as conditions change. However, it will likely take drastic times before most will realize that they had chances to change or prevent disaster. Some will never realize the opportunity was within their reach. Others will blame their favorite scapegoat.
Think about it.
As always, the choice is yours.
As with all Saturdays, I will recap the key financial indicators that drive the markets. Precious metals rebounded slightly this week from more than eight month lows. Gold closed on Friday at $824.20 per ounce from $786.00 per ounce last week. Silver also closed higher at $13.41 per ounce from $12.70 per ounce last week. The price of oil closed slightly higher at $114.78 per barrel from last week before retreating after nearly hitting $122 per barrel on Thursday. The US dollar index closed slightly lower at 76.74. Oil has driven these other prices dramatically over the last several weeks. This should not come as a surprise to regular readers.
Do not exploit the poor because they are poor
and do not crush the needy in court,
for the LORD will take up their case
and will plunder those who plunder them. Proverbs 22:22-23 (NIV)
If you have questions or comments, please feel free to contact me at the address below.
Email: DeltaInspire@panama-vo.com
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