Washington’s Inflation Hysteria Is Fueled by Corporate Greed ...Middle East

I first heard about the idea of a “reserve army of the unemployed” when I was in college. Advanced by Karl Marx in chapter 25 of Capital: Volume I, the theory is that it is in the interest of capitalists to maintain a relatively high rate of unemployment. This keeps workers under control and makes them fearful to ask for higher wages or unionize, lest they be replaced by machines, the unemployed, or under-employed eager to take their jobs. “Relative surplus population,” Marx said, is the “pivot upon which the law of demand and supply of labor works.”I thought this idea was nonsensical at the time. I saw no way that an individual business could do anything to keep the unemployment rate above

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Washington’s Inflation Hysteria Is Fueled by Corporate Greed ...Middle East

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