{"id":271,"date":"2022-06-21T19:18:25","date_gmt":"2022-06-22T00:18:25","guid":{"rendered":"http:\/\/pixelschester.net\/?p=271"},"modified":"2022-06-21T19:20:11","modified_gmt":"2022-06-22T00:20:11","slug":"capitalism-is-screwing-most-of-us","status":"publish","type":"post","link":"https:\/\/pixelschester.net\/?p=271","title":{"rendered":"Capitalism is screwing most of us"},"content":{"rendered":"\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u2026productivity is a core tenet of a capitalist system that has spurred economic growth in the form of more jobs, consumer choice, and innovation. It&#8217;s designed to reward hard work, with paychecks going to those who provide value and profits to leaders who run the most efficient businesses.<\/p><cite>Hillary Hoffower<\/cite><\/blockquote>\n\n\n\n<p>The federal minimum wage, $7.25 per hour since 2009 &#8211; the longest period of history without an increase since the minimum wage was established in 1938 under the Fair Labor Standards Act &#8211; kept pace with productivity growth from when it was created until 1968. While 62% of Americans support an increase to $15 per hour, even with a raise to $15 per hour, a typical family of four couldn\u2019t afford the basics in any U.S. state.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>It makes sense on a very basic level to tie the federal minimum wage to worker productivity \u2014 after all, workers should be reimbursed for the value they create for a company, and productivity is a direct measurement of a company&#8217;s output in relation to input. But worker productivity has grown three and a half times more than worker pay since 1979 \u2014 with productivity up by nearly 60% and median pay up by less than 16%.<\/p><cite>Paul Constant<\/cite><\/blockquote>\n\n\n\n<p>Per economist Dean Baker, the productivity-adjusted minimum wage would be $23 in 2021.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u2026families would not only be able to afford to live in the communities where they work, they&#8217;d also have money to spend \u2014 on meals, on clothes and housewares, on their children, on educational and small business opportunities for themselves. That increased demand would be a boon for local businesses, which would have to hire more workers to deal with the influx of customers.<\/p><cite>Paul Constant<\/cite><\/blockquote>\n\n\n\n<p>P.S., if the minimum wage increased at the same pace as CEO pay, the current minimum would be north of $125 per hour.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2026productivity is a core tenet of a capitalist system that has spurred economic growth in the form of more jobs, consumer choice, and innovation. It&#8217;s designed to reward hard work, with paychecks going to those who provide value and profits to leaders who run the most efficient businesses. Hillary Hoffower The federal minimum wage, $7.25 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-271","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/pixelschester.net\/index.php?rest_route=\/wp\/v2\/posts\/271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pixelschester.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pixelschester.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pixelschester.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pixelschester.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=271"}],"version-history":[{"count":0,"href":"https:\/\/pixelschester.net\/index.php?rest_route=\/wp\/v2\/posts\/271\/revisions"}],"wp:attachment":[{"href":"https:\/\/pixelschester.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pixelschester.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pixelschester.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}