Sounds like you're reading from a college textbook. I thought that way until I had a few years under my belt.
In a truly capitalist economy, businesses make money by the fruits of the employee labors. Laborers are paid in a manner consistent with their skills and contributi
ons - and often the success of the company. But in ours, employees get threatened with replacemen
t by foreigners (H1B1s or otherwise remotely located people) - not because the foreigners can generate better revenues, but because upper management can reap higher bonuses due to bottom line improvemen
t.
In the economy we have today, it is rationaliz
ed as 'pay commensura
te with managing in today's troubled markets.' But reality is that, under true capitalism
, the market is CONSTANTLY troubled - competitio
n is ALWAYS coming at you. So this excuse is a false.
The fact that corporatio
ns have been making record profits and hoarding record amounts of cash while the top 1% of workers see their incomes increase by what, 30-times (?) the current rate of inflation proves that that is the prevailing practice in corporate America. When the top have all the money, they get to impose their rules. Help freeze lending, drive wages down, and in all manners, limit competitio
n.
Read the Article at HuffingtonPost
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