I Can See Why People Are Pissed But . . .

Ha Joon Chang, in his book 23 Things They Don't Tell You About Capitalism, explains how in a quest to curb inflation, the free market package known neo-liberal policy, emphasizes greater capital mobility (rich people can move large amounts of money quickly so they can make a killing on arbitrage and investment without penalty) and greater labor market flexibility (the ability to outsource, avoid unions and labor regulations, and essentially make jobs insecure) and these policies are wonderful for those who hold large liquid financial assets and like to move them quickly to avoid having them degraded by inflation and this also allows for large companies to be restructured quickly, but it doesn't help if you own a house or don't have loads of liquid assets or a large business, and the threat of some inflation essentially pales in comparison to job losses and foreclosures and economic instability, especially when people are stuck in houses they can't sell, so they can't take advantage of the greater flexibility companies have in moving jobs (my cousin who works at Pfizer says this is the "new normal," you can be laid off at any time) and because of this instability in the job market, people are pissed at teachers, cops, and firemen because we have a union and collectively bargain for our salaries and benefits (although legislation in New Jersey is trying to abrogate these rights) . . . essentially we have old time jobs that are stable . . . the kind of jobs most people in America don't have any longer . . . but instead of being pissed at us, why not be pissed at the neo-liberal policies that made this happen?

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