Thankfully the UK didn't follow France into the anarchy that was the French Revolution, and Earl Grey could make them see reason. But damn did we come close.
The threat of violence that the worker wielded against their employer was indeed a good incentive to keep things amicable.
Nowadays, we don't know where the Lords necessarily live, the size of the Lords private armies don't need to be more than a handful of security guards, and AI/Robotics is diminishing the need for that handful of guards at all.
I don't know why, median house prices are even factor at all in what you think you wage you a wage you accept would be. If you can't afford a house, that means you have to lower your case. There are lots of people who live in less than median houses. That's part of the way averages and statistics work. If you don't like the median house prices, you may have to look at what's going on in your city that the house prices are so high. There are certainly issues in Silicon Valley that need to be addressed, but they are not issues of wages. They are other issues that they need to address. You are always welcome to live in a house that is lower than the median wage and that may be what is needed in order to afford something.
In the United Kingdom, a third of people claiming government assistance are in employment. Over 50% of those buying their first home get gifted money from their parents to do so. Starting from nothing means playing a rigged game. It's like playing Monopoly, where one player starts out with half of the cards and everyone else thinks they can win if they strategise well enough.
Many core economic theories that are taught about productivity and pay are wrong. Anyone living in the real world can see that marginal productivity and price theory are wrong. If the game was perfectly fair, these theories may have some weight, however there's a multitude of factors that skew the board. Poor compensation does have consequences, and they may be felt by individual businesses. However, by and large, these consequences are offloaded on to the rest of society.
Think he’s wrong about this being close to blowing up. Think that’s coloured by his own personal situation. I suspect unfortunately the powers that be correctly read the situation as significantly more room to squeeze.
It might read as bad to usa ears but keep in mind there are people breaking down ships with zero safety, zero job security, low pay, bad equipment and certain heath impact etc. People will bear crazy stuff and still show up to work
When the incentives of workers favours burning buildings rather than working for wages, the next step is either to use force/control or to rebalance wages.
Signed, Anyone who you'd like to care
Today is international workers day and we are sharing a capuccino with my colleague.