Economic bondage or wage slavery refers to the total and immediate dependence of salary, for survival. Although people throughout history have had to work all the time to figure it out, now we live in a culture in which we are made to believe that we have economic freedom, when, in fact, without realizing it, people live in a state full of servitude.
Automatically accept the working week of 40 hours as such as something normal, even if it pays badly and barely able to survive with the money you earn. There are people who earn enough to live comfortably, but they may not shrink work programme-be working 40 hours per week, either don’t work at all. We accept compulsory outfit, time of coming and leaving, menu and sometimes we are even imposed at what time we can use the bathroom. How did we get to this stage?
The work week of 40 hours appeared during the industrial revolution in England when, at one point, workers were put to work between 10 and 12 hours and started to protest. Working conditions began to worsen and for Americans, and in 1836, workers ‘ movements and publications demanded they work week of 40 hours. The workers were so overwhelmed by so much that they work eight hours a day seemed few.
This system is, however, unnecessary nowadays, although still, we accept due to the effects of the company’s capitalization in many parts of the world. There are many factors that have led to the development of the present economic system and have made the 40-hour workweek to be continued to be accepted, but three of them are leading: consumerism, inflation, and debt. First of all, it is important to understand what is inflation and how it leads to debt.
In simple terms, let’s imagine that the government needs money for a military project they want to fund during the year. It will ask for a loan from the National Treasury, and that treasury agrees to buy bonds from the government to cover the necessary amount of money to the government. The Government print more paper called ‘ Bonds ‘, and the Treasury prints little papers that we call- money and print it! An exchange is made between the government and the National Treasury bonds and the government against money-deposited, money new print in another bank who will take, in turn, its share of the fees and interest rates. And here is how the money came out of nowhere.
Even if presently this process is carried out electronically (only 3% of the money exists in physical form, the remaining 97% just in the computer), the problem is, however, also lowers the value of the national currency. Earlier, the currency was valued in gold. Gold has given the monetary value, but now the value of money is given by the National Treasury, which has no moral objection to reduce its value and simply print more. (i.e. a fake, in fact). For the cost of printing, National Treasury creates money which the Government has promised it will return the money that was original.
The same thing happens with private banks and loans towards citizens. Whenever such a transaction occurs, reduce the value of the current currency, inflation occurs. How does this lead to economic slavery? Through roughly flow that you create.
Because the money is created through a loan, means that are created through debt. Money means duty, while debt is money. So, how much are the most money, so there are a greater duty and vice versa. This means that if the Government and every citizen would be able to pay the loan payable, there would be no money in circulation.
The interest rate plays an important role in this equation. When you make a loan and the bank gives you some money, in fact, money that doesn’t even exist, they expect you to pay an interest for them. If you borrowed money from the National Treasury, where the money comes for interest?
The answer is that out of nowhere. I mean, no matter what will happen, the nation won’t succeed never get rid of debt and this is exactly the goal of the system orchestrated so meticulously. Always, somewhere, someone is going to go bankrupt in order to compensate for interest with an even bigger debt. And so, as the nation further deepens in a precipice, and the cost of living in the economy grows, survival is becoming increasingly difficult. This desperation to survive, plus the fact that we were born into this system, it’s what makes us, finally, to accept the working week of 40 hours without thinking twice, any second.
It is easy to understand the component that forces us to accept the chore, but how both banks and major firms benefit from 40 hours a week? In home use, studies show that, on average, an employee who does office work succeeds in one day of work 8 hours to solve less than 3 hours of work, and, according to reports, the profits of big corporations grow while wages fall.
Bureau of Labor Statistics in the U.S. shows that in the West the productivity increased by an annual rate of 2.3 percent in the third quarter, while the payout per hour grew by just 1.3 percent in the third quarter and the pattern was maintained constant — at one point the sums add up. Corporate profits are at a level higher than ever in the past 85 years, then why don’t we pay more, why not work a little more and why not offer more job opportunities to those in need? And we get to consumerism.
The belief is that consumerism is okay for people to spend money on goods and services. At some point, this belief may have been true, but in the current capitalist system and the cost of life, consumerism has started to have a negative impact on society, especially when you take into account inflation and debt. The more you buy, the more both corporations and banks that raiment, in turn, pushing us deeper into economic slavery.
From the industrial revolution from 1800 ‘ consumers ‘ have spent large sums of money increasingly on the frivolous acquisition. This extravaganza was fed and fueled by corporations using commercialism as a tool (attitude or actions of people influenced by the desire to spend money or to buy goods, more than other values).
The psychological insinuation was implanted into the subconscious of society-over several generations through advertisements that led, ultimately, to establish habits and beliefs.
A 40-hour workweek is the best tool that corporations maintain this culture of waste. In the present work, people are forced to organize their lives around evenings and holidays. We are more willing to spend more on fun and service due to lack of time. When we have time for ourselves, it is so little, that often neglect those activities which are, in fact, free-walking, reading, and meditation, hobbies, etc-because they occupy too much time.
If for some additional revenue means sacrificing personal time, for others it means, besides the lack of free time, struggling to cope with everyday life. Consumer ‘ ideal ‘ is one who works full-time, earn enough, spends time and somehow manages to live from month to month. But even those who don’t earn too much spending large amounts of money on useless things wrong reasons-an expensive coffee at a local known, lunch or dinner at a restaurant of renown, or a sophisticated decoration for the car.
Look at it from every angle, you realize that I have become an unfortunate society, who do not think enough and too much work. Buy items for a few silly moments of happiness, who get bored quickly and look for others. We feel we need to do we supply obsessions or to fulfill childhood dreams about what we imagine that life should be adult. We hide the uncertainty, avoid problems and replace psychological needs with material objects. The company has less free time, so people will spend more on services, rewards and other pleasures.
A healthy society is extremely profitable for big business and so far, their efforts have yielded. Our company has evolved into an industry fueled by economic slavery, and consumerism is a key factor of this corrupt system one over which people have a direct influence.
Consumers are the only ones who can stop this cycle.