Pope condemns sweatshops and unemployment in May Day message

[Grallon]

You really are stubborn heh Yi?  Since you require it I'll give an exemple of what the Pope meant.

I've been where I work for 7 years - during that time I've seen the pool of administrative assistant reduced by 45% - not the workload mind you.  This means the remaining bodies are expected to carry the same workload as before.  They call it rationalization - I call it extortion.  The so called managers are fully aware there's slipage and corners cut.  They don't care about the human costs for those they fire, for those that remains and become overworked and burn out  They don't give a shit so long as they target margins for the fiscal year are met.  And you know why of course - because that ensures they *personally* will get their objective bonuses.  Did I mention the organization still rakes in hundreds of million in profit every semester - *not* revenues Yi - profits.  Bankrupcy isn't on the horizon here - all there is is unadulterated greed.

That is what the Pope is talking about.



G.

[Admiral Yi]

What's the dividend yield and how many shares of this fabulously profitable company have you bought?

[The Minsky Moment]

Your interpretation of course means that the Pope's comments are an attack on profit, which is return on capital, which is deferred consumption. Which gets us back to misguided class warfare and an unintended attack on people saving for retirement.

There is a lot in here I don't agree with.  But rather than risk derail the thread I'll focus on this: the Pope is definitely attacking the notion that profit should be the sole determinant in making decisions about hiring and firing workers .  You may disagree with that proposition as a matter of good political economy.  But the Pope's position does seem to follow logically from the message of the Gospels.  We shouldn't be surprised that that the Pope goes with Jesus over Ricardo and Say.

[Admiral Yi]

There is a lot in here I don't agree with.  But rather than risk derail the thread I'll focus on this: the Pope is definitely attacking the notion that profit should be the sole determinant in making decisions about hiring and firing workers .  You may disagree with that proposition as a matter of good political economy.  But the Pope's position does seem to follow logically from the message of the Gospels.  We shouldn't be surprised that that the Pope goes with Jesus over Ricardo and Say.

And I could take exception to that part of the message, but it is the more reasonable part of the message.  The part I'm taking serious exception to is that any unemployment at all is a moral failing, and a moral failing *only* of owners of capital.

And don't even get me started on that Bangedeshi $50 wage "exploitation" nonsense.