作者：易铂清 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
Ironically, after the end of the Cold War, market capitalism has emerged as the most fervent force for revolutionary change. Finance capitalism became inherently democratic once the bulk of capital began to come from the pension assets of workers, despite widening income and wealth disparity. The monetary value of US pension funds is more than $15 trillion, the bulk of which belongs to average workers. A new form of social capitalism emerged that would gladly eliminate the worker's job in order to give him or her a higher return on his or her pension account. The capitalist in the individual is exploiting the worker in the same individual. A conflict of interest arises between a worker's savings and his or her earnings. As Pogo used to say: "The enemy: they are us." This social capitalism, by favoring return on capital over compensation for labor, produces overinvestment, resulting in overcapacity. But the problem of overcapacity can only be solved by high-income consumers. Unemployment and underemployment in an economy of overcapacity decrease demand, leading to financial collapse. The world economy needs low wages the way the cattle business needs foot-and-mouth disease.
I wonder the sentence highlighted. How a higher return on pension can eliminate worker's job in the name of social capitalism?
Thank you!
Here is where it comes from: https://www.atimes.com/atimes/Global_Economy/GF16Dj01.html
作者：易铂清 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
