Even if the banks lose some of their influence, other employers will still try their hardest to keep wages down. It will still be immensely important to unionise, for as long as the employer/employee relationship remains the norm.
RE: How the American economy conspires to keep wages down
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How the American economy conspires to keep wages down
Unions are passe. There is no need for labor. That is the challenge for people today.
Companies can increase capital without increasing labor. Those two fundamental issue are no longer linked.
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I don't think we're there quite yet. Maybe one day.
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In the US, wage growth is flat the last 20 years. What has not been automated out is being suppressed simply because of the threat of automation.
The West Texas oil industry learned this the hard way. When oil prices collapsed, massive layoffs. Over the two years prices were down, the companies went to work on automating. The result, by 2016, when prices started to rebound, half the workers were not hired back. Even the off shore rigs were affected with the numbers going from 25 works to 5 to man a rig.
There were a couple hundred thousand jobs, decent paying jobs, automated out.
Unions started fighting automation 35 years ago in the car industry. They lost.
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