I enjoyed this diary because it had two important info age features: it was short and informative. This part was well written especially and it brings up something — a way corporations are exploiting employees at every level except, of course, the very tippy-top — I may do a full feature article on in the next month or two:
Daily Kos: Marx for Dummies — Second, and more importantly, it follows that in capitalist systems, money will gradually come to be concentrated in the hands of a few. Returning to our example of the three doughnut shops, there will always be a doughnut company willing to go further in reducing the costs of production to maximize profit. This means that gradually the competing businesses will go out of business because they cannot compete with the company that produces at the cheapest cost thereby maximizing profit, and money will come to be concentrated in the hands of that few that were more ruthless than all the others.
The diarist also notes that capitalism does not lead to the best product, that sooner or later cost reduction will affect quality and the company will be moving forward only on the social inertia of things like brand name.
What I’m thinking of writing about soon is more a particular way companies have recently begun to contain costs: the promotion without raise scam. I hope to have some concrete examples of this, but th gist of it is a company gives you a supposed promotion, meaning you have to learn new job skills and have different and likely greater responsibility, but there is no bump in pay, or the raise is a vague promise that somewhere down the road maybe there will be an unspecified pay raise. Companies do this under a lot of guises, the most common being the intern scam or the temp scam. They’re basically taking advantage of people desperate to make more money, usually but not always the hourly worker making peanuts, to get essentially free labor and expertise. Capitalism you see is only for you, when you are being screwed, when it comes to corporations, socialism by wage and government handouts are awesome!