An aggrieved billionaire this week lamented that workers had grown lazy and "arrogant" during the coronavirus pandemic and that many of them needed to be made unemployed for the situation to improve.The Australian Financial Review reports that Tim Gurner, the founder and CEO of the Gurner Group, exp...
This is where you realize that capitalists don’t care about improving society, they just care about maximizing profit.
Full employment means full utilization of the productive forces of say society, but it also means there is a high demand for workers and a low supply thus the price of labour increases which is bad for business.
When an industry reaches a certain stage of development, capitalists make agreements with each other (economic cartels) effectively turning into monopolies and begin the cycle of destroying productive forces to increase profits. They reduce labour cost by doing massive layoffs, inflate the price of goods by decreasing production, etc… A very clear example of this is the oil cartel (OPEC), but it happens silently in every single sector.