Fed, Banking Regulations, Capital Flow, Crisis, Part 7
The 1926 recession shows the importance and value of international trade. There was a coal miners’ strike in Britain that year, followed by a general strike. Strike was so powerful and widespread that it effects were felt in U.S. United States went into recession. Bringing national economies down is not a good thing. But, sometimes there is no other option available. The strike was called to protest against wage cuts and longer hours in mining industry. Strike lasted for 9 days. Eventually it was a failure because Trade Union Congress gave up strike without achieving anything. It showed, how governments can skew the reality in the favor of their patrons.
Strike was attempted to be dubbed as aimed to destroy the government and subvert the rights and liberties of people in an editorial by Daily mail which printers refused to print. Conservative Prime Minister Stanley Baldwin said that the printer’s action was interfering with freedom of press. No one ever explained, why fighting for rights is a challenge to liberty and how does the decision by press to print or not print anything amounts to interference with freedom of press. But, when we give governments too much authority, they are bound to abuse it. When strike became eminent, government offered nine month of subsidy to coal manes.
It were successful in creating the impression that government want to support the miners’ wages. In fact, it needed time to prepare to combat with strike. Emergency powers act was passed. A recent parallel in our history is Patriot act. Organization for maintenance of supplies was created. It enrolled employees and volunteers to keep the country going during strike. All at the expense of tax payers to kill a tax payers’ mass movement. Civil rights and the right to organize, protest and strike were seriously violated. All in the name of providing security, patriotism keep country going.
The major benefits all went to the mine owners. They got subsidies from tax payers’ money before the strike and were able to hire workers at lower wages with longer hours after the strike. Nine months were enough for government to prepare for strike. So, general strike was called off in nine days. Some coal miners did not come back to work for months. Some were unemployed for years. I am a libertarian and pro-business. But I do not understand why in conservative and Libertarian circles workers right to organize is a bad thing. We are United States of America. We have chambers of commerce at every level. We have political unions called political parties. We have voters unions known Congress and councils. We have students’ unions. We have trade unions and credit unions.
Why the only workers’ unions are labeled as ‘socialist’. It is true that the leadership of most of these unions is in the hands socialism leaning people. But, we have created that gap for them to fill in. If we recognize everyone’s constitutional right to organize and protest then there will be no leadership gap workers unions and their leadership could be pro-business too.
It is a fact that business management is not always right. Sometimes labor has no way to be heard except through an organized platform. Opposition to an organized labor platform just causes an exploitation of labor in many cases. It is true that market forces should determine the wages and benefits. But businesses have lobbies and chambers of commerce. They tilt the balance of power in the favor of an already rich, powerful and influential class. Labor also has a right to balance this power through organization and lobbying. This is not possible without labor unions.
There is no doubt that like any other force in action, labor unions cause many problems and issues. But, so do the other organizations. Not a single organized institution is exempt from these kind of weaknesses including governments, Chambers of Commerce, Student Unions, political parties and union of states. Which of these has not abused the power and authority of union. Still we do not try to abolish any of these. We try to fix our institutions. Labor unions should not be treated different, too. Instead of trying to abolish those, we should try to fix our labor unions. As long as there is conflict of interests between business owners and management, and labor, there will be a need and desire for labor unions.
Fighting against the existence of labor unions doesn’t get us anywhere. It just make us look like pro rich and the ones who do not care about lower and middle class workers. As a matter of fact we care very much about every single individual. We are the flag bearers of individual freedom, liberty and rights. We must support the rights of every individual and every group of individuals in every capacity. We believe in balance of power and it cannot be factually maintained without recognizing everyone’s right to organize.
Big corporations and businesses have earned too much power and influence in our society. Their lobbies are literally dictation every piece of legislation at every level of government. They own big media which keeps public opinion in the favor of corporate owned political parties and governments. One potentially a very effective way of combating this menace is by having strong labor unions with strong lobbies which can balance the power at the level of legislation and media power.
A prosperous, happy and enlightened labor force is key to our economy. Their spending power keeps our economy running. Their satisfaction raises productivity. Their votes elect people who decide to which direction our country should go. Why we had been throwing all this potentially great support in to the hands of liberals. All liberals care about is government controls and power. We are the ones who care about individuals. Why shouldn’t we be their heroes? Why can’t we get their support? Let’s have new start. We want to protect the rights and power of every possible group in America. We want a new balance of power, the true balance of power.