05/04/2023
During the last Fed meeting, Powell said there was too “much excess demand in the labour market”.
How does the bourgeoisie seek to fix this?
1. Hire Children
2. Increase interest rates to beat back worker's demands for higher wages, likely reducing a recession.
The ruling class proclaims:
"Surplus value must be extracted at all costs! Including from the labor power of children!"
This is the logic of the capitalist system which has far outlived itself and is actively rotting on its feet. This is part of a broader trend where all advances made through the struggle of workers in the past led by socialists must be ripped away: democratic rights, child labor laws, the 8 hour work day.. everything must go.
Funds must be diverted to back the monetary policy of the Central banks and to supply tanks to Ukraine. This is the policy of the ruling class, yet the intl. working class will have it's say. Workers are entering into struggle from France to Sri Lanka, Brazil, the UK, Germany.
The IYSSE and the ICFI is fighting to mobilize this tremendous social force upon a socialist program to overthrow capitalism and do away with this outdated and rapacious system.
Read the WSWS and get involved.
The US Department of Labor cites 62 McDonald’s locations including one employing 10 year olds.