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This economic “development” strategy’s chief contradiction is it pushes labor to “vote” with their feet, as the late Albert O. Hirschman argued in his 1970 classic work on this subject. Both, Orban and Walker boast low-unemployment rates. Yet, their wage-suppression policies have both led to workers leave. Hungary’s emigration problem is well known, but few know that Wisconsin under Walker is in the top 10 states in the US that people exit. Working-age emigration both holds down unemployment rates, but eventually puts upward pressure on wages. What to do? If you are Viktor Orban, pass the “Slave Law” ensuring business has more labor hours at lower compensation, even though in the long run it pushes even more workers to move. If you are Scott Walker, bust unions (with anti-union “Right to Work” legislation) and legislate limitations on compensation increases to public workers (“Act 10,” the signature legislation suppressing public worker pay). After that, launch ad campaigns trying to attract young workers back from neighboring states your policies pushed out.
https://www.counterpunch.org/2018/12/21/viktor-orban-and-scott-walker-reconsider-it/ _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: https://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
