A recent release by the U.S. Treasury Department admits that the U.S. labor market is far from competitive which is leading to negative results for workers. Specifically, the report argues that a lack of competition in the labor market has led to a 20% decline in the wages of workers, relative to what they would otherwise earn.
The practices that are leading to these dismal results for workers, according to the report, are the decline in unionization, classifying workers as independent contractors instead of employees, and the use of noncompete agreements.
The report recommends “increasing antitrust enforcement in labor markets, raising the minimum wage, and making it easier for workers to organize” to increase competition in the labor market and bring more favorable results.
However, it is ridiculous to conceptualize the decline of wages for workers as simply a decline in labor market competition divorced from the class struggle. The capitalists maximize their profits by increasing the difference between revenues and costs, of which labor is a constituent part. Through their class dictatorship, the oligarchs extract massive profits at the expense of the workers and attempt to crush any attempts at resistance, including the implementations suggested in this report. It is imperative that workers study and implement the teachings of Marxism-Leninism if there is to be any hope of ending the capitalist exploitation of man by man.
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