I've been wanting to make a few comments on the economy for a while. It's been on my topic list . I just hadn't sorted things out in my head as to what I wanted to say.
This morning I was listening to a radio interview about people working more than one job. Historically we can look back.
At one time there was only one wage earner per household and he/she usually worked at one job.
Today we have two wage earners in a family and in some cases both of them are working two jobs.
The economy has a number of tricks that keep people on a tread mill. A treadmill that keeps them purchasing more product. Build in obsolescence as in appliances that don't run very long. Same situation with cars. And while we're at it sell insurance on the poor appliance so they get to sell insurance as well as a product.
The way the economy is set up now it has to grow. So more product has to be made and sold. It's a vicious circle. Get more workers to work in factories to make things. More workers means more customers.
So people are caught with a huge amount of product to buy and they do buy too much. Customers must pay for the goods. You can use a credit card but that soon gets you into more trouble. So this morning they were talking about proceedings to help the poor folks who've come to the end of the rope with their money.
Families working more than two jobs started appearing before I retired from teaching. They wanted to do the right thing but didn't have time or money. They wanted to support their kids but didn't have time. It was sad.
The last few years prices have been rising very noticeably. Wages have not risen noticeably . So the economy goes into recession because it's not growing. The government pours money into the pot so people start buying things.
I realize this is oversimplified. I'm not an economist. I took a political economy class in 1958. That doesn't do me much good.
I am upset with the path the economy is on in the last few years. How long will many people have to work two or more jobs?
Thank goodness neither my husband nor I had to work two jobs. I feel awful for people who have to do this to just get by. Built-in obsolescence is horrible. There was a time refrigerators lasted for decades. Now the average life is 12 years if you're lucky. It makes for a lot of waste too. And yes, it is an terrible cycle. We've got the same problem here in the U.S., of course.
ReplyDeleteI think we're all in this together. The same poor quality refrigeraters are sold across the world.
DeleteHello,
ReplyDeleteMy hubby and I were lucky to get along on our two salaries. I can imagine having to work two-three jobs just to pay the bills. Take care, have a great weekend.
In teaching , I had families who worked two jobs. It was stressful for them.
DeleteWe were one of those few one-income families. We missed some of the treats, but we've had good lives, I think.
ReplyDeleteInteresting post.
ReplyDeleteTwo or more jobs is here to stay. Folks will always take that option as needed. When I worked two jobs, it was nice to have that budget relief. But, it didn't get me anywhere. Elderly, on a very limited budget, thinking back what could I have done differently always ends up to saving more, buying less.
People think that the second job will get them ahead.
DeleteYour treadmill analogy seems just right. It can also seem like a merry-go-round at a fair. Just going round and round in circles. Connected with all of this, I think of investors playing with the economy like gamblers in a casino. They don't do the work, they just look out for opportunities to double their money.
ReplyDeleteThe big money controls things. It's unbelievable the money that sloshes around in the Tech industry.
DeleteWell, back in the day when one farmed, it was a family business! So technically both worked!
ReplyDeleteI think this is more the system of capitalism, rather then the economy. Big profits, CEOs earning millions of dollars, as well as sports stars. Wage disparities are awful.
You name some of the big movers and shakers who like to play with money.
DeleteIt seems like it is that way everywhere.
ReplyDeleteWhen I had 4 kids and went out to work because husband complained that I wasn't contributing (yeah, right 😄) that was 1994.
Most mothers then in our village stayed at home and worked hard there instead of getting paid work outside..but that didn't last long and within a year or two most were employed.
Every year since then people have been squeezed harder.
Good term "squeezed harder." That's exactly what is happening. Rent and housing prices go up. Grocery costs go up. we are certainly squeezed.
DeleteThanks for sharing your perspective
ReplyDeleteI would hope that the extra job thing can be eliminated.
DeleteI would love to be wrong but I have a feeling that, in the UK anyway, the divide between the 'Haves' and the 'Have Nots' is getting to the stage of being irretrievable without something drastic happening.
ReplyDeleteWe seem to ride the bus right into the crash.
DeleteMom stopped working when my parents married. There were times when we could have used a second income but mom working was out of the question.
ReplyDeleteI was able to keep from working two jobs, and we have now been retired for a decade and a half. Our annuities and social security have been enough for a modest lifestyle.
ReplyDeleteYou were probably a very wise budgeter.
DeleteMost people are hamsters on the wheel working pay check to paycheck.
ReplyDeletePay check to ay check is a good term to describe the situation.
DeleteI see 12 comments before submitting mine. Some interesting answers to your question. Looks to me like Salty Pumpkin Studio got it right on the money.
ReplyDeleteIt's sad that she's looking back at what she lost.
DeleteThat is true. However, I’ve got to commend her for giving us her perspective which, if taken to heart by those younger than us, may truly be a way to improve their own personal economy. Lucky are those who follow Hiawatha House. 😊
DeleteIn my state the minimum wage is $7.35 an hour.
ReplyDelete*sigh* hit publish before I meant to. Rent is minimally $800 a month. Even with both parents working, you won't make ends meet, let alone get ahead.
ReplyDeleteI don't know enough about these things to offer anything profound, but it's been a learning experience reading your post and everyone's comments.
ReplyDeleteHere, no one can make it on one salary and raising a family. And yet anyone struggling is looked down my most people as 'not trying hard enough'. Yet the same people who begrudge raising the minimum wage (in my state is is $7.35 an hour. For a comparison, the average rent is $800 a month, PLUS utilities. Do the math on that, and you will see just how impossible this wage is.) But the same people who vehemently oppose raising the minimum wage are the same people who decry the fact that mothers don't stay home with their children, and complain about the problems caused my children who have never experienced 'nurturing' because their parents are struggling to keep a roof over their heads.
ReplyDeleteThe biggest, craziest part of all of this is that taxpayers make up the difference in their wages. We pay for subsidized rent. Subsidized health care. Subsidized child care. The list goes on and on. All of the problems would lessen if we got behind a minimum wage increase.
But no. We stand around criticizing the poor for being lazy.
A change in the delivery of education contributed to a change in the workforce. When the boundaries for schools were expanded and when schools were not being provided in neighborhoods, the majority of,if not all, students remained in school for the entire school day. This provided a stay at home parent the opportunity to seek employment outside the home.
ReplyDeleteThis is thought provoking post dear Red
ReplyDeleteNo doubt world is completely in the hands of capitalism and people are supporting the cage that has trapped them blindly sadly.
Life has few basic necessities to survive, rest is only the disease of our sick minds that make us unable to live but suffer .
Hubby did two jobs for some years because he wanted to build separate house. He left when job was done.he always support me in my job venture but I know he want me to stay at home to avoid turning home into house