Saturday, May 23, 2015

Money is owned by society not corporations

What gets lost in the debate of how much money an hour of labour is set at is the fact that corporations don't own money. 

Corporations might possess a lot of a nation's money. They might be rich in money in their accounts.  But they don't own money in general.  The nation owns its money, and by extension the people of a free democratic nation own ALL the money. Money is a possession.

Money like labour is free to move around but it's still the people's property.

So if a nation wants to peg an hour of labour to a dollar value: a minimum wage, then that is the right of the citizens. Not the corporations.

If business leaves or stays based on the new economics that's entirely up to the business. Corporations want to scare people that they can't control their own money but that's an illusion. A self-interested illusion.