Monday, September 5, 2011

Happy Capital Day

Washington Post reporter E. J. Dionne, writing for The Moderate Voice, argues that we should just go ahead and change the name of Labor Day to Capital Day.

Imagine a Republican saying this: “Labor is prior to and independent of capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.”

These heretical thoughts would inspire horror among our friends at Fox News or in the tea party. They’d likely label them as Marxist, socialist or Big Labor propaganda. Too bad for Abraham Lincoln, our first Republican president, who offered those words in his annual message to Congress in 1861.

...In scores of different ways, we paint investors as the heroes and workers as the sideshow. We tax the fruits of labor more vigorously than we tax the gains from capital — resistance to continuing the payroll tax cut is a case in point — and we hide workers away while lavishing attention on those who make their livings by moving money around.

Consider that what the media call economics reporting is largely finance reporting... Workers are regarded as factors of production. At best, they’re consumers; at worst, they’re “labor costs” cutting into profits and the sacred stock price...

With the worker disappearing from our media and our consciousness, isn’t it only a matter of time before Labor Day falls off the calendar? As long as it’s there, it should shame us about our cool indifference to the heroism of those who go to work every day.

Read the full article via the link above.