g5000
Diamond Member
- Nov 26, 2011
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I'm going to have to break this subject up into several posts. Please bear with me.
Labor is always getting the short end of the stick, and has been for centuries. You got your serfs and slave labor and various other proles.
In the Middle Ages after the bubonic plague wiped out close to half the population of Europe, labor had the upper hand for perhaps the only time in history.
The nobles wanted someone to farm their food, someone to make their shoes, someone to weave their clothes, and so forth.
The surviving commoners, being in short supply, were able to demand higher wages.
The nobles were having none of it, though. In England, they passed a maximum wage law, and passed a law prohibiting the ability of workers to move around.
And then you had the guilds screwing them from the other end.
A guild was a kind of union. You had your blacksmithing guild, your shoemaking guild, you weaving guild, and so forth.
You could not make shoes without being a member of a guild, and the guilds kept their membership limited so as to keep their asking wages high.
Today, we have a similar strategy being used by various industries to prevent newcomers from performing certain jobs.
For instance, cabbies. In New York, you can't operate a taxi without a medallion, and medallions are limited.
Before Uber came along, taxi medallions were going for more than a million dollars. No wonder a cab ride was so expensive.
Michael Cohen invested in medallions and was worth many millions.
And then Uber came along. This caused a huge fight by cabbies to keep Uber out of town, but they lost and we are all better for it.
Now a taxi medallion is worth about $100,000.
Another way modern day guilds keep newbies out of their sector is by bribing legislators to write regulations which make it very difficult for someone to break into their business.
Here's an interesting story about a guild in Canada called the Beauty Council which fell apart after deregulation: Licensing and Regulation of Hairdressers
Labor is always getting the short end of the stick, and has been for centuries. You got your serfs and slave labor and various other proles.
In the Middle Ages after the bubonic plague wiped out close to half the population of Europe, labor had the upper hand for perhaps the only time in history.
The nobles wanted someone to farm their food, someone to make their shoes, someone to weave their clothes, and so forth.
The surviving commoners, being in short supply, were able to demand higher wages.
The nobles were having none of it, though. In England, they passed a maximum wage law, and passed a law prohibiting the ability of workers to move around.
And then you had the guilds screwing them from the other end.
A guild was a kind of union. You had your blacksmithing guild, your shoemaking guild, you weaving guild, and so forth.
You could not make shoes without being a member of a guild, and the guilds kept their membership limited so as to keep their asking wages high.
Today, we have a similar strategy being used by various industries to prevent newcomers from performing certain jobs.
For instance, cabbies. In New York, you can't operate a taxi without a medallion, and medallions are limited.
Before Uber came along, taxi medallions were going for more than a million dollars. No wonder a cab ride was so expensive.
Michael Cohen invested in medallions and was worth many millions.
And then Uber came along. This caused a huge fight by cabbies to keep Uber out of town, but they lost and we are all better for it.
Now a taxi medallion is worth about $100,000.
Another way modern day guilds keep newbies out of their sector is by bribing legislators to write regulations which make it very difficult for someone to break into their business.
Here's an interesting story about a guild in Canada called the Beauty Council which fell apart after deregulation: Licensing and Regulation of Hairdressers