Abstract
High unemployment and falls in working class incomes are affecting billions of people around the world: they are being pauperized. Neoliberals and Keynesians consider it possible to achieve full employment by means of applying labor flexibility policies and economic growth. However, surpassing the chimera that is full employment, the rampant poverty is attributable to the principle that regulates the distribution of wealth within capitalism. The socialists of every guild have proposed the principle “to each according to his work.” Nevertheless, there is an irrefutable fact that calls this principle into question: technological development. Therefore, only a new distributive principle of wealth—one that goes beyond the capitalist market, the State and labor itself—will bring a global economy without poverty.
Highlights
The current levels of global poverty would not exist if everyone around the world who is part of the so-called Economically Active Population had a job and remunerations that would guarantee both them and their families “an existence worthy of human dignity”—as it is stated in The Universal Declaration of Human Rights
There is no place for subterfuges if we know the direction in which unemployment and income poverty in the global society are heading
According to the US Bureau of Labor Statistics, in March 2012 the unemployment rate decreased to 8.2 percent
Summary
In this somber world in which we live in, it has been proved that there is no full employment of the available labor force, and that incomes are insufficient to satisfy the material needs of even the “privileged” workers. Either because they are unemployed and they have no income at all or because they labor in exchange for miserable salaries, billions of men and women suffer the daily anguish of not being able to meet the most fundamental necessities for themselves, or for their families. Growing asymmetries, galloping poverty and the exclusion of the vast majority from social wealth are expressions of this endemic labor-economic insecurity as a consequence of unemployment and low incomes
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