PART 4
Toward living wages in the modern era
The idea of a global labor cartel is based on the needs of a modern economy for managing consumer demand to overcome structural overcapacity, which globalization has made a worldwide problem. The rules of economic democracy mandate that capital in a modern economy is formed from the savings of labor, which in turn depends on rising wages. (Mar 8, '06)

PART 3
Failed theories on the value of labor
Classical economists were aware of the existence of widespread systemic unemployment, which was later called structural unemployment by monetarists, and that markets could and regularly did fail if unregulated. But it was not - and still is not - economists who paid the price for their incomplete analysis, but the jobless. (Mar 7, '06)

PART 2
Rising wages to right historic wrongs
In the 18th century, the steam engine and other labor-saving devices triggered the Industrial Revolution, and the face of economics changed forever. Yet workers in many cases were even worse off than they had been in bygone eras, a situation perpetuated by economic theorists who consistently failed to value labor in the same way as other goods. (Mar 6, '06)

PART 1
The need for a labor cartel
There are many examples debunking free-market propaganda that wages and prices must simply be a consequence of supply and demand. Cartels such as OPEC not only set their own rules, they have wide-ranging effects on the economy at large. A similar world cartel for labor would halt the globalization-inspired race to the bottom for wages, which if unchecked will ruin not only lives but the world economy. (Feb 24, '06)