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Quote by Ann Petry

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The Narrows

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Author

Ann Petry
Ann Petry

Ann Petry was an American author born on October 12, 1908, and passed away on April 28, 1997. Her works primarily focused on racial and social issues, with notable titles including 'The Street'. more

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“There was another reason why the dollar's hegemony grew: the intentional impoverishment of America's working class. A cynic will tell you quite accurately that large quantities of money are attracted to countries where the profit rate is higher. For Wall Street to exercise fully its magnetic powers over foreign capital, profit margins in the United States had to catch up with profit rates in Germany and Japan. A quick and dirty way to do this was to suppress American wages. Cheaper labour makes for lower costs, makes for larger margins. It is no coincidence that, to this day, American working class earnings languish below their 1974 level. It is also no coincidence that union-busting became a thing in the 1970s, culminating in Ronald Reagan's dismissal of every single unionised air traffic controller. A move emulated by Margaret Thatcher in Britain who pulverised whole industries in order to eliminate the trade unions that inhabited them. And faced with the Minotaur's sucking most of the world's capital into America, the European ruling classes reckoned that they had no alternative but to do the same. Reagan had set the pace. Thatcher had shown the way. But it was in Germany and later across continental Europe that the new class war - you might call it universal austerity - was waged most effectively.”

PovertyCapitalismClass WarfareAusterity
Book:Technofeudalism: What Killed Capitalism
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“How can I describe my life in the years leading up to this moment except in shades of gray? All the scrape and grind of it, all the empty shelves and lost ambition, all the soot grown hard on windows, season after season the only black harvest. The bad news, the debts, the visa applications, the flesh of your arm humping white between a nurse's fingers as she stuck you with a paltry twelve months' protection against whatever new strain of disease, as if bankruptcy or homelessness or a weariness at aping at the motions of life weren't more likely to kill you first.”

ChallengesPovertyIllnessDebtDifficultiesScraping By
Book:Land of Milk and Honey
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