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Study and Theory/
May 1st

The Power of Equality in the Economy

Revive the Economy

Esther Alexander, 1990

For as long as there is no answer from the labor party to the claim that low wage and unemployment are “good for the economy”, until it can demonstrate, on a firm theoretical basis, the opposite, that is to say, that low wage and unemployment are bad for the economy and specifically an increase in wage and an increase in employment are those that revive the economy, until then there will be no revival. For as long as the labour party accepts the claims that an increase in wage is inflationary and also endangers places of work, the labour party has no reason to search for a separate entity on the political platform. By accepting these claims it is merging with all the rest of the political entities in the country, going so far as blurring its own identifying marks. Only if it shall be able to demonstrate that a surplus of equality in division of income, increase in wage, is that which fights against both inflation and unemployment, both of them together, only if it shall be able to demonstrate that the unique interests of the salaried employees are also the interest of the entire economy, that those two interests are identical and cannot be separated, only then shall the labour party arise from its weakness and be able to fulfil its role. Such a development is very necessary and has historical importance both in Israel and worldwide. Salaried employees are the main victims and therefore also the natural objectors to the stagnation regime of maximum profit. They are the main force that is capable of changing this harmful and dangerous regime, to release Israel and the world from this regime and to offer the economy and society alternative ways, which construct and do not dismantle them. This is the historical role of the labour parties wherever they are however as a condition for such they firstly need to be released from the monetary ideology that has adhered to them and adopt an economic theory that describes the world truthfully and as such it can serve as an ideological basis for the interests of the workers.

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