Samiul Bashar Samin

Economic slavery, or wage slavery, refers to one’s total and immediate dependence on wages to survive. Although people throughout history have had to work to get by, we now live in a culture where we are led to believe we have economic freedom, when unbeknownst to most citizens, we are in fact bound in servitude. We automatically accept a 40-hour workweek with meager hourly pay as normal, even though many work overtime and still struggle to survive. There are also those who make enough to live comfortably but are unable to request less hours—you either work 40 hours a week, or you don’t get to work at all. We submit when told what to wear, when we have to arrive and depart, when we’re allowed to eat, and even when we’re allowed to use the restroom. How is it we have come to allow this?
The 40-hour-work week came about during the Industrial Revolution in Britain when at one point workers were putting in 10 to 16 hour days and began to protest. Working situations for Americans began to worsen as well. Citizens in both situations were so overworked, an eight-hour day was easily accepted. This system is unnecessary now, if it ever was, but we still accept it due to the effects of our capitalist society.
Since money is created through loans, that means it’s created through debt. Money equals debt, and debt equals money. So the more money there is, the more debt there is, and vice versa. What this means is, if somehow the government and every citizen in debt were able to pay back those loans, there would not be a single dollar in circulation.
Interest plays an important role in this equation as well. When you take out a loan and the bank gives you money that technically doesn’t exist, they also expect you to pay additional interest with it. If the money loaned is coming from the Federal Reserve, where is the money for the interest supposed to come from?
The answer is nowhere.
That means no matter what, the nation will never be able to get out of debt, and that is exactly the purpose of this meticulously orchestrated system. Like a toss of the coin, somebody somewhere will always go bankrupt to make up for the interest that is being paid with even more debt. And so, as the nation sinks further in the hole while the cost of living increases, surviving in the economy becomes more difficult. This desperation to survive, coupled with the fact that we were born into this system, is ultimately what causes us to accept the 40-hour workweek without a moment’s thought.
So now we understand the element that forces us to accept our predicament, but how does the 40-hour workweek benefit banks and corporations? After all, studies show that the average office worker gets less than three hours worth of work done in an 8-hour work shift, and according to reports, US corporate profits are soaring while wages are declining.. Corporate profits are at their highest level in at least 85 years, so why aren’t we being paid more, working less, and providing additional jobs to those who need them?
This brings us to consumerism.
Consumerism is defined as the belief that it is good for people to spend a lot of money on goods and services.
At one point in time this belief may have rang true, but with the current capitalist system and cost of living, consumerism has begun to have negative effects on our society, especially when you take inflation and the increasing debt into consideration. The more we buy, the more we feed the corporations and banks who are in turn pushing us into economic slavery.
Any way you look at it, we have become an unhappy, mindless, over-worked society. We buy silly items for a few moments of happiness before getting bored and moving on. We feel a need to keep up with fads, or to fulfill our childhood vision of what adulthood would be like. We hide our insecurities, avoid issues, and replace psychological needs with material items. By keeping society’s free time scarce, people will pay more for convenience, gratification, and any other relief they can buy.