Can Cryptocurrency Empower Workers as Unions Did?
Bitcoin Magazine honors Labor Day with a piece that recounts how labor unions first emancipated workers and gave them power back in Gilded Age and through the first half of the 20th Century. But in the latter half of the 1900s worker leverage and bargaining power waned as unions lost influence, particularly in the private sector.
Fast-forward to today and the magazine argues that cryptocurrency can empower workers in the same way unions used to.
White-collar and blue-collar workers can't escape the crushing hamster wheel created by fiat money. The very people we depend on to care for us are under immense pressure. Fourteen percent of doctors reported doing drugs or drinking on the job to cope with burnout and PTSD from the pandemic. We are in serious trouble, folks.
The root of this problem is credit-based money and the need for central banks to inflate the currency. It is inflation that makes businesses and people run faster on the hamster wheel until we reach a breaking point. How can workers throw a wrench in the hamster wheel and make it stop once and for all?
Bitcoin is the best tool for economically empowering every worker in the United States and the world. Bitcoin gives back the energy the world's central banks stole from you. Bitcoin empowers you to make your own economic decision without interference from the state.
Bitcoin allows you to plan for the future without the fear that your hard-earned wealth will melt away because of the whims of some faceless banker in a smoke-filled room somewhere. Bitcoin takes away that power once and for all.
Unions on a Bitcoin standard would still be needed to ensure worker rights are fought for and protected. Unions would no longer have to negotiate pay as vigorously as they have in the past because inflation would no longer be the scourge eating up union member wages.
With deflationary money, goods and services will get cheaper, not more expensive. Quality of life would increase dramatically along with good benefits. Workers will demand to be paid in sats once the wider public recognizes this fundamental truth.