Heavy equipment lies idle waiting for construction of a residential building to begin on Jan 27 in Brooklyn, New York.
Robert Nickelsberg/Getty Images
In the early years of the Obama administration, as new taxes on upper-income Americans were enacted as part of Obamacare and the expiry of the Bush tax cut loomed, it was common to hear libertarian types warn that businesspeople and entrepreneurs might just Go Galt. That is to say, if they determined that losing 50 cents of every dollar in taxation wasnt worth their trouble, theyd take a cue from the hero of Ayn Rands Atlas Shrugged,fold up their businesses, and quit work altogether. Check out this March 2009 Michelle Malkin column for an exegesis of this, um, idea. Enough, she wrote. While they take to the streets politically, untold numbers of Americas wealth producers are going on strike financially.
Want to listen to this article out loud? Hear it on Slate Voice.
Listen to an audio recording of this article
Get Slate Voice, the spoken edition of the magazine, made exclusively for Slate Plus members. In addition to this article, youll hear a daily selection of our best stories, handpicked by our editors and voiced by professional narrators.
Your Slate Voice podcast feed
To listen to an audio recording of this article, copy this link and add it to your podcast app:
For full instructions see the Slate Plus podcasts FAQ.
The logic of protesting taxes on income above a certain threshold by forgoing all incomeincluding the income taxed at much higher ratesalways escaped me. But people dont always behave in a rational manner, and they continually do have to weigh the utility of working for what will not be a satisfactory return against the free time or leisure they might enjoy from not working at all. Anyway, the movement fared about as well as the widely panned, hardly seen 2011 film adaptation of Rands book.
Fast-forward eight years, and it seems that a different group of people may be deciding to Go Galt: workers.
Earlier this week, the Department of Labor released the latest Job Opening and Labor Turnover Summary (JOLTS) report, which tallies job openings, hires, and quits. In June, the number of open positions spiked to 6.2 million, up 461,000 from May. Thats slightly more than the entire population of Missouri. Its a record, and its up 11 percent from June 2016.
There are plenty of explanations for the seeming shortage of workers. Baby boomers are exiting the workforce. Many of the undocumented immigrants who fill low-paying service jobs have left the country or have been deported. The economy has been expanding for more than eight years, and the unemployment rate is 4.3 percent. Which means many of the people who can hold down jobsor want to hold down jobsalready have them. In some areas, the need to pass drug tests is disqualifying individuals from the workforce. And in some instances, there just arent enough people with the relevant skills to fill the openings.
But as readers of this column have heard me say before, one of the bigperhaps the biggestproblem in the labor market today is that employers arent willing to pay people enough to fill their open positions. And this is happening even as they must fill a record number of openings. Hiring today means you have to convince someone to leave their job, leave school, or get off the couch. And if the incentive isnt sufficiently large, it is hard to find a new employee.
Now, there are plenty of people without jobs in the U.S., and there are plenty of people who are working part-time but would prefer to work full-time. But the labor market isnt always particularly efficient. People dont always live near where the jobs are plentiful. And even if they do, they may not be willing to do the job at the going rate. Some number of people are essentially telling employers to take their crappy jobs with their crappy wages and shove it.
And so crops are rotting in the fields in Florida and California because farmers cant find people to pick them. (Another way to think about this is that farmers were willing to invest the money to buy seeds, plow the fields, plant the crops, buy water and pesticidesbut arent willing to bring the stuff they grow to market.) Roofers have been forgoing taking on new jobs because they cant hire people to schlep the shingles. Bed and breakfasts and restaurants in Maine were slow to open or have operated with reduced hours this year because they cant find housekeepers and waiters.
Top Comment
Why would anyone take these low paying jobs when you can make $18,974 in just 2 hours a week on the internet? That's just crazy. More...
Its not just happening in rural areas. At the end of June, there were 225,000 open positions in construction, up 31 percent from 171,000 in June 2016; 723,000 open positions in accommodations and food services (hotels and restaurants), up 12 percent from June 2016, and more than 1 million in trade, transportation, and utilities (which includes retail).
When you operate in a market, you have to keep raising your price until someone is willing to accept your bid. But for the last several years, American employers have steadfastly refused to raise wages. And now their stinginess is catching up with them. In many instances, employers simply arent offering sufficient incentives for people to apply for their jobs, show up to interviews, accept their offers, or show up to work. Some number of people would prefer the low level of income they have, or no income at all, to doing the work on offer at the wages listed.As Minneapolis Fed President Neel Kashkari told a group of businesspeople earlier this week, If youre not raising wages, then it just sounds like whining.
See the rest here:
Workers Are Going Galt - Slate Magazine
- Why The Invincible Created New Characters Instead of Using Rohan - GameRant - November 2nd, 2023 [November 2nd, 2023]
- What is Objectivism? Ayn Rand's Philosophy - The Collector - November 2nd, 2023 [November 2nd, 2023]
- Sean Speer: The Left has a self-policing problem - The Hub - November 2nd, 2023 [November 2nd, 2023]
- It's 'Atlas Shrugged' and we're watching it live - Financial Times - May 18th, 2023 [May 18th, 2023]
- Jesse Kline: 'How to Blow Up a Pipeline' film's reprehensible attempt to mainstream terrorism - National Post - May 18th, 2023 [May 18th, 2023]
- Atlas (mythology) - Wikipedia - January 17th, 2023 [January 17th, 2023]
- Controversy King Aaron Rodgers Once Willingly F*cked Around With Everyone By Bragging About Owning Atlas Shrugged - The Sportsrush - January 4th, 2023 [January 4th, 2023]
- John Henry Kelley II: Everything you need to know about Michelle Pfeiffer's son - Yen.com.gh - October 17th, 2022 [October 17th, 2022]
- Five myths about Ayn Rand and Objectivism - Learn Liberty - October 15th, 2022 [October 15th, 2022]
- Atlas Shrugged Essay Contest - AynRand.org - October 6th, 2022 [October 6th, 2022]
- Mike Rowe and Ayn Rand on the Virtues of Thinking and Producing - The Objective Standard - September 22nd, 2022 [September 22nd, 2022]
- The pandemic economy will outlast the outbreak of covid | Mint - Mint - September 22nd, 2022 [September 22nd, 2022]
- Much Of The Pandemic Economy Is Here To Stay - Financial Advisor Magazine - September 22nd, 2022 [September 22nd, 2022]
- Why I Think The EV Tax Credits In The Inflation Reduction Act Will Work Out - CleanTechnica - August 15th, 2022 [August 15th, 2022]
- 25 And Counting - The Source Weekly - August 15th, 2022 [August 15th, 2022]
- What is a Libertarian? Part I: The Libertarian Movement - 1819 News - August 6th, 2022 [August 6th, 2022]
- Heather Nepa: A Desire to be a Difference-Maker - UNLV NewsCenter - August 6th, 2022 [August 6th, 2022]
- The Top 10 Books Billionaires Recommend - Forbes - July 21st, 2022 [July 21st, 2022]
- Telling People About Atlas Shrugged Now? - Galt's Gulch - July 7th, 2022 [July 7th, 2022]
- Ken Griffin Spent $54 Million Fighting a Tax Increase for the Rich. Secret IRS Data Shows It Paid Off for Him. - ProPublica - July 7th, 2022 [July 7th, 2022]
- LETTER: Thank cadre deployment and BEE for the mess - BusinessLIVE - July 7th, 2022 [July 7th, 2022]
- Is American democracy already lost? Half of us think so but the future remains unwritten - Salon - June 26th, 2022 [June 26th, 2022]
- Atlas shrugged: Getting mad with maps with attitude about latitude - Times of India - June 11th, 2022 [June 11th, 2022]
- Short Redhead Reel Reviews for the week of June 10 - ECM Publishers - June 11th, 2022 [June 11th, 2022]
- Connecticut conservatives are wary about a misinformation officer overseeing 2022 election - Hartford Courant - June 11th, 2022 [June 11th, 2022]
- Which Dystopian Story Does 2022 Resemble the Most? - Foundation for Economic Education - June 11th, 2022 [June 11th, 2022]
- Free Books - AynRand.org - May 6th, 2022 [May 6th, 2022]
- Atlas Shrugged Is A Feminist Tome - datalounge.com - May 6th, 2022 [May 6th, 2022]
- Liberalism versus Reaction in Ayn Rand Liberal Currents - Liberal Currents - May 6th, 2022 [May 6th, 2022]
- Why Critics of Angry Woke College Kids Are Missing the Point - The New York Times - May 6th, 2022 [May 6th, 2022]
- Digging into the Atom Bomb's Effects on Cold War America - PopMatters - May 6th, 2022 [May 6th, 2022]
- Bong Joon-ho's Mickey7 Adaptation Has the Potential to Be a Truly Great Science Fiction Movie - tor.com - April 27th, 2022 [April 27th, 2022]
- Thomas Piketty Is Right Out of Ayn Rands Nightmare - The Wall Street Journal - April 17th, 2022 [April 17th, 2022]
- Members Outspoken on The Left's Priorities - AMAC - The Association of Mature American Citizens - AMAC - April 13th, 2022 [April 13th, 2022]
- In The Midst Of Election Night Success, There Are Concerns For November - Wisconsin Right Now - April 11th, 2022 [April 11th, 2022]
- OPINION | EDITORIAL: Gas on the fire - Arkansas Online - March 27th, 2022 [March 27th, 2022]
- The Right Is Still the Enemy of Freedom - Jacobin magazine - March 27th, 2022 [March 27th, 2022]
- Genetics and Geography Don't Make a Family - The Cut - March 13th, 2022 [March 13th, 2022]
- Adecoagro: The Most Inexpensive And Speculative Farmland One Can Buy - Seeking Alpha - March 13th, 2022 [March 13th, 2022]
- Why The Bioshock Film Adaptation Is Going To Be Huge - The Workprint - February 19th, 2022 [February 19th, 2022]
- The Woman Who Won't, and Wouldn't, Appear on the Quarter - New Ideal - February 17th, 2022 [February 17th, 2022]
- Letters and feedback: Feb. 13, 2021 - Florida Today - February 15th, 2022 [February 15th, 2022]
- Happy birthday to the great Ayn Rand - Press-Enterprise - February 9th, 2022 [February 9th, 2022]
- Ranking the 10 Best Manning Cast Guests During Eli and Peyton Manning's First Season - Sportscasting - January 19th, 2022 [January 19th, 2022]
- Novak Djokovic is a profile in selfishness, and sports leaders are failing us all - ESPN - January 19th, 2022 [January 19th, 2022]
- Atlas Shrugged: Part II - Wikipedia - January 11th, 2022 [January 11th, 2022]
- Atlas Shrugged: Part I (2011) - Full Cast & Crew - IMDb - January 11th, 2022 [January 11th, 2022]
- Twitter Freaks After Aaron Rodgers Touts 'Atlas Shrugged' - January 9th, 2022 [January 9th, 2022]
- Leftists completely lose it after Aaron Rodgers says Ayn ... - January 9th, 2022 [January 9th, 2022]
- Who is John Galt ? | Opinion | murrayledger.com - Murray Ledger and Times - January 9th, 2022 [January 9th, 2022]
- Wall Street is looking at Fed and the virus the wrong way, analyst says - MarketWatch - January 9th, 2022 [January 9th, 2022]
- Here's Aaron Rodgers' strong response to one NFL MVP voter - Packers Wire - January 9th, 2022 [January 9th, 2022]
- Your Opinion: Doomed to live in our mess - Jefferson City News Tribune - December 23rd, 2021 [December 23rd, 2021]
- The Remnant: Bitcoins Game Of Thrones - Bitcoin Magazine - December 23rd, 2021 [December 23rd, 2021]
- The Monster of We : Throughline - NPR - December 22nd, 2021 [December 22nd, 2021]
- Whats New on Netflix & Top 10s: December 17th, 2021 - What's on Netflix - December 22nd, 2021 [December 22nd, 2021]
- John Dutton, the Future First Spite-Governor in U.S. History - The Ringer - December 22nd, 2021 [December 22nd, 2021]
- The New Luxury Vacation: Being Dumped in the Middle of Nowhere - The New Yorker - November 25th, 2021 [November 25th, 2021]
- Top 10 medical exemptions granted to unvaccinated Conservative MPs - The Beaverton - November 25th, 2021 [November 25th, 2021]
- Capitalism's over: The man who made millions by betting the economy would never recover - New Statesman - November 19th, 2021 [November 19th, 2021]
- John Galt - Wikipedia - November 9th, 2021 [November 9th, 2021]
- Review of Edward Younkins, Exploring Atlas Shrugged: Ayn ... - November 9th, 2021 [November 9th, 2021]
- 'I wasn't an activist before that day' Newly released from prison, Vladislav Mordasov wants to put his time 'on the inside' to use Meduza - Meduza - November 5th, 2021 [November 5th, 2021]
- Elon Musk is just the latest in a long line of insecure billionaires - The Irish Times - November 5th, 2021 [November 5th, 2021]
- Atlas Shrugged II: The Strike (2012) - IMDb - November 1st, 2021 [November 1st, 2021]
- Biting the bullet on structural change The Bowdoin Orient - The Bowdoin Orient - November 1st, 2021 [November 1st, 2021]
- In the studio with Lucy McKenzie - Apollo Magazine - November 1st, 2021 [November 1st, 2021]
- Atlas Shrugged: Full Book Summary | SparkNotes - October 28th, 2021 [October 28th, 2021]
- Opinion | What 'Dune' Gets Right that 'Foundation' Doesn't - The New York Times - October 28th, 2021 [October 28th, 2021]
- Romney Says Billionaires Will Just Buy Paintings if Taxes Raised - Second Nexus - October 28th, 2021 [October 28th, 2021]
- UT Austin's Liberty Institute? What's that, professors ask - Inside Higher Ed - September 26th, 2021 [September 26th, 2021]
- FROM THE OPINION PAGE My literary palate continues to expand with each passing year - Bluefield Daily Telegraph - September 26th, 2021 [September 26th, 2021]
- Brandy Melville: Behind the Scenes at the 'Evil' Fast-Fashion Empire - Business Insider - September 8th, 2021 [September 8th, 2021]
- The Truly Amazing Al Ruddy Delivers Cry Macho After All These Years - Deadline - September 8th, 2021 [September 8th, 2021]
- 14 Best Books To Read Ever On National Read A Book Day 2021 - International Business Times - September 8th, 2021 [September 8th, 2021]
- On the frontier, trains brought progress. They still do. - Kansas Reflector - August 22nd, 2021 [August 22nd, 2021]
- Forum, Aug. 3: NH government back on a right-wing leash - Valley News - August 4th, 2021 [August 4th, 2021]
- Atlas Shrugged Part III: Who Is John Galt? - Wikipedia - August 2nd, 2021 [August 2nd, 2021]
- Atlas Shrugged: Who Is John Galt? (2014) - IMDb - August 2nd, 2021 [August 2nd, 2021]
- Of prophets, patriots, demons and the three C's - Santa Barbara News-Press - August 2nd, 2021 [August 2nd, 2021]