Each time a transaction of this sort happens, it reduces the value of actual currency, and thus we have inflation.One dollar in 1913 required .60 in 2007 to match its value. Since money is created through loans, that means it’s created through debt. So the more money there is, the more debt there is, and vice versa.
That’s a 96% devaluation since the Federal Reserve came into existence. 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.
There are many contributing factors that have led to our current economic system and continued acceptance of the 40-hour workweek, three major factors being consumerism, inflation, and debt. government needs money for whatever war they’ve decided to wage this year. government then prints up a bunch of pieces of paper that say “Treasury Bond” while at the same time, the Federal Reserve prints up a bunch of little pieces of paper that we know as money.
First, it’s important to understand exactly what inflation is, how it works, and how it leads to debt. They ask the Federal Reserve for a loan, and the Fed agrees to buy bonds (sort of like IOU’s) from the government in the amount of the requested loan. A trade is made between the government and the Federal Reserve—the bonds for the money—and the U. government directly deposits this newly printed money in a different bank, which in turn, takes its cut in fees and interest. Although this process takes place electronically now (only 3% of money is in physical form, the other 97% exists in computers) the problem either way is that it depletes the worth of the dollar. That was what gave money its value, but now the value of money is trusted to the Federal Reserve who has no moral objections to reducing that value by printing more money (basically legal counterfeit).
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.
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. 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, and by 1836, labor movement publications were also calling for a 40-hour workweek.
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.