With Americans resigning their jobs in record numbers, the phenomenon of great resignation is actualizing these days. In August alone, more than 4.3 million US workers resigned, which signifies the pervasiveness of this resignation crisis.
As employers face an unprecedented situation, they are yet to find an alternate situation to counter the situation.
Seen from the Marxist perspective, it could be the beginning of a workers’ revolution as they are starting to reject the capitalists and industrialist hegemony upon themselves.
These crises are bound to intensify the already existing global supply chain crisis and its impact on Biden’s economic agenda, which could dramatically affect the 2022 midterm campaign.
Workers Rebellion Against the Capitalist System: The Beginning of Karl Marx’s Envisioned Change
The rise of capitalism made the situation of the general workers vulnerable not only in the United States but also across the whole world.
Karl Marx, the famous social scientist and the founder of the conflict perspective in social sciences, evinced that the revolution will come in the world only when the workers start to feel outraged against the capitalist system.
According to his theory of social change, the unassertiveness of workers in raising their voices against industrialists is one of the primary reasons why the class conflict and the wage gap is rising in the whole world right now.
Now, when the workers are resigning in great numbers, it is their indication against the industrialists that they cannot work under the repressive system anymore.
People are trying to take mental health seriously and maintain a work-life balance while seeking a better reward for their labor.
Researches are also suggesting that the social change which came in the aftermath of the pandemic in the form of work from home culture is being endorsed by workers now.
The comfort people get while working from their own places can surely never be replaced, especially under toxic environments of some corporations where preserving mental health is an issue of remarkable extent.
However, this is not true that all people are seeking to work online. It is just that workers want more freedom in working style so that they can do the job online one day and at the office the other.
In simple words, workers defy complying with each and every term of big businesses, which is the initiation of Marx’s envisioned rebellion.
Great Resignation Crisis: Biden’s Economic Agenda is in Danger Even Before its Beginning
The consequences of this great resignation wave are severe and can kick off a financial crisis that can impact the whole planet.
The manufacturing giants are already in the doldrums because the lack of a workforce is causing a global supply chain crisis.
Despite the fact that companies manufactured excessive commodities, they are unable to bring their products to the consumer markets because of workforce resignation.
Now, when these crises are heaping up, it is only a matter of time that the traffic jam at the global ports can become even more severe, which will force the big companies to stash their production, and hence the global GDP.
The biggest political loser among all of this crisis would be the incumbent Democrats, who are relying on their economic agenda to win the 2022 midterm elections.
When the infrastructure bill gets passed by the House and Democrats move toward its implementation, the job openings will rise to an unprecedented extent.
It is imperative to note here that the current job openings have already crossed ten million in the United States, and the actualization of the infrastructure package would further raise the number.
The Biden administration will find a chronic labor shortage to build all the necessary infrastructure that would be needed under the $1.2 trillion package.
But the misery will not be ended here. As the global manufacturers would already be going through financial strain, Biden’s agenda to tax them under his social reconciliation package would also be busted.
Many investors are likely to roll back their investments, seeing massive declining productions and increasing taxes.
The same would be the case with the minimum global taxation, where the companies will need to revisit their policies amid the rising taxation on them.
Final Thoughts
The great resignation crisis is unprecedented, and the world has never seen this sort of mass resignation before.
The administration needs to revisit the labor union policies to improve the living conditions of employees so that the crisis can be averted and the global economy could be back on track.
Eli is a Political Data Scientist with over thirty years of experience in Data Engineering, Analytics, and Digital Marketing. Eli uses his expertise to give the latest information and distinctive analysis on US Political News, US Foreign Affairs, Human Rights, and Racial Justice equipping readers with the inequivalent knowledge.