Close Menu
Aspire Market Guides
  • Home
  • Alternative Investments
  • Cryptocurrency
  • Economics
  • Equity Investments
  • Mutual Funds
  • Real Estate
  • Trading
What's Hot

Solaris Energy Infrastructure (SEI) Stock Valuation After Rebrand Toward Power And Data Center Infrastructure

June 14, 2026

Bitcoin Bottom is Far From Over, Galaxy Digital Sees BTC Dip to $30,000

June 13, 2026

Is Eli Lilly (LLY) One Of The Most Profitable Blue Chip Stocks To Buy According To Hedge Funds?

June 13, 2026
Facebook X (Twitter) Instagram
Trending:
  • Solaris Energy Infrastructure (SEI) Stock Valuation After Rebrand Toward Power And Data Center Infrastructure
  • Bitcoin Bottom is Far From Over, Galaxy Digital Sees BTC Dip to $30,000
  • Is Eli Lilly (LLY) One Of The Most Profitable Blue Chip Stocks To Buy According To Hedge Funds?
  • SpaceX IPO debuts in US markets, Musk becomes world’s first trillionaire | Financial Markets News
  • London Company Small-Mid Cap Strategy Sold Trex Company (TREX) Due to Competition Concerns
  • Will Gold Sector Volatility and New ESG Gains Change Barrick Mining’s (TSX:ABX) Narrative
  • Fintech Stock Block Is Trying to Prove That the Ultimate Cryptocurrency Has a Real Use Case, But Will It Work?
  • Meet Our New Faculty: Luisa Cefala
  • Arteche acquires 100% of the German company SEG Electronics from AURELIUS Private Equity
  • Morgan Lewis Joined By Gemma Roberts in London
Sunday, June 14
Facebook X (Twitter) Instagram
Aspire Market Guides
  • Home
  • Alternative Investments
  • Cryptocurrency
  • Economics
  • Equity Investments
  • Mutual Funds
  • Real Estate
  • Trading
Aspire Market Guides
Home»Economics»Our View: Labour Day rhetoric ignores modern economic reality
Economics

Our View: Labour Day rhetoric ignores modern economic reality

By CharlotteMay 1, 20263 Mins Read
Share
Facebook Twitter Pinterest Email Copy Link


Cyprus marks Labour Day today with the usual union-organised parades to mark the past struggles of the workers. And although working conditions, pay and living standards have improved dramatically in the last 30 to 40 years, hearing the declarations of unions, you would think we were living in the 1950s when workers struggled to make ends meet.

For the unions, which have to justify their existence, so as to carry on taking the monthly subscription from their members and, more importantly, their pension fund contributions, the class struggle is still raging and they have to defend the impoverished downtrodden workers. This is the impression given by reading the May 1 declaration of the Sek union federation, which sounds more left-wing than the Akel union federation Peo.

Sek informed us in its May 1 declaration that it was “seeking a development model that was people-centred, rejecting approaches that downgrade the dignity and quality in employment.” What sort of development model did we have until now? Exploitative capitalism that leaves workers penniless and living in slums? This is the impression we are given by Sek’s self-appointed defenders of the workers, who sound as Marxist as their comrades of Akel.

“The competitiveness of the Cyprus economy is not threatened by wages, but by the erosion of purchasing power, profiteering and delays in the smooth and socially just transition to the digital and green transformation.” This is straight out of the Akel book of anti-capitalist rhetoric that labels all businesses as “profiteering,” and refuses to accept the fact that business profits are vital for economic growth and improvement of living standards.

It is the profit motive that ensured the continuous improvement of living standards in the market economies of the West. In the communist economies of the former Eastern Bloc where companies made no profits, the workers never saw their material conditions improve. It was a people-centred model of development that the wise union bosses of Sek want to impose in Cyprus to ensure there is no profiteering.

The communists of Akel have managed to make everyone think like them on the economy. Businesses, making profits, are enemies of the people and only union bosses know what is good for the economy. Nobody dares to challenge this propaganda and praise the market economy thanks to which the people of Cyprus have seen their standard of living on a steady upward path. It is this system that has made all people relatively better off and not the narrow-minded union bosses, who specialize in anti-market economy platitudes.

By all means celebrate Labour Day and pay tribute to the workers that fought for better pay and working conditions in days gone by. But we should also accept that we live in different times, times in which workers have much better lives, thanks to the market economy.



Source link

Related Posts

Economics

SpaceX IPO debuts in US markets, Musk becomes world’s first trillionaire | Financial Markets News

June 13, 2026
Economics

Meet Our New Faculty: Luisa Cefala

June 13, 2026
Economics

South Florida reactions remain mixed as Cuba announces new economic reforms

June 13, 2026
Economics

Parental Educational Attainment and Child Labor: Evidence From Malawi | Journal of Agricultural and Applied Economics

June 13, 2026
Economics

State-commissioned analyses: Nevada film tax credit expansion likely not sustainable

June 13, 2026
Economics

Report highlights success of new approach to highways maintenance

June 13, 2026
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Solaris Energy Infrastructure (SEI) Stock Valuation After Rebrand Toward Power And Data Center Infrastructure

June 14, 2026

Bitcoin Bottom is Far From Over, Galaxy Digital Sees BTC Dip to $30,000

June 13, 2026

Is Eli Lilly (LLY) One Of The Most Profitable Blue Chip Stocks To Buy According To Hedge Funds?

June 13, 2026

SpaceX IPO debuts in US markets, Musk becomes world’s first trillionaire | Financial Markets News

June 13, 2026
SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.


I consent to being contacted via telephone and/or email and I consent to my data being stored in accordance with European GDPR regulations and agree to the terms of use and privacy policy.

Featured

New Gig Worker Tax Break May Reshape DoorDash Dasher Economics

April 8, 2026

Best Mutual Funds to Invest in April 2026: Top 10 Expert Picks

April 12, 2026

Stablecoin Accounting Inspected as Coins Treated Like Cash (1)

April 17, 2026
Monthly Featured

The AI and Economics Summer Institute (AIE Summer Institute) 2026 – Center for Applied Artificial Intelligence

April 14, 2026

Stablecoins can help businesses turn costs into revenue, but not everyone needs to issue a token:

April 19, 2026

XA Investments to Become Adviser to Evanston Capital Alternative Investment Fund and Retain Evanston as Portfolio Manager

May 5, 2026
Latest Posts

Solaris Energy Infrastructure (SEI) Stock Valuation After Rebrand Toward Power And Data Center Infrastructure

June 14, 2026

Bitcoin Bottom is Far From Over, Galaxy Digital Sees BTC Dip to $30,000

June 13, 2026

Is Eli Lilly (LLY) One Of The Most Profitable Blue Chip Stocks To Buy According To Hedge Funds?

June 13, 2026
SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.


I consent to being contacted via telephone and/or email and I consent to my data being stored in accordance with European GDPR regulations and agree to the terms of use and privacy policy.

© 2026 Aspire Market Guides.
  • Contact us
  • Privacy Policy
  • Terms and Conditions

Type above and press Enter to search. Press Esc to cancel.

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first.

Complete the form below to subscribe to our weekly newsletter.


I consent to being contacted via telephone and/or email and I consent to my data being stored in accordance with European GDPR regulations and agree to the terms of use and privacy policy.