Introduction: The Problem of Wage Slavery
Wage slavery is deeply embedded in our culture, but most people rarely contemplate its root causes. Some mistakenly attribute wage slavery to capitalism, when in fact the problem lies elsewhere. In this article, we will examine the conditions that create wage slavery and explore ways to break free from it.
Defining Wage Slavery
A wage slave is someone who feels trapped in their job due to financial demands and cannot leave. Such individuals often feel miserable and trapped, with a predominantly negative outlook on life. Contrary to popular belief, wage slavery is not limited to low-income workers; it can affect individuals across all income levels. Wage slaves have often entered into a non-beneficial social contract, largely because they believe it is the only viable way to live, having been conditioned to accept this as the "system."
Creating Wage Slavery: A Three-Step Process
Accumulation of Debt: Wage slavery often begins with individuals accumulating debt, such as student loans, credit card debt, or mortgages. Although borrowing may initially appear justified for education or homeownership, over time, individuals become trapped in a cycle of borrowing and repaying debt. Universities, funded by this process, produce millions of wage slaves.
Selling Time For Money: Burdened by debt, individuals are forced to sell their time for wages. This traditional employment model has limitations, including a fixed income based on hours worked, a ceiling on earnings due to finite working hours, and employers' control over workers' time. If individuals are unable to work, their income stops. Over time, employers may demand more for less, particularly during periods of job scarcity.
Consumerism, Status & Excess Income: The final step involves enticing wage slaves to spend their excess income on consumer goods for entertainment or status. Seeking temporary relief, fulfillment, or societal status, wage slaves often spend on luxury items or follow the latest trends. However, indulging in consumerism exacerbates debt, requires more time to be sold to employers, and prevents individuals from escaping the system. True wealth is about owning one's time and freedom, not seeking status through material possessions.
It is important to note that the true beneficiaries of wage slavery are lenders and banks, as they profit from the debt. Many people mistakenly blame employers, when in reality, both companies and employees may be in debt.
Investment tip: invest in cash-rich companies, not those in debt.
True capitalism allows for the free exchange of labor, goods, and services and promotes independent living and contribution to society from a position of strength. However, the current system is tainted by usury, and debt creates wage slaves.
Escaping Wage Slavery: A Three-Step Solution
Stop Borrowing: The first step to breaking the cycle is to stop borrowing money, create a budget, live within one's means, and avoid accumulating new debts. It may be challenging to adopt a more frugal lifestyle initially, but it is crucial for financial independence. Instead of borrowing for freedom, individuals must budget their way to freedom by practicing deferred gratification.
Stop Selling Time For Money: To escape wage slavery, individuals must shift from selling time for money to creating assets that generate residual income. Time should be valued as the most important resource and used to create assets. Today, abundant opportunities exist to create a residual income. It is essential to re-educate oneself and optimize time by learning from various content creators. Explore business opportunities based on personal interests and hobbies, or use excess income to invest in assets.
Stop Trying to Buy Status and Shiny Things: Seeking status through debt-based spending drives many people's habits. If individuals buy something on debt to impress others, they are seeking status. Instead, individuals should prioritize self-respect and self-autonomy over societal acceptance. Avoid selling your soul for superficial validation.
Summary:
If individuals can take these steps, change their mindset, and escape societal conditioning that only benefits banks, they can live life on their own terms. Freedom from wage slavery is attainable by thinking differently from societal norms.