The Battle Over Fiat Wages

The longshoremen’s problem isn’t stingy employers but rather the collapse of the value of the dollars with which they are being paid.

AP/Marta Lavandier
Dockworkers from Port Miami, Florida on the picket line, October 3, 2024. AP/Marta Lavandier

The 62 percent wage increase the Longshoremen just won moves us to tell— yet again — about our brunch at the home of the editor of the Jewish Daily Forward, Simon Weber. It was July 1984. Among those the table, piled with bagels, smoked fish, and cream cheese, was the Nobel laureate in literature Isaac Bashevis Singer. We remarked that the Wall Street Journal, where we were pulling an oar, had just come out for, if only in theory, open borders.

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