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Capitalism provides an answer, but it's not to pay people more. Wages are determined by the labor market, and employers should pay market prices. Rather, capit
by jganetsk 11y ago
Capitalism provides an answer, but it's not to pay people more. Wages are determined by the labor market, and employers should pay market prices.
Rather, capitalism's answer is for companies to return the cash to their shareholders. This can be done either through stock buybacks or dividends.
I'm not enough of an expert to speculate on what happens next. Maybe this would just shuffle the hording problem around. But this would be a very simple first step that works entirely within the parameters of our current system.