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I just started reading Pikkety and at 2010 already private owned capital was at 600% of GDP (almost reaching pre WW1 lvl). I wonder how it's now when stock rise

I just started reading Pikkety and at 2010 already private owned capital was at 600% of GDP (almost reaching pre WW1 lvl). I wonder how it's now when stock rised 4x in the last 4 years (probably will rise more with next relief). They have some DB online with such info. I'm of opinion that work is no longer profitable (and I have top non-exec salary). I'm not from US but IMO federal wage is stupid but on state lvl I would urge you to implement it. I'm from Poland and I think that keeping our own currency was good for staying competitive. If we had federal EU minimum wage we would be in ruin. Actually EU mandated minimum wage recently but it's defined as 50% of average salary which we have in our country already. Gemany has min at 41% or something like that for example.

runamok 6y ago
That seems more sane and seems to ensure less inequality. E.g. a rising tide lifts all boats. I think that would be something like 24000 a year based on 2019: https://www.thestreet.com/personal-finance/average-income-in-us-14852178 https://www.thestreet.com/personal-finance/average-income-in... Current federal minimum is about $15,000 a year for 40 hours a week. However, I doubt the politicians will do it as it's harder to explain.
- machiaweliczny 6y ago
  Fedeal min wage might cause demage to underdeveloped parts of country if it's too high.