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I suspect the wage figure doesn’t take into account non-monetary benefits like health insurance. Considering healthcare and education are the only sectors that
by eclat 6y ago
I suspect the wage figure doesn’t take into account non-monetary benefits like health insurance. Considering healthcare and education are the only sectors that have increased prices in relation to wages, this is probably an omission that would change the argument of this article.
But yes, make education better and cheaper like the Swedes and Estonians have done with school vouchers, and adopt the Bismarck healthcare model used to great success in many European countries like Germany, Switzerland, France, & the Netherlands.
These are two simple suggestions, naturally the method will be as key as the principle in order for them to be successful, but the track record is there.
Alternatively, adopt the negative income tax that Milton Friedman suggested, which together with a state-guaranteed health insurance and a school voucher system, would create a really solid and efficient welfare state. Maybe forego income tax totally and do that with a higher VAT instead.