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Have you heard of the https://en.wikipedia.org/wiki/Wage_share https://en.wikipedia.org/wiki/Wage_share though? There is no law that all wage change is accounte
by Ericson2314 5y ago
Have you heard of the https://en.wikipedia.org/wiki/Wage_share https://en.wikipedia.org/wiki/Wage_share though? There is no law that all wage change is accounted for in productivity change and inflation.
Plus, recall Keynesian feedback loops that more wages will unlock more consumption -> more wages. So increasing the wage share can even make the rich better off, unless the rich cruely only care about their power relative to the poor.