4 ms·
To be clear, I don't know that anyone thinks that we need people to work in jobs where they are paid so little that they can't make a living. I think those jobs
by listless 5y ago
To be clear, I don't know that anyone thinks that we need people to work in jobs where they are paid so little that they can't make a living. I think those jobs work very well for students and folks who need part time income.
What I am debating is whether raising rages simply causes inflation that then negates the effect of the wage. That's not a problem with an economy per-say, but rather just how an economy works. But perhaps I'm missing something.
All of that said, I share the concern about wealth inequality. A country will eventually collapse if the people at the bottom feel like the game is rigged and they will never get ahead.
- spaetzleesser 5y ago“What I am debating is whether raising rages simply causes inflation that then negates the effect of the wage.” You could argue that exactly this has happened when upper incomes were raised disproportionately in the last few decades. All the major expenses/investments of that class like housing, health care, education, stocks and others shot up. Seems there is more money around than they can use productively so they just kept bidding up prices.