4 ms·

What do you mean by wage crush? I can't find any definition.

• Workaccount2 5y ago
  It's a term I use myself. It's pushing down on higher wages while pushing up on lower wages in effort to concentrate people into middle class. This would also mean that many people who are not even remotely close to "the billionaire class" would get pushed down, so it's not really popular with high-earning coastal liberals, and probably many people here.
  • giantg2 5y ago
    But what mechanism would that use? Things like taxes would likely make a limited impact due to raising wages to offset the tax until the point that off-shore is more competitive. Legislative restrictions have been struck down in the past (the $1M CEO restriction of the 80s?).
    • Workaccount2 5y ago
      I honestly don't know. I tend to be in favor of using gentle nudges to leverage natural market forces to institute change. Fortunately/unfortunately capitalism is designed to be self reinforcing. Catching more fish enables you to build bigger nets and protect fishing methods. But there isn't really any natural mechanism for incentivizing a reversing of that. Someone smarter than me will have to come up with something. Right now though it's a runaway feedback loop that's going to eventually destroy itself by "doing everything right".
  • jimmaswell 5y ago
    Raising lower end wages coupled with inflation would have the same effect, wouldn't it?
    • giantg2 5y ago
      At least in my experience, the higher end people understand inflation and would demand higher pay to match or beat inflation. Especially at the executive level.