4 ms·
Simply looking at inflation and wages is sufficient to detect the problem, but not to solve it. An increase in wages is always limited by an increase in worker
by pengwing 5y ago
Simply looking at inflation and wages is sufficient to detect the problem, but not to solve it. An increase in wages is always limited by an increase in worker productivity.
GDP per hour worked increased by 1-2% yearly. ( https://data.oecd.org/lprdty/gdp-per-hour-worked.htm https://data.oecd.org/lprdty/gdp-per-hour-worked.htm ) To increase wages, increase productivity.