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The social effects of this seem to be really good, if you look at quality of life in Switzerland. If wages at the bottom go up and that causes inflation, the o
by TulliusCicero 4y ago
The social effects of this seem to be really good, if you look at quality of life in Switzerland.
If wages at the bottom go up and that causes inflation, the overall impact of that is wage compression, or in other words, reduced income inequality. Which is what we want.
- NovemberWhiskey 4y ago>reduced income inequality. Which is what we want. Reducing the PPP of rich people while only maintaining that of poorer people seems like a dubious policy outcome, at least in economic terms.
- TulliusCicero 4y agoThat's not how it works. The increase in income in the lower quintile outpaces inflation. Well, it wouldn't outpace inflation right now, shit is crazy. But usually, yes.