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Depressing wages is a good thing -- or seemingly a good thing -- if you're somebody like Mark Zuckerberg who doesn't depend on wages for income. For everybody e
by jboynyc 13y ago
Depressing wages is a good thing -- or seemingly a good thing -- if you're somebody like Mark Zuckerberg who doesn't depend on wages for income. For everybody else it means hardship on an individual level, and rising social unrest on a social level.
Also, lower wage levels lead to reduced domestic demand for goods, which in turn can lead to a crisis of overproduction, which can even affect wealthy capitalists in their gated communities, not just workers.