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Re: The answer to this and any other economic question should not be blanket
thank you
posted by
Xeno-x
on November 25, 2008 at 4:11 PM
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The answer to this and any other economic question should not be blanket
in scope. Read this article to see what I mean by that:
http://www.epi.org/content.cfm/briefingpapers_bp150
posted by
FineYoungSinger
on November 25, 2008 at 11:10 AM
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Re: Every indicator shows that the opposite is true. Posted by metalrat
that was my point exactly -- thank you
posted by
Xeno-x
on November 25, 2008 at 6:03 AM
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Every indicator shows that the opposite is true.
People with higher pay have more disposable income to pump back into the economy, which has a ripple effect on every segment of the economy.
Back in the '60's, the average CEO earned around 40 times what his average worker earned, and the economy was much stronger than it is now.
Today the average CEO earns(I do injustice to the word) around 400 times what his average worker earns, and the economy is in shambles.
So, the notion that higher wages is bad for the economy is without foundation, historical or otherwise.
Thanks for putting the question out there....unfortunately it gave rise to my soapbox!
posted by
metalrat
on November 24, 2008 at 7:40 PM
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