I rank this right up there with "foody" as a word or phrase that would best serve the world by being savaged by a pack of dogs.
The real reason we can't have nice things is because wages are stagnant. Stagnant, of course, is a euphemism for swirling down the drain. I suspect the only reason wages have gone up at all is due to the enormous inverse gravity well of the top wage earners, whose monetary density is swiftly reaching an event horizon past which even the crumbs from their table cannot escape.
Your average CEO is deeply concerned by this graph. I don't know if you noticed, but right at the very end, productivity has leveled out. This is why, they say, we can't have nice things.
1 comment:
Well, if you are a wealthy person you benefit from bringing in low wage immigrants to push down aggregate wages and kill wage demands at the bottom end of the labor market.
The wealthy especially love illegal immigration. They can then set below minimum wage levels for their workers. Its a disgrace.
Post a Comment