Why have wages been allowed to stagnate? - Steven Hail I recently wrote an article [1] pointing out that people in minimum wage jobs today in America, Australia and the UK are doing much worse, relative to the well-off, than they were 50 years ago. The article argues for an increase in the … [Read more...]
Minsky on secure employment
Minsky on secure employment - Editor "The persistence of poverty in the midst of potential plenty is reason enough for the adoption of a program of job guarantees for all; a program that will go far toward erasing both private and public poverty." (Minsky, in 1964) "If the economy provides … [Read more...]
Corporations and mainstream media on “horrors” of higher wages
Corporations and mainstream media on “horrors” of higher wages - Dean Baker The media have treated us to an array of stories warning us of terrible labor shortages facing the country. Some of the pieces have been general, such as a CNBC piece on the labor shortage “reaching a critical point”, … [Read more...]
What is a good economy?
What is a good economy? - Warren Mosler "I just want to say a quick word about what a good economy is because it's been so long since we've had a good economy. You've got to be at least as I am to remember it. In a good economy business competes for people. There is a shortage of people to work for … [Read more...]
