An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Thursday, October 18, 2012
Here's what the elite have in store for you: low wages so companies can keep earning big profits!
There is no conspiracy that they are huddling in a secret marble palace and colluding to lower the wages of 100 million Americans. That's lunacy.
Lower wages is the cure for unemployment. Period.
All inflation will do is trick people into accepting lower real wage contracts. Well, that can be done in a free labor market as well, with less distortions to the price system.
Elites compete for labor and pay market prices.
ReplyDeleteThere is no conspiracy that they are huddling in a secret marble palace and colluding to lower the wages of 100 million Americans. That's lunacy.
Lower wages is the cure for unemployment. Period.
All inflation will do is trick people into accepting lower real wage contracts. Well, that can be done in a free labor market as well, with less distortions to the price system.