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Trickle-down economics is "wrong" according to the IMF

#74

Quote:No, I don't think so... The ability to collectively bargain may have some to do with it... But Labor costs have been stagnant for at least 2 decades. So I think the major player is driven by basic economic principles. There is lower demand for jobs in America. There is a high supply of workers in America. The demand sets the price for wages. Because there are so many people fighting for only a few jobs, the wages are lowered here.


And again, the reason why all these manufacturing jobs have left is because of free trade with 3rd world and developing countries where wages are pennies on the dollar.


Biggest issue that no one wants to talk about: the increased supply of labor when women entered the workforce. You can't just add 75% to your supply and expect demand to remain the same. I'm not saying it's bad, it just is.
“An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato

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Trickle-down economics is "wrong" according to the IMF - by flsprtsgod - 06-27-2015, 09:34 AM



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