The economics of low wages: When what comes down doesn’t go up

Posted: April 30, 2015 in economy
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Who should govern Britain?

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The economics of low wages


Salaries in rich countries are stagnating even as growth returns, and politicians are paying heed. They may struggle to improve things—and could make them worse

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ACCORDING to the rich world’s politicians, economics has a new villain. The modish scoundrel of the past seven years—the immoral banker outwitting inept regulators—has been edged out by a returning blackguard: the tight-fisted boss crushing the hopes of honest workers with miserly pay. In America workers have been demonstrating for higher pay and stronger union rights in the profitable but poorly paying food industry. Hillary Clinton has blasted CEOs who earn 300 times what the average worker does, pledging that her run for the presidency will champion the “everyday Americans” who have the “deck stacked” against them. In Britain Ed Miliband, leader of the opposition Labour Party, has told …<div class="og_rss_groups"></div>

via Economic Crisis


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