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Seems to me that we have been racing to the bottom for years. In the classic battle of labor and capital, labor has rolled over. Now we cheer about cutting the minimum wage, busting unions, fawning over the super wealthy,etc. But here is the thing. When workers earn a decent wage, they spend it. Much more of our money recirculates when workers are fairly paid, and the economy is healthier and more productive. Right now we are in a race for the bottom, where the workers relative wealth and health are stagnant or declining, job security is shattered, and we paper over that with low priced junk from Wal-Mart, Dollar Stores, and food stamps for the working poor.
Admittedly, paying labor more raises prices, but guess what? We are the most innovative country in the world. Why can't we appeal to the achievement drive of our employees. They want to do world class work, not produce cheap schlock. Why not ask them to do world class work, rather than work long hours for peanuts? The Germans do this, and they do it well. This will only come from the will of the people, and a respect for the drive and creativity of the workers.
When folks go from millionaires to billionaires, I think their achievement focus declines. They might have wanted to do something worthwhile at one point, but eventually it becomes ALL about aggregating wealth. That attitude is not what made America great. It is a pathology. A thirst for real innovation and achievement has always been more important than pure greed. Our workers can beat our capitalist overlords at that anytime, and when we invest in the worker, the country leads the world. The last century has shown this plainly. Tax cuts for the rich, in contrast, do almost nothing, except fund lobbyists and Super Pacs.
If you don't like what you get paid, work elsewhere. There have been low paying jobs forever. Someone slinging a broom around should get pay commensurate with the job. Or get educated and/or get your own business.
The amount of spending on entertainment by the middle class has tripled since 1960, the square footage of a home has increased by over 250%, and the number of cars owned by a middle class family has increased by 80% over the last 60 years.
The middle class could do quite well if they kept a consistent standard of living.
Being you are such an expert on business and labor, how many successful businesses have/do you have/own?
2 and I agree with the OP.
Wages need to increase.
Even if you own a business, your a slave to your suppliers and/or many other factors. Small businesses (the type everyone is recommended) are going to have no significant impact on the economy as a whole or the price of goods as a whole. We are dependent upon many other prices that are set.
Looking at data and facts now makes me 'out of touch'? Knowing that the average size of a middle class house in 1950 was 900 sqft whereas today it is 2,400 sqft is 'out of touch'? Knowing that spending on non-essential entertainment expenses as a % of net income has increased by a multiple of three among the middle class from 1960 to today is 'out of touch'?
I apologize for looking at facts instead of blindly listening to mother jones and MSNBC. What was I thinking?
Why not just encourage workers to "earn" a bigger slice of the pie?
Too many nine-to-fivers not looking for anything but a paycheck, and getting by with doing the least amount of work to earn one.
Some of us old heads know that most people learn to live on what they earn and adjust their lifestyles according to their incomes.
I am AMAZED that people simply overlook the HUGE gap in pay/benefits between upper management/CEO's of companies & the workers. The ones who are actually keeping that company chugging along. The wage increase of CEO's from back in the day to now is astonishing. Yet, people like you will never open your eyes to this, you will continue to blame the worker for it. Unreal.
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Give the workers a bigger slice of the pie
