Nations should focus on “living wages” as they approach difficult economic times, says Nela Richardson, chief economist at the ADP Research Institute. She speaks with Deutsche Well from the WEF meetings in Davos, Switzerland.
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#WEF2023 #worldeconomicforum #livingwages…(read more)
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Infected and infested
That’s because entry level jobs aren’t designed to be a living wage. This “expert” is clueless. Like most of these hilariously out of touch elitist goons.
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Very good video
Spoke about trade passing "through" China at lenght. Like If South China Sea belonged to China. No trade passes through China. It either otiginates there or goes around it.
When she said “The Ukraine” she makes it sound like a province of Russia.
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Why are Germans obsessed with Africans?
I remember when I made minimum wage. It was rough. I had roommates. Oh, what horror! It was like living in Soviet khrushchyovka except I got enough food stamps to eat like a king, had all the modern amenities and got to play video games half of every day. Then I decided I didn’t want to be poor and suck the resources from my fellow citizens and got an education, which was super easy to do with how many programs available for that. Then I got a job, worked hard, worked while my wife went to school. It’s almost like the opportunity was right there and I just needed to take it.
The level of entitlement and sheer lack of personal responsibility or accountability these days is astounding. People don’t want to take opportunity because that takes effort. Success and prosperity in America is all about attitude and taking responsibility for yourself. This is why immigrants have been coming and succeeding in building radically more prosperous lives here than they could have ever hoped for where they came from. Just look at (legal) US immigrant economic statistics. They do better than US born citizens. No matter what color, race or creed they are. Why? Because they come seeking opportunity. And they find it. And they take advantage of it. Americans are so entitled now days that they just demand everything be given to them. Stop complaining about rich people and make yourself rich.
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This is a smart woman.
It's a nuanced topic, a living wage to one person in the same area can be very different than it is to another.
Someone literally making 2x as much as me can have less disposable income simply because they've made worse consumer decisions. Worse life decisions. They could live in relative poverty as I have the disposable income to do w/e I want, within reason. While I look to buy 2nd and 3rd homes, they may struggle to pay rent or car loans or buy clothes for their children.
The minimum wage in the US is comically low though, that is without question. $16/Hour is probably where I'd start today and keep the Federal Interest rate high enough to keep inflation at 0% in perpetuity so we need not worry about raising it. So sustainable economic practices are adopted.
Economic growth isn't an end in itself, it can only be a means to an end and it's not always a positive means. Recession then isn't always a negative thing. It too is a means to an end and not necessarily an end in itself. Less people need less things. Less people that need less things is good for the environment, it means more things for less people as innovation and efficiency improves.
3 billion people could live upper middle class lifestyles all over the word using 100% renewable energy with AI/robots doing most of the work. Quality of life is an end in itself.
Wow it's almost like capitalism only works when the rich can pay exploitative wages. Maybe it's time for a better system?
Some truthful points spoken here, which is the pathway to reality in the future.
Fiscal stimulus in the US is not even remotely the primary driver behind inflation in the US. This is an empirically unsupportable statement.
Hai how ru
"living wage" is a relative, undefinable term. Everybody's life is different
Wages are defined and determined by the purchasers of any good or service, not the provider of the service or good. For example when there was a big push to buy American textiles, i.e. jeans when given the choice Americans bought the cheaper imports at a 9 to 1 ratio. Another example Lexus cannot charge $150,000 for an SUV when the market has similar options for half that cost.
As for the 'Living wage' which is nothing more than a social construct totally disconnected from the realities of how people spend their money. The illusion of this economist is that she somehow thinks that centralized governmental intervention with change the core human caveman wiring to accept standards i.e. non market-based wage demands when it lowers the consumer's standard of living.
Tax the rich!
Affirmative action hire
Need more competition but governments limit it to the favored!
Republicans simply do not care for holding companies accountable for living wages. Instead they simply give these companies more tax breaks when they barely pay a dime anyways. They pocket the extra profits and keep wages the same. NOTHING TRICKLES DOWN ✅
Communists always screw up everything in the long run.