Tim Gurner, the viral Australian multimillionaire who wants more workers to be unemployed, was debunked by an economist in 1943.
Tim Gurner, the viral Australian multimillionaire who wants more workers to be unemployed, was debunked by an economist in 1943.
It’s hard for profits to rise when people don’t have money to spend.
Henry Ford pushed the 40 hour work week main stream and raised wages. Why? Because for people to buy cars they needed money to buy the cars and use on trips, and time to spend going places after work or on the weekends.
Unemployed and underpaid people aren’t going to be buying many products. Having a pool of slaves is no good when there isn’t a pool of consumers to sell to.
Cost cutting as a means to profitability can only go so far. Growth really has no limits.
Part of it is wealth disparity. Basic necessities take up a lot of the average persons income and they canot afford to higher someone like themselves to do things while those of great wealth can hire many with at most trivial impact to their income. It does not help that so few are involved in food production now so much of the disparity is disparity in production of necessities.
I think there are strong arguments in favor of the working class needing better balance right now.
You’re right. The middle class is still hurting. It really should shake loose more of the top’s wealth via union strikes, quiet quitting, etc.