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William Richardson
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If the minimum wage was increased to a Decent Civilised Living Wage, this would increase the income effect, leveraging up wages to catch up with the lost labour productivity income wedge and equalising incomes from the bottom up.
rogerh or on completely unproductive casino gambling via the continuing FIREnancialisation of the economy? Bigger deficits mean higher aggregate demand, higher sales and higher profits for companies who employ more workers when demand/sales go up.
Toggle Commented Aug 22, 2012 on Austerity's not working at Stumbling and Mumbling
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Jul 10, 2011