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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.
Commented Jan 5, 2013 on Jobs Guarantees, good and bad at Stumbling and Mumbling
Jobs Guarantees, good and bad
You can rely on the Labour party to live down to its reputation as a party of capitalism. Its "compulsory jobs guarantee" does so in two ways. First, the fact that it will be compulsory for the long-term unemployed to take up the jobs panders to a mistaken "divide and rule" rhetoric that disting...
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.
Commented Aug 22, 2012 on Austerity's not working at Stumbling and Mumbling
Austerity's not working
Yet again, government borrowing has exceeded expectations. So far this financial year, the deficit on current borrowing* has been £42.1bn compared to £30.9bn in the same period last year. This puts in doubt the OBR's forecast that this deficit would fall this year, from £98.9bn to £95.3bn. Dunca...
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Jul 10, 2011
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