tooAlive
Silver Member
Time will tell the tale, CleverGirl. Out of curiosity, have you read Marx (on socialism) and Smith (on capitalism)? Those are interesting explorations of human economics--unfortunately, many folks resort to them as ideological texts. Both were sociologists/economists that were examining potential outcomes of economic models.
My simple contention is that our economy can only recover when activity increases; suppressed wages in the labor market means that activity remains suppressed; employers will resist increasing wages and will do whatever they can to decrease wages . . .
And the spiral continues downward. The only thing to stop the downward spiral is labor political power (basically absent since the Reagan years) or governmental policy (decreasing over time; compare current marginal tax rates with those of 1957).
Employers want to reduce wages because taxes imposed on them are so damn high.