I very rarely make predictions about politics. But today I'm going to give it a go.
I predict that all of these politicians who are already beginning to center their 2016 campaigns around the issue of wage stagnation will find themselves scurrying in about six months or so when wages start to increase and some other issue/event comes along to take center stage.
That's why - almost two years out - it always pays to play the long game.
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ReplyDeleteAsdurr labor supply tightens (closer to full employment), labor price increases.
It's just a matter of time.
And the fact that corps have been sitting on cash for a long period of time suggests that they'll break sooner rather than later.
Did you see this story about Aetna yesterday?
DeleteThat's exactly what smart companies are going to start to do.
Thank you for that link. Fascinating story. I was not aware that some companies were actually concerned about turnover and attracting good people. Those benefits are obvious to most of us, but my impression has been companies have viewed employees as nothing more than debits on a balance sheet. I see this as good news! Thanks again.
DeleteI think this is likely true, but it will not stop the forward momentum concerning expanding worker ownership of businesses. The issue of wage increases has to transcend the fickle nature of finance capital's drive to accumulate more and more at the top. Across the boards, worker ownership - ESOPs with management input, cooperatives, and union coops - have been the MOST profitable entities in America and Europe. Why? They keep prices low since they don't have to pay off non-productive shareholders, can hold the line for themselves to sustain a business that would otherwise close, and can increase the individual well being as the first priority rather than abandon the real creators of wealth. For more information, see 1worker1vote.org This is the movement for which the time is NOW.
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