Low Wages and High Unemployment Rate – Where to Go from Here? – Part 2

I ended my previous blog with the following paragraph: “We’ve gotten so used to seeing Income as a function of Labor that we forget the real meaning of income as that which – if adequate – enables a person to live a dignified life. Allowing Income to remain a function of Labor alone is in fact...

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Low Wages and High Unemployment Rate – Where to Go from Here?

Many are familiar with the following proposition: “If wages are increased, then the cost of labor increases for employers. To reduce costs, employers will not hire as many employees and unemployment will increase.” It seems to make sense, right? It comes down to the fundamental relationship between...

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