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Friday, March 29, 2019

#Globalization Destroying Working Class #Incomes


"macroeconomic management has operated on the basis that any increase in wages is a danger signal requiring a tightening of fiscal and monetary policy". 

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Ultra low wage growth isn’t accidental. It is the intended outcome of government policies

The long debate over the causes of wage stagnation took an unexpected turn last week, when Finance Minister Matthias Cormann described (downward) flexibility in the rate of wage growth as “a deliberate design feature of our economic architecture”.
It was a position that was endorsed in a flurry of confusion 16 seconds after it had been rejected by Defence Industry Minister Linda Reynolds.

Cormann had said policies aimed at pushing wages up could cause “massive spikes in unemployment”.


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GROWING INCOME INEQUALITIES


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