- cross-posted to:
- politics@lemmy.world
- cross-posted to:
- politics@lemmy.world
[P]erhaps the voters are sensible and the economists are obtuse. And perhaps the indicators on which economists rely no longer mean what economists suppose them to mean.
[P]erhaps the voters are sensible and the economists are obtuse. And perhaps the indicators on which economists rely no longer mean what economists suppose them to mean.
So… things will get back to inequality again, as soon as all those people un-retrain themselves, un-retire, and come back to life?
I’m mean, I’m partly kidding; I actually do think people straight-up dying or becoming disabled had a big unrecognized impact in wage growth, yes. But also, supply chain inflation and companies that went bust during the pandemic and didn’t come back, put some weight on the scale on the other side.
Biden’s policies created 700,000 new manufacturing jobs so far. We raised corporate taxes significantly and then put hundreds of billions of dollars back into domestic industry in a way that was specifically designed to create jobs. It would be weird if the impact of that was 0.
Let me ask this – if your assertion is that wages rising is just a natural response after Covid killed all these people and made the market tighter (if I’ve understood you right) – why hasn’t it happened that way in any other first world country within the same time frame? Pretty much all of them except the US have seen wages falling (or, have seen inflation rising fast enough to overpower the slight rise in wage growth).