|
The idea that wage increases are always harmful for business ignores the fact that as workers earn more money, they also spend more money. Think of it as the "trickle up" effect.
Real wages have been declining in this country for decades now, an fact that is largely ignored by both political parties. We can never win in the global cheap wages game, nor should we desire to. Isn't one of the promises of the free market greater economic growth? Shouldn't some of this "new" money find it's way into the pockets of the middle and lower class?
|