The Case for Lower Wages
"With nearly one fifth of workers unemployed or under-employed, the best way to save jobs and boost productivity in the short term is for workers to accept lower wages."
"In economics, prices fall with demand. Demand is down. The price for work—wages—should be down, too. But wages have a tendency to flat-line, not fall, in recessions. Workers refuse to work at lower pay and employers are afraid to lose good workers by demanding pay cuts. So instead of falling wages, you get falling employment." Some have suggested trying new wage structures such as: "Hiring more part-time workers, off-shoring more jobs, and adding cheap positions. We haven't tried 'job-sharing,' the German plan where government and employers split the check for workers to keep more people in their old jobs even when demand for their product falls."
Upvote/downvote each of the videos below!
A new method promises to capture an elusive dark world particle.
- Dark matter is estimated to take up 26.8% of all matter in the Universe.
- The researchers will be able to try their approach in 2021, when the LHC goes back online.
- The research raises many ethical questions and puts to the test our current understanding of death.
What's dead may never die, it seems
An ethical gray matter
The dilemma is unprecedented.
Setting new boundaries
- As a stand-up comedian, Pete Holmes knows how words can manipulate audiences — for good and bad.
- Holmes has a clever linguistic exercise meant to bring you closer to the people around you.
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.