President Biden’s approach is one that many trades unionists may not have even dared to hope for,
This, combined with news about a surgin in capital investment to boost productivity, is starting to make it look like all of the Keynesian christmases have come at once,
“Let me tell you something. My sole measure of economic success is how working families are doing, whether they have jobs that deliver dignity. That means we have to focus on wages like we used to.
When it comes to the economy we’re building, rising wages aren’t a bug; they’re a feature. We want to get — we want to get something economists call “full employment.” Instead of workers competing with each other for jobs that are scarce, we want employees to compete with each other to attract work. We want the — the companies to compete to attract workers.
That kind of competition in the market doesn’t just give workers more ability to earn a higher wage, it gives them the power to demand to be treated with dignity and respect in the workplace. And it helps ensure that America — when you walk into work, you don’t have to check your right to be treated with respect at the door.”
And on the question of investment…
And The Economist keeps the theme going in the next editorial pic.twitter.com/WALdGFWRWq
— Giles Wilkes (@Gilesyb) May 28, 2021