Ok. Bankers first.
When I was taught about the ‘wage-price spiral’ at school, I asked the teacher why it wasn’t called the ‘price-wage spiral’, because at home my parents only ever talked about the need for higher wages when prices went up, and the teacher said: “Because your books about it weren’t written by the unions, but by industry.”
“Some combination of moderation in pay pressures and firms’ margins will be required for services inflation to return to more normal rates,” she said.
Let’s only talk about the wages and not the margins, right? And of course do not at all talk about big business and extremely rich people not paying taxes on the money their workers have made while not getting paid properly.
I bet that book also unironically mentioned the Invisible Hand of the Market™
German finance minister noises intensify
To me it sounded like tax dodging and corruption. Could have fooled me, sneaky bugger.
Ha ha ha ha ha nice one aye, fire away mate, knock yersels oot
The cheek of these motherfuckers
Some of you may die, but it’s a sacrifice I’m willing to make
G u i l l o t i n e s
Maybe we could save some money by getting rid of the monarchy once and for all?
Yep, a sensational savings of 1.29 pounds / year for every people in UK…
It is not unrealistic, that there will be a new King in the next few years. Maybe enough people become sick of the concept by then.
This could only work if inflation were driven by wages.
If the UK is anything like the rest of the world right now, then that is not the cause. Supply shortages are.So they would have to either:
A) accept inflation and INCREASE wages to compensate for higher costs of living, or
B) increase production and thereby supply to reduce scarcity induced prices.(possibly also C) be a member of a large free trade zone that makes importing cheaper but that ship has sailed for now)
Wouldn’t increasing wages improve production by decreasing turnover?
Depends.
IF only some companies increase wages then they can probably reduce turnover. Though that might cause more turnover in other companies that don’t increase wages.
If wages rise through the board and the better paying companies before remain the better paying companies after then that probably has little effect.I suppose higher overall wages could reduce the pressure to look for a better paying job because your current one doesn’t cover costs of living.
Apologies but due to record profits we don’t have any money left for raises this year!
