Doing the Minimum | No Mercy / No Malice
raising the minimum wage, expanding early childhood education, capping executive pay, strengthening unions, and increasing paid parental leave.
Keith Payne • The Broken Ladder: How Inequality Changes the Way We Think, Live and Die
Forty-five percent should be work. To be slightly hyperbolic, the alarming wealth inequality statistics are an indication of vast skill differences in people’s ability to create value; most of us are producing infinitesimal amounts of value for the world. If we truly care about being productive—creating wealth in the world—we need to figure out how... See more
When unemployment is low, that means the supply of labor is low relative to the demand, and so the price of labor—wages—will tend to rise.
Scott Galloway • The Algebra of Wealth: A Simple Formula for Success
Obviously, we need to make sure that people are well-compensated for their labor, that they’re able to put food on the table, a roof over their heads, an education in their brains, and that they can pay their medical bills without fear of bankruptcy.But a person’s labor can’t grow exponentially, it can’t possibly keep up with exponential growth, so... See more
Packy McCormick • Ownership and the American Dream
THE END OF RAISES Three years after Milton Friedman’s New York Times essay put financial maximization into the bloodstream, a strange thing happened. People stopped getting raises.
Yancey Strickler • This Could Be Our Future: A Manifesto for a More Generous World
The institute observes that the average American worker grew 72 percent more productive between 1973 and 2014, but the median worker’s pay rose only about 9 percent in this time. In short, America doesn’t have a problem of lagging productivity so much as a problem of the gains from productivity being captured by elites. The increasingly extractive
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