Quote:
Originally Posted by ntluser
The problem is that in order to generate growth you need to have lots of workers.
Unfortunately,firms cannot afford to employ enough workers firstly because workers cost too much and secondly because managers have been overpaid disproportionately since 1997 at least.
The result is that though workers are better paid there are fewer of them and they have to work a lot harder to maintain output and growth.
What we need to is to redress the pay balance so that outgoings are reduced and wealth is more equally distributed thereby allowing firms to employ the maximum number of workers it can afford on a reasonable wage and reduce the workload on each worker to a less stressful but more productive level.
Having high wages is not much good if you also have high prices and a stressful work-style to go with it.
Given the state of our overpriced economy and the various black holes in government funds especially pensions, we as a nation need to be looking at ways to make the cost of government, industry and commerce a lot less.
China got all the work by having the cheapest costs. Workers need to realize that it is better to be paid a moderate wage and have a job than to demand a higher wage and have no job. Even the banks are getting rid of staff now, all in pursuit of profits.
Unemployment will continue to rise because as costs rise fewer workers can be employed and currently there is no cohesive plan involving government, employers, unions and workers to drive down costs in a systematic manner which also protects the most vulnerable in society.
What we need from government and the heads of industry and commerce is leadership by example but sadly this has been lacking.Before long, there will be insufficient people working and then the leaders will not be able to pay themselves the big salaries, pensions and bonuses they do at present because the money will just not be there. Worse, all the unemployed will be looking round for someone to blame and we all know where the fingers will be pointed.
It's time for some action now before it is too late.
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You make some goods points, but we need to instead set up global labour and wages standards and stronger unions, we should also crackdown on tax evasion and ad voidance both past and present. We might have to also increase taxes or create new ones, we need to reorganise the economy so that businesses have monopolies and are either state owned or comparatives, we also need to increase government spend and for them to invest into the economy, they also need to set up a development bank; we also need to have radical reforms of our political, economic and social system and we need a global government that will be prepaired to do what is right for its people and that’s just the start