Yes, social wage is important. However, it doesn’t change the fact that even though wages have risen above $3 it is still stagnant and inequality is extremely high.
And secondly, in capitalist economies, higher income increases aggregate demand which can increase investments. In most third world countries, you see good demand for luxury goods, luxury cars from the top 5% yet very low demand for affordable cars, motorcycles etc because the bottom 95% have little purchasing power.
They’re using the old “teach a man to fish” bullshit argument, making me questions if they’re over the age of 50 because I hear that shit all the time from that age group. We aren’t given “freebies” at all in Guatemala. NO universal healthcare and a barebones welfare program. Our poverty rates have been pretty bad even for the region. If we’re getting free shit all the time then I’d love to know where I can get some.
Yes, social wage is important. However, it doesn’t change the fact that even though wages have risen above $3 it is still stagnant and inequality is extremely high.
And secondly, in capitalist economies, higher income increases aggregate demand which can increase investments. In most third world countries, you see good demand for luxury goods, luxury cars from the top 5% yet very low demand for affordable cars, motorcycles etc because the bottom 95% have little purchasing power.
https://ourworldindata.org/grapher/share-living-with-less-than-10-int--per-day?tab=line
Also, “freebies”, interesting term.
They’re using the old “teach a man to fish” bullshit argument, making me questions if they’re over the age of 50 because I hear that shit all the time from that age group. We aren’t given “freebies” at all in Guatemala. NO universal healthcare and a barebones welfare program. Our poverty rates have been pretty bad even for the region. If we’re getting free shit all the time then I’d love to know where I can get some.