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this post was submitted on 12 Aug 2024
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No, I'm saying people need to be paid a living wage to keep the social peace. You may externalize that responsibility from your enterprise, but someone is going to have to address the mismatch between wages and cost of living.
You want an economy that rewards the 10% best, that is good I guess...but the inevitable 90% of "losers" that are still essential for production will get out of your control if you keep punishing them and forcing them into a race they never win (particularly when the social elevator breaks and poverty becomes transgenerational)
Everything in "Cost of living" basket is delivered by the same economy that tends towards reduction of prices - assuming it's healthy competitive market. I believe that at least in case of US, housing market and Healthcare are particularly corrupted, which drags prices up.
I don't believe there are 90% of "losers" if you said bottom 10-20% earners in the society, I'd might agree - there's always some percentage of people who can't make the ends meet.