Kim Stanley Robinson, in "Fifty Degrees Below" - Kim Stanley Robinson

This quote was added by jeremy_le_jyby
Current economy defines 5.4% unemployment as optimum for desired "wage-pressure balance", treating labor (people) as a commodity and using a supply-demand pricing model. If government-insured full employment reduced "wage pressure", forcing a rise in the minimum wages from the private sector, this would help pull millions out of poverty, decrease their government dependance and social service costs, and inject and cycle their larger incomes back into the economy.

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teil0 10 years, 6 months ago
No, it definitely would not. Typical inability to think beyond the most immediate consequences of a policy, nor even how one would, as if by magic, implement such a solution in an economy that literally does not have the resources to implement such a policy.

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