Economics for Dummies: Why higher wages are GOOD for the economy

In a nutshell, this is it:


Of course, you can never overestimate the power of Stoopid in capitalist economies. That’s why you’ll find people working not two, but three or even four jobs and still being unable to make ends meet. They’re not the stupid ones for taking those jobs; their employers are, for cheaping out and banking on a high employee turnover rate commensurate with job-seekers’ desperation. They won’t end up with more loyal customers, only disgruntled ex-employees.

Whenever I was fired without cause or forced to quit (yes, that happens!), I never went back to buy from that particular place. I’d diligently put in hours and loyalty and, in return, got paid poorly and treated like shit. Creativity was never rewarded in those places; even conformity was no guarantee of anything. You could do your job to the letter and still lose it the next day to a gum-snapping kid who’d do it poorly, but who would no doubt do it for less. The quality of the goods was just as terrible as was working there. And at least one of those businesses is now OUT of business.

I’m sure all of that is no coincidence.

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