Higher nationwide wages and/or a living wage can create a recession-proof economy.. [View all]
by putting money in everyone's pocket.
It's why countries like Sweden, Norway, Finland etc don't feel the effects of global recessions.
Meanwhile the chest-thumping USA has nearly collapsed multiple times since the Great Depression, requiring massive government bail-outs to save capitalism from itself. It happened again in 2007-08. In 2020, Covid brought on a new kind of near-collapse. I still see vacant, boarded up businesses everywhere I look. Casualties of a global pandemic. Govt stimulus helped our nation survive by putting money in peoples pockets with unemployment benefits and stimulus checks. Vaccines will set us free.
Recessions happen when the poorest 90% of a population goes broke, from low wages to lay-offs.
Keeping 90% of our population poor has us wandering straight forward toward the next recession, the next housing collapse, the next banking crisis.
This cycle will only continue to repeat itself until we open our eyes and push our country to raise wages.
Living wages can act like a brick wall to the next incoming recession.
As long as humans have a need to eat, have a roof over our heads, need clothing, transportation, clean water, sewage and sanitation services etc, we will always have the basis of a strong economy
IF WE WOULD ONLY PAY OUR WORKERS A LIVING WAGE.
Its that fucking simple.
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