Yesterday’s market plunge is extremely important to understand from a class, race and gender perspective, and here’s why:
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Analysts said the market tanked on “fears of rising wages.” In our current system, rising wages indicate inflation, so the Fed pulls back and raised rates to cool the economy....
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that’s so important because it would allow wages to grow without causing the market to tank and would push us toward full employment. At full employment bosses cannot indulge their racism and sexism because they need the worker more than the worker needs them. And wages rise.
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All true but looking just at one month of data is insufficient There are cycles during year where wages appear to be going up. EX. Annual adjustments, New union agreements etc. so one month is very unstable to go on. So we need to wait and see
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Have wages been rising like they should? It doesn’t seem like it. It’s been a fight for states to increase minimum wages so they meet a living wage.
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Aren't rising wages code for lower profits?
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Please write this whole article . Economic theory as it pertains to race and gender is super interesting but very hard to understand. Use pictures
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