Some good points here. Some more thoughts: the salaries cited are not those of the poorest workers, query how much choice they will have about returning to work. Which is connected to another point: the generosity of welfare.
https://www.bloomberg.com/opinion/articles/2020-04-15/coronavirus-returning-to-business-is-going-to-take-a-pay-raise … via @bopinion
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Employers could tempt workers to work with higher pay, but this seems unlikely in a downturn. They could also lean on government to give less generous payouts. The private sector is often presented as relieving the state of the burden of unemployment benefits: the company will
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pay the worker so that the government doesn't have to subsidise the citizen. But it also works the other way. The lower the welfare payments the more workers are forced into terrible jobs.
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Another point on what is triggering the need to go back to work. The article mentions an earnings crash. The question should be: so what?
@universal_owner correct me if I'm wrong but if we long-term, locked in investors then this wouldn't matter.1 reply 0 retweets 0 likesShow this thread
Not only do investors overvalue current earnings, they undervalue resiliency.
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