25 Sep 2020 11:45 am
I agree with you that inequality is a major issue that needs to be addressed alongside doing something big regarding climate change. I think part of it is trade where global trade wars are really class wars. Major trade imbalances in the world over the last four decades have been driven by the suppression of wage growth, with income being redistributed from labor to capital. This leads to shortfalls in aggregate demand that countries try to offset by having trade surpluses.China and Germany are the main drivers in manufacturing where you have large surpluses in trade.
China keeps their currency low. Germany has very strong workers unions which protects workers wages, and even retrains workers who are not needed in one area paying them while they retrain.
https://news.bloombergtax.com/daily-tax ... ck-returns
1 Nomination
bludog Sep 24, 2020
Go to original post on Sep 24, 2020 8:47pm
China keeps their currency low. Germany has very strong workers unions which protects workers wages, and even retrains workers who are not needed in one area paying them while they retrain.
https://news.bloombergtax.com/daily-tax ... ck-returns
1 Nomination
bludog Sep 24, 2020
Go to original post on Sep 24, 2020 8:47pm