A Quote by Joseph Stiglitz
The striking thing about America is - it's historically, extraordinary unusual, I don't of any other instance - is that productivity of workers and wages have not moved in tandem.
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Higher productivity enables companies to increase sales without adding workers. Even if job markets tighten and wages rise, corporate profits can continue to climb as long as worker productivity is growing faster than overall wages.
In restaurants across America we see Latino workers in the kitchen who are being paid substandard wages. The saddest thing to me is that if we think about these workers, these are the people with the least access to good food. Yet they're often suffering from the highest rates of obesity and diet-related illnesses.
When illegal labor is used, that almost always depresses wages paid to all workers. The illegal workers can be exploited, and they will usually accept lower wages. As a result, all workers in the plant, including U.S. citizens, will see their wages go down.
America's growth historically has been fueled mostly by investment, education, productivity, innovation and immigration. The one thing that doesn't seem to have anything to do with America's growth rate is a brutal work schedule.
In January 2012, Caterpillar locked out union workers at a locomotive factory in Ontario after they rejected a pay cut of about 50 percent; the company shuttered the plant and moved production to Muncie, Ind., where workers accepted lower wages.
Workers' wages are not keeping up with inflation. Their wages are not on pace with the amount of work that they do. We work harder and longer in America and still people's wages are not keeping up with that.
In my Inaugural I laid down the simple proposition that nobody is going to starve in this country. It seems to me to be equally plain that no business which depends for existence on paying less than living wages to its workers has any right to continue in this country. By "business" I mean the whole of commerce as well as the whole of industry; by workers I mean all workers, the white collar class as well as the men in overalls; and by living wages I mean more than a bare subsistence level - I mean the wages of decent living.
During the 1960s, rising real wages for low-income and high-income workers, due in part to rapid economic growth and the spread of unionization, worked in tandem with expanding government support systems to improve Americans' well-being.
No business which depends for existence on paying less than living wages to its workers has any right to continue in this country... By living wages I mean more than a bare subsistence level - I mean the wages of decent living.
My Heart and Other Black Holes is alive with intensity, gut-wrenching honesty, moments of humor, and -- of course -- heart. This is an extraordinary debut by a striking new voice in YA fiction that left me in awe and moved beyond measure. Not to be missed.
One of the things that is most striking about the young generation is that they never talk about their own futures, there are no futures for this generation, not any of them and so naturally they never think of them. It is very striking, they do not live in the present they just live, as well as they can, and they do not plan. It is extraordinary that whole populations have no projects for a future, none at all.
All the laws made for the betterment of workers' lives have their origin with the workers. Hours are shortened,wages go up, conditions are better----only if the workers protest
It is not the actual greatness of national wealth, but its continual increase, which occasions a rise in the wages of labour. It is not, accordingly, in the richest countries, but in the most thriving, or in those which are growing rich the fastest, that the wages of labour are highest. England is certainly, in the present times, a much richer country than any part of North America. The wages of labour, however, are much higher in North America than in any part of England.
The internal and external ethics of an organization must be the same; you cannot talk about minimum wages for poor people and not pay minimum wages to your own workers.
Sharp increases in the minimum wage rate are also inflationary. Frequently workers paid more than the minimum gauge their wages relative to it. This is especially true of those workers who are paid by the hour. An increase in the minimum therefore increases their demands for higher wages in order to maintain their place in the structure of wages. And when the increase is as sharp as it is in H.R. 7935, the result is sure to be a fresh surge of inflation.
Many of my students assume that government protection is the only thing ensuring decent wages for most American workers. But basic economics shows that competition between employers for workers can be very effective at preventing businesses from misbehaving.
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