A Quote by W. Edwards Deming
Declining productivity and quality means your unit production costs stay high but you don't have as much to sell. Your workers don't want to be paid less, so to maintain profits, you increase your prices. That's inflation.
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The only way to create prosperity is to do more with less. In economic terms, an increase in productivity is an increase in the amount or quality of output generated for each unit of input. Jobs do not make society wealthier - productivity does.
Nothing disturbs me more than the downward trend of productivity in our nation today. The consequences of a decrease in productivity are a diminished standard of living, higher labor costs, less competitive prices, and more inflation.
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.
If you're a poor worker - this is for new workers coming into the workplace - your benefits will increase at the current rate of increase. If you're a wealthier worker, your benefits would increase at the rate of inflation. And those changes would affect positively the unfunded liabilities inherent in Social Security.
In industries where a lot of competitors are selling the same product - mangoes, gasoline, DVD players - price is the easiest way to distinguish yourself. The hope is that if you cut prices enough you can increase your market share, and even your profits. But this works only if your competitors won't, or can't, follow suit.
What you quickly realize once you commit to getting more sleep is it can increase your productivity, it can improve your mood. And that doesn't just help you at work, but it helps you be the kind of person you want to be with your family and your friends and that's ultimately what matters most.
To expect to increase prices and then to maintain them at a higher level by means of a plan which must of necessity increase production while decreasing consumption is to fly in the face of an economic law as well established as any law of nature.
Products, profits, and paychecks are not enough anymore. These days, society cares how you treat your own workers. Customers want to know you promote the same values inside your walls as you do outside; job hunters want to know you care about them before they send in an application. Your culture is your brand. You need to create an organization where your employees believe in what you do.
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.
You cannot increase the quality or quantity of your achievement or performance except to the degree in which you increase your ability to use your time effectively.
Inflation, especially a slow steady rise in prices, encourages producers, because it means that they can commit themselves to costs of production on one price level and then, later, offer the finished product for sale at a somewhat higher price level. This situation encourages production because it gives confidence of an almost certain profit margin.
Growth is the mantra of our society because the economy can't remain healthy without growth.Impregnable monopolies aside (and these are few), profits are both the hallmark of capitalism and its Achilles heel, for no business can permanently maintain its prices much above its costs. There is only one way in which profits can be perpetuated; a business-or an entire economy-must grow.
Businesses just want to increase their profits; it's up to the government to make sure they distribute enough of those profits so workers have the money to buy the goods they produce. It's no mystery - the less poverty, the more commerce. The most important investment we can make is in human resources.
There is no such thing as agflation. Rising commodity prices, or increases in any prices, do not cause inflation. Inflation is what causes prices to rise. Of course, in market economies, prices for individual goods and services rise and fall based on changes in supply and demand, but it is only through inflation that prices rise in aggregate.
There are two ways to increase your wealth. Increase your means or decrease your wants. The best is to do both at the same time.
Greed is not defined by what something costs; it is measured by what it costs you. If anything costs you your faith or your family, the price is too high. Such is the point Jesus makes in the parable of the portfolio.
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