US labor needs organizing and unions to push wages up faster, there is no other way to push up wages faster to reach wage-price affordability. Companies will do whatever possible to constrain labor costs. Price levels will not decline without a depression level macroeconomic event. Derived from first principles.
> We need years of income and wages rising faster than prices to undo the damage done during the pandemic. It’s more than restoring the ability to pay—the level of real compensation is already above pre-pandemic levels. It’s about improvements large enough to inspire confidence. It’s about consistency, too. The pandemic set off a series of shocks that destabilized people’s daily lives and the global economy. The challenge for policymakers now is to support stable, sustainable growth. No quick fixes or gimmicks. We need “some years” of good policy.
toomuchtodo•1mo ago
> We need years of income and wages rising faster than prices to undo the damage done during the pandemic. It’s more than restoring the ability to pay—the level of real compensation is already above pre-pandemic levels. It’s about improvements large enough to inspire confidence. It’s about consistency, too. The pandemic set off a series of shocks that destabilized people’s daily lives and the global economy. The challenge for policymakers now is to support stable, sustainable growth. No quick fixes or gimmicks. We need “some years” of good policy.