Download and customize hundreds of business templates for free
Small businesses can use insights from Paul Krugman's book to ensure fair wages for their employees by understanding the importance of worker bargaining power and the role of unions. They can also recognize the impact of wage stagnation and the need to adjust wages for inflation. Small businesses can strive to share the benefits of increased productivity with their workers, rather than allowing all the gains to go to the top. They can also advocate for policies that increase the federal minimum wage and strengthen worker protections.
Question was asked on:
Technology change is not new. What is new is that the benefits are not shared with workers. Until the 1970s, rising labor productivity resulted in rising wages for a great majority of workers. Then the connection was broken. This wage stagnation resulted from a reduction in worker bargaining power, mostly due to the decline of unions. Over 50 years, the federal minimum wage adjusted for inflation has fallen by more than 30%, even as worker productivity has risen by 150%. The discourse about automation causing inequality is just a diversion from the real causes that matter.
Asked on the following book summary:
“Zombie ideas” simply refuse to die despite mountains of evidence to disprove them. How do you fight them? Paul Krugman, Nobel Prize winner in Economi...
Download and customize hundreds of business templates for free
Dive into competitiveness data and take into account the dynamics of your venture’s financial, technological and market performance with our PEST Analysis framework deck. Examine political, economic, social, technological, environmental and legal factors that might influence your business and never be caught off guard.
How to respond to the current economic shifts of tariffs and geopolitical changes? Use this Macro Environment Analysis deck to examine the frameworks that help organizations remain cognizant of external factors, be prepared for challenges, and harness emerging opportunities.
How to express your gratitude for your team's hard work this year? Use our Team Appreciation deck to highlight big wins and give teammates the recognition and acknowledgment they deserve. Plus, measure employee engagement, diversity and inclusion efforts, and so much more.
How do you get from where you are now to where you want to be? Use our Gap Analysis presentation to assess and bridge the gap between your team's current and desired state. Incorporate your organization’s unique data and situations into these slides to turn improvement areas into attainable success.