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MacroBusiness Access Subscriber Only Content at 12:10 am on February 10, 2021 | 2 comments For years, MB has campaigned for higher wages on the basis that it is what capitalism needs to survive. This position is based on sound economics, that is higher wages drive productivity gains, the longer-term input of rising living standards. And the understanding that unfettered capital chasing ever lower-wage jurisdictions is a race to the inequality bottom culminating in rising western populism. One of the most refreshing features of the swing to the American left embodied in the Biden administration is its plan to lift chronically low wages that haven’t grown at all in thirty years. This is given even greater urgency by the fallout from COVID-19, via BofA:

United statesArindrajit dubeBiden administrationHigher minimum wageSocial securityEarned income tax creditEmployment costsHigher minimumஒன்றுபட்டது மாநிலங்களில்அதிக குறைந்தபட்சம் ஊதியம்சமூக பாதுகாப்புசம்பாதித்தார் வருமானம் வரி கடன்வேலைவாய்ப்பு செலவுகள்அதிக குறைந்தபட்சம்