According to our economic mission statements, a business that profits more still wants to pay less. The goal statement is to maximize profits of shareholders. It’s not to increase profits but maximize profits. Maximize means lowering wages.
The problem is our system failed and our elites are debating the best way to cover it up. Do you blame it on racism or do you suggest eventually everything will trickle down from the top to the bottom?
The reason we’re having a “great resignation” is that people are figuring out that trickle down economics don’t work. You’re loyal to employers who only want to lower your wages and fire you as soon as it’s convenient. Might as well quit instead of get fired, drive cars that are registered to dead people and not buy houses.
The problem is that America has created an economy where there’s nothing in it for anyone except the people who own the businesses. The people who set the economic policies never asked the question “what is in this for the average person? what do they get out of it?”
They’re trying to cover it up like it’s a white supremacist power structure to distract people from the fact that our system doesn’t work and won’t work even if it racially realigns. Democrats basically think they can blackwash the problem away while Republicans openly defend things as they are.
The job market improved in the 1980s only because policy doesn’t have an immediate effect. It takes a while to erode the middle class.
Believing that policy works immediately is what leads some people to wrongly conclude that trickle down economics worked.