Well it seems to me absolutely scandalous to try to set wage levels which wipe out jobs. I mean these are people who are not on the dole. They want to work and if you price them out of the market its gonna be a lot worse for them and for the economy.
Irwin Stelzer
» Irwin Stelzer - all quotes »
Jon Ralston: So you're saying if people lose their jobs through no fault of their own, as many have during this recession, Sharron Angle's solution is to cut their unemployment benefits so low so they're somehow gonna go out and find jobs that don't exist? How does that make any sense?
Sharron Angle: There are jobs that do exist. That's what we're saying, is that there are jobs. But those are entry-level jobs.Sharron Angle
Those who advocate devaluation are calling for a reduction in the wage levels and the real wage standards of every member of the working class.
James Callaghan
The wage system has made people believe that what a man needs is work. This, of course, is absurd. What he needs is the goods produced by work, and the less work involved in making a given amount of goods, the better. But owing to our economic system, every economy in methods of production enables employers to dismiss some of their employees, and to cause destitution, where a better system would produce only an increase of wages or a diminution in the hours of work without any corresponding diminution of wages.
Bertrand Russell
There’s no denying that a collapse in stock prices today would pose serious macroeconomic challenges for the United States. Consumer spending would slow, and the U.S. economy would become less of a magnet for foreign investors. Economic growth, which in any case has recently been at unsustainable levels, would decline somewhat. History proves, however, that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.
Ben Bernanke
Stelzer, Irwin
Stendhal
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