On Fri, Jul 3, 2015 at 3:35 AM, nathan tankus <[email protected] > wrote:
> "Germany has also created a large low-wage labor market over the last 15 or so > years - led by the Social Democrats. They've kept a lid on wages while > productivity has risen sharply. They're looking to preserve that." > > > It should be noted that this isn't simply through restraining wages directly. > it's also through restraining costs that would force up wages or negatively > impact productivity. Basically garment industry run economic policy ala > Tammany hall. Germany aggressively restrains rises of rents and property > values for example. > > Isn't that basically what a well-managed socialist economy is supposed to do? Wage suppression by itself is a bad thing, but if it can be combined with suppression of profits, interest rates, rents and living costs and a decent safety net, this makes for a stable and prosperous standard of living, yes? The real problem with Germany is not that they are cruelly exploiting their own workers, but that they are bankrupting Greeks and the other PIGS to keep Germans prosperous. Am I missing something here? -raghu.
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