Sam Seder
Sam Seder
@TheMajorityReport·2M subscribers·30.1K videos

Is Inflation Is A Good Thing For Employee Wages?

Posted

February 13, 2022

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Is inflation actually good for employee wages? That's what one caller is asking. He contends that rising prices could force a backlash in labor and a push for higher wages.

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Caller: I wanted to ask specifically about inflation because. It's obviously going a bit crazy. well not crazy like the 1970s. but it's the highest we've had historically in the US and the UK. and I'm wondering if you think maybe it could be a good thing. because it would push employees to have to bargain for wages. and maybe this would kind of reignite that tendency from workers to bargain with employers. I mean in the UK I don't know if you've seen but the governor of the Bank of England went on an interview the other day to tell people don't bargain for higher wages, that's the solution to inflation. whereas he makes half a million pounds a year. Which is like seventy-seven hundred fifty thousand dollars. But yeah, just wondering with inflation, do you think that even if it would cut into people's standards of living and ultimately I'm in favor of material outcomes through politics just as much as you are, do you think that it could have a positive impact in creating some social conflict for lack of a better word?

Sam: well i can tell you this i mean he the just in terms of for as factual matter inflation has hit most countries around the world at least in the industrialized world. I think in the United States, depending on how you measure it maybe a little bit higher. but wages have gone up on the low end of the wage spectrum in this country by six or seven percent.

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