Please stop seeing this as some “unions are hurting us all” lens - this is bigger.
The biggest and most important global economic act was during Covid worldwide governments printed trillions with a T of dollars, euros and yens which ended up in the pockets of those with wealth.
And the end result is that there is trillions more money hanging around trying to buy the same amount of goods / real estate / labour. That’s inflation and it has been mega high - I mean since 2018 UK CPI has been nearly 40% - and I have basically had a 40% pay cut
So has everyone.
And unions are doing the right thing - giving their members a fair share of the increased amount of dollars
Finally MMT suggests of course what governments should do is tax back the increased trillions but without that point of view there is just a lot of pain in the system
The biggest and most important global economic act was during Covid worldwide governments printed trillions with a T of dollars, euros and yens which ended up in the pockets of those with wealth.
And the end result is that there is trillions more money hanging around trying to buy the same amount of goods / real estate / labour. That’s inflation and it has been mega high - I mean since 2018 UK CPI has been nearly 40% - and I have basically had a 40% pay cut
So has everyone.
And unions are doing the right thing - giving their members a fair share of the increased amount of dollars
Finally MMT suggests of course what governments should do is tax back the increased trillions but without that point of view there is just a lot of pain in the system
Edit: clarity