The TUC has published a map showing the loss in average earnings by UK employees since the Global Financial Crisis of 2008.
Britain needs a pay rise and that’s not on every party’s agenda at the forthcoming election. It should be. But some prefer exploiting labour to rewarding it. That’s an unacceptable choice that has gone on for too long.
So, what is a recession? It’s when people start firing people as they realise the cost of employing them is higher than the revenue from employing them.
So, what ‘s the solution to a recession? To lower real wages.
Look, it’s even in Keynes for God’s Sake.