Fair Economics? Nah, Just Ask My High School Teacher!
Today, we’re diving into a wild ride through the ups and downs of worker wages, and let me tell you, it’s a real head-scratcher! Did you know that during the pandemic, the lowest-paid workers actually saw their wages jump by 7%? Yup, you heard that right—dishwashers were raking in more dough than software developers. It’s all about that classic supply and demand, folks! But hold onto your hats, because just as quickly as those raises came, everything flipped again, and now it seems our hardworking friends are feeling the pinch once more. Join me as we unpack this rollercoaster of economic twists and turns, and explore what it really means for the everyday worker. Don’t forget to bring your sense of humor—because we might just need it!
Picture this: during the pandemic, something wild happened in the job market—workers at the bottom rung of the ladder got a serious pay bump! Yup, you heard it right. Our buddy James A. Brown dives into a chart from the Financial Times that paints a curious picture of wage dynamics. It turns out that dishwashers were raking in bigger raises than those high-flying software developers. Crazy, right? This episode is all about that whirlwind of change where low-wage workers suddenly found themselves in the driver's seat, demanding better pay and actually getting it. It was a moment where the tides turned, and fast food joints were tossing out $20 an hour like confetti, just to lure in some help. But hold onto your hats, because as fast as that change came, it flipped right back again! James uses this rollercoaster to remind us that in the world of economics, fair play is about as common as a unicorn. He leaves us with a thought-provoking question: is that really how it should be? Let’s chat about it on his website, or just ponder it over your morning coffee!
Takeaways:
- During the pandemic, the lowest-paid workers saw their wages rise by a whopping 7%, which is a big deal!
- In a surprising twist, dishwashers received bigger pay raises than software developers, proving that every job counts!
- For a brief shining moment, workers had the upper hand, and fast food joints had to pay up to 20 bucks an hour!
- The economic rollercoaster has flipped again, leaving poor workers trailing behind once more, which is just brutal!
- An old teacher once reminded me that fair economics is a myth, and boy, isn't that the truth!
- If you want to dive deeper into this discussion, hit me up at jamesabrown.net and share your thoughts!
Links referenced in this episode:
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Transcript
This is the Daily Note.
Speaker A:I'm James A.
Speaker A:Brown.
Speaker A:A chart from the Financial Times shows something remarkable.
Speaker A:During the pandemic, the poorest workers finally caught up.
Speaker A:Their pay jumped 7%.
Speaker A:Dishwashers got bigger raises than software developers.
Speaker A:It's supply and demand now.
Speaker A:That's over poor workers.
Speaker A:Wages crashed.
Speaker A:For a moment, workers had power.
Speaker A:Nobody wanted to work for 10 bucks anymore.
Speaker A:So fast food paid 20 and begged for help.
Speaker A:Then everything reversed.
Speaker A:Fast, brutal and expected.
Speaker A:Which means poor workers are falling behind again.
Speaker A:It reminds me of something an old teacher once said in high school.
Speaker A:There's no such thing as fair economics.
Speaker A:So what do you think?
Speaker A:Let me know on jamesabrown.net or on that note.
Speaker A:I'm James A.
Speaker A:Brown, and as always, be well.
