Comment on McDonald’s CEO is grappling with a ‘two-tier economy’ as he slashes prices on value meals—and signals backing for a minimum wage increase

kelpie_returns@lemmy.world ⁨1⁩ ⁨year⁩ ago

• rocket_dragon@lemmy.dbzer0.com ⁨1⁩ ⁨year⁩ ago

  This reads like the wealthy realizing, in real-time, that the poor can’t spend money they don’t have, more than anything else.

  If only someone warned them about this!

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  • TheLeadenSea@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

    Yeah, that’s like, the most classic of Marxism

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    • Revan343@lemmy.ca ⁨1⁩ ⁨year⁩ ago

      Pretty sure Adam Smith and Karl Marx both understood that one

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      • InternetCitizen2@lemmy.world ⁨1⁩ ⁨year⁩ ago

        Image

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      • PapaStevesy@lemmy.world ⁨1⁩ ⁨year⁩ ago

        Even Henry fucking Ford understood that

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      • SabinStargem@lemmy.today ⁨1⁩ ⁨year⁩ ago

        I think a lot of capitalists would believe the two to be mortal enemies. I suspect that they would enjoy debating their ideas over a cup of joe and tea.

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    • gloktawasright@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Gone are the days of well educated elites. Now we have the scourge that is the putrified remains of ruling class’s shit.

      Enlightened self interest? How about unchecked greed and moral bankruptcy instead?

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• Cethin@lemmy.zip ⁨1⁩ ⁨year⁩ ago

  Yeah, Ford was horrible, but that’s one thing that’s reasonable about Fordism. He knew that if he payed his employees well enough then they’d have money to spend. I don’t know how the idiots who are wealthy today don’t get that, but they assume their wealth is infinite and comes from nothing.

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  • SoftestSapphic@lemmy.world ⁨1⁩ ⁨year⁩ ago

    Seriously, this is Economics 101 shit and everyone in a position of power just pretends it doesn’t apply for some dumb ass excuse.

    The more money people have, the more they will spend.

    The more money spent in an economy, the more things are bought, the more opportunities for others to start businesses and make profit present themselves.

    The system works better for everyone when money keeps circulating. That’s why UBI is becoming a popular solution to this problem.

    The majority of money is stagnant in the US.

    It has been siphoned from the working class and is currently kept in the assets of the rich.

    And it needs to be redistributed for the system to work well again.

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    • goatmeal@midwest.social ⁨1⁩ ⁨year⁩ ago

      It’s like the prisoners dilemma. We were top left. Some companies thought they could pay less and still reap the benefits of other employers paying well, now everyone does that we’re bottom right

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• DrFistington@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Hey let’s spend 20 million to market a ‘deal’ that will actually end up making us $100 million due to the increase in patronage. Remember, we can’t survive as a company if we don’t double shareholder earnings every fucking year in perpetuity

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