Ricardo’s rule of rent.
In absense of land equality, or marginal land to escape to, rent will tend to push wages closer and closer to subsistance.
Comment on I'm not asking to be rich.
Tygr@lemmy.world 7 months ago
Not to worry, the goal post on “fair wage” will always be extended. I remember fast food protests for $15/hr. You got it! Only now rent has doubled.
Ummdustry@sh.itjust.works 7 months ago
MisterD@lemmy.ca 7 months ago
To be on par with the wages of the 70-80s, minimum wage should be $30+/hour. You still can’t retire on that, btw.