Largest gap ever in wealth distribution. AI at the door.
I don’t see a future for our government without serious income distribution measures.
AlanYx on
The biggest news here is that real wages in the lowest quintile of income earners are *falling*. I don’t think this has happened since the 1981-83 recession, the early 90s recession, and briefly in the midst of COVID (real after-tax incomes have fallen in other instances of course).
It’s a major deal. It’s not completely unexpected, since declining real GDP per capita must eventually lead to declining real wages for at least some subset of earners, regardless of what wage redistribution scheme the government chooses.
The potential for social unrest is huge, as well is a likely social pushback against increasing the number of workers at the lower end of the wage spectrum via immigration.
be_reasonable_09 on
Trudeau govt was too focused on income distribution that they failed on wealth creation. Govt should focus on getting red tapes cut so we can have cheaper houses, cheaper rents, more mines get built so we can have good paying jobs. Incentivize to build data centres which will power AI and those jobs pay well. Build pipelines so we can be independent from US and generate good paying jobs on the way.
Buck-Nasty on
I wonder if the suppression of low-wage workers wages has anything to do with the largest increase in low-wage workers in Canadian history? Nah, couldn’t be.
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Largest gap ever in wealth distribution. AI at the door.
I don’t see a future for our government without serious income distribution measures.
The biggest news here is that real wages in the lowest quintile of income earners are *falling*. I don’t think this has happened since the 1981-83 recession, the early 90s recession, and briefly in the midst of COVID (real after-tax incomes have fallen in other instances of course).
It’s a major deal. It’s not completely unexpected, since declining real GDP per capita must eventually lead to declining real wages for at least some subset of earners, regardless of what wage redistribution scheme the government chooses.
The potential for social unrest is huge, as well is a likely social pushback against increasing the number of workers at the lower end of the wage spectrum via immigration.
Trudeau govt was too focused on income distribution that they failed on wealth creation. Govt should focus on getting red tapes cut so we can have cheaper houses, cheaper rents, more mines get built so we can have good paying jobs. Incentivize to build data centres which will power AI and those jobs pay well. Build pipelines so we can be independent from US and generate good paying jobs on the way.
I wonder if the suppression of low-wage workers wages has anything to do with the largest increase in low-wage workers in Canadian history? Nah, couldn’t be.