Tuesday, May 22, 2012
Firms here to raise wages
Pay rise is only meaningful when businesses do not have sufficient pricing power. Since we have locked in inflation expectation, businesses are not shy, even confident to raise prices. Of course businesses will join the herd to up pay. It will not cost them more. Workers must go out and spend their raise quickly or discover that prices have caught up.
We have no guts or ideas to restructure our economy. It could very well be that our timidity limits the ideas that we would entertain. I know we have no guts when we are afraid to eat our lunch to make a better one. I know we have no courage when leaders say the issues are complex. All these become even clearer when I read Issacson's biography of Steve Jobs.
Posted by PengYou at 10:01 AM