What if I told you that someone in the 1980s was making more money doing your job?
We hear all the time that the middle class is shrinking. What does that mean? Watch this two minute video from Robert Reich for a summary (disclaimer, that video is sponsored by Moveon.org, liberal hippie etc etc), but let me lay some MBA knowledge on you.
Our economy is the largest in the world, meaning American commerce generates more money than any other country. We could match every state with an entire country that produces the same amount of dollars. Our economy produces 14.12 trillion dollars. Economists will argue until they are blue in the face, but the bottom line is that we became over inflated, and when companies began to figure out how to do the same amount of business with less labor, and layoffs began.
Companies aren't really not making money. CEO's could technically stop making tens of millions of dollars and hire people. But, why would you if you don't have to? Maybe some of us would be willing, but I doubt any company would hire people just because they feel guilty that unemployment is high.
But, if we as consumers can support small business, they have room to grow. Small business is not focused on efficiency or cutting costs, they are focused on market share, differentiation and sales.
It is easy to be disgusted by wall street bankers and CEO's but we have to remember that they wouldn't have that money if we didn't give it to them. Let's take control of our economy and support the underdogs!
We hear all the time that the middle class is shrinking. What does that mean? Watch this two minute video from Robert Reich for a summary (disclaimer, that video is sponsored by Moveon.org, liberal hippie etc etc), but let me lay some MBA knowledge on you.
Our economy is the largest in the world, meaning American commerce generates more money than any other country. We could match every state with an entire country that produces the same amount of dollars. Our economy produces 14.12 trillion dollars. Economists will argue until they are blue in the face, but the bottom line is that we became over inflated, and when companies began to figure out how to do the same amount of business with less labor, and layoffs began.
Companies aren't really not making money. CEO's could technically stop making tens of millions of dollars and hire people. But, why would you if you don't have to? Maybe some of us would be willing, but I doubt any company would hire people just because they feel guilty that unemployment is high.
But, if we as consumers can support small business, they have room to grow. Small business is not focused on efficiency or cutting costs, they are focused on market share, differentiation and sales.
It is easy to be disgusted by wall street bankers and CEO's but we have to remember that they wouldn't have that money if we didn't give it to them. Let's take control of our economy and support the underdogs!
Those are some great points. I like at the end when you said for us not to give our money to them. I have been saying that forever about Hollywood. People complain about the whole house of cards but if they would just stop supporting it with their dollar the whole thing would collapse tomorrow.
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