Been reading into this lately. Capitalism fails? What is others thoughts on this? Why does capitalism work (if you think it does?)
Not sure how it is in other countries but IMO they NEED to CUT the full time working hours from 39 to 30 hours a week but NOT cut the wages the workers get. This will encourage these companies making millions to hire MORE staff lowering the unemployment rate and getting more people into work.
39 hours @ $6.15 = $239.85
30 hours to get $239.85 = $8
When you look at the top 500 fortunes rich list for profitable businesses in 2012, it is abysmal that 50 companies earnt over $3,804,000,000 whilst staff for these companies earnt less than minimum wage.
Thoughts