The grievances of the working class are justified. Since the 1970s, many blue-collar workers have been trapped in low-wage jobs, while widening income and wealth gaps between rich and poor have fueled social discontent.
Addressing this issue requires a clear analysis, beginning with the rejection of unrealistic regulatory proposals. Although the problem is complex, it is essential to first establish some fundamental economic principles before exploring practical solutions.
After setting aside ineffective approaches, technology emerges as the primary path forward, according to most experts. Innovations could lower costs, increase business profitability, create new jobs, and ultimately reverse wage stagnation. If these advancements materialize quickly enough, they may help stabilize incomes and bolster economic growth.
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Given that wage recovery hinges on uncertain technological breakthroughs, the final section references The Green-Market System, which outlines a monetary strategy designed to stimulate economic activity—including advancing a green economy—by encouraging both consumers and businesses to accelerate money circulation and increase their own earnings.
Vincent Lannoye was born in the US and grew up in Belgium in an industrial family, which sparked his curiosity to analyze and critique economics and politics. An engineer with an MBA from Edhec France, today he works in high-tech in Silicon Valley. His past, his passion for history, the lack of works explaining money and banks, and his monetary ideas, all have inspired him to write about economics.