Re:If pay had kept pace with productivity gains, minimum wag...
by BingoAhoy on Friday October 09, 2020 @07:41PM
(#24735513)
Wealth availability and spreading is a multidimensional problem. More wealth can be made available to the average person (median) in a variety of manners. Having more wealth producing centers like intact factories not destroyed by world war 2 bombing is one way to give a locality more average wealth and higher minimum wages. This increases the mean and total wealth.
Another manner of increasing the median wealth is through managing income distribution and inequality. Socialist policies, labor unions, etc etc, will raise the median amount of wealth even if the mean stays the same.
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