Re:Is the world economy entering a wage-price spiral?
by piva00 on Wednesday October 20, 2021 @06:35AM
(#28929065)
Global extreme poverty falling isn't due to neoliberalism, or at least show me a source saying so.
I left another comment on the thread with this study [1] which I recommend to anyone wanting to dispute that neoliberalism has failed.
About the US from this study:
> Third, where we have seen a reduction in poverty, it has come from government action, not
from education. The earned income tax credit (EITC) and minimum wage, for example,
are the systematic levers that raised wages for lower-wage workers—not skills. In 1967, the
poverty rate was 27 percent without tax credits and benefits. That number is 29 percent
now, but it is 16 percent when tax credits and benefits are applied. The EITC has pulled
many people out of poverty.
I left another comment on the thread with this study [1] which I recommend to anyone wanting to dispute that neoliberalism has failed.
About the US from this study:
> Third, where we have seen a reduction in poverty, it has come from government action, not from education. The earned income tax credit (EITC) and minimum wage, for example, are the systematic levers that raised wages for lower-wage workers—not skills. In 1967, the poverty rate was 27 percent without tax credits and benefits. That number is 29 percent now, but it is 16 percent when tax credits and benefits are applied. The EITC has pulled many people out of poverty.
[1] https://rooseveltinstitute.org/wp-content/uploads/2020/07/RI...