Belgiums positve wage in 2023was because of its index system. It is basically a basket of necessities they value, and the workers wages should still be the same.
Europe went bankrupt after ww2 by paying for the war they just got out of. Since they had to use all their gold to pay for the war, they ran out of their gold backed currency. They were forced to drop the gold standard and peg their currency to usd. The USA was pretty much the only country that was still on the gold standard and still had their currency worth something. So by pegging it to the usd, Europe’s currency was still on the gold standard, though indirectly. This changed in 1971 when America drop the gold standard. America realized that it couldn’t afford to be on the gold standard and have welfare at the same time, so America chose welfare. That’s when the gap between pay and productivity started.
Socialism is not the answer Feudalism is not the answer Capitalism is not the answer Then what is the answer ?? I think politicians are too stuck up in their status quo !!
This is the byproduct of the loss of competion to china and loss of colonial africa with russias help. Europe needs to eat its rich to survive now like russia in 1915
As an immigrant living in Germany, I agree with this. Europe needs to go back and rethink its leftist policies, companies struggle to be competitive and innovate which leads to layoffs. And further into decline and irrelevance.
This is not just Europe. The US isn't much better off. We may be slightly better off than Europe but our cost of living has also gone way up and wages continue to fall behind, decade after decade.
Who'd have thunk that decades of tax and public services cutting would lead to workers being poorer? Literally unpredictable omg.
Well said, bud. Thanks for watching 👍
Belgiums positve wage in 2023was because of its index system. It is basically a basket of necessities they value, and the workers wages should still be the same.
Yep, agreed 👍
Europe went bankrupt after ww2 by paying for the war they just got out of. Since they had to use all their gold to pay for the war, they ran out of their gold backed currency. They were forced to drop the gold standard and peg their currency to usd. The USA was pretty much the only country that was still on the gold standard and still had their currency worth something. So by pegging it to the usd, Europe’s currency was still on the gold standard, though indirectly. This changed in 1971 when America drop the gold standard. America realized that it couldn’t afford to be on the gold standard and have welfare at the same time, so America chose welfare. That’s when the gap between pay and productivity started.
Agreed 👍 I might also add bad monetary and fiscal policies since then has also caused Europe to be here.
Socialism is not the answer
Feudalism is not the answer
Capitalism is not the answer
Then what is the answer ?? I think politicians are too stuck up in their status quo !!
This is the byproduct of the loss of competion to china and loss of colonial africa with russias help. Europe needs to eat its rich to survive now like russia in 1915
Creating a healthy economy where there is enough employment while demand is high with prices low. That's the answer.
As an immigrant living in Germany, I agree with this. Europe needs to go back and rethink its leftist policies, companies struggle to be competitive and innovate which leads to layoffs. And further into decline and irrelevance.
Agreed, it's been rough on workers. Thanks for watching 👍
This is not just Europe. The US isn't much better off. We may be slightly better off than Europe but our cost of living has also gone way up and wages continue to fall behind, decade after decade.
Agreed its global, but Europe is the worst hit. It never recovered the 2008 crash and post pandemic, the inflation has been the highest in Europe.
Europoors, literally 😀
Thanks for watching 👍