Trying to get a grip and properly handle an economy’s ups and downs can be difficult. However trying to face the challenge without a sufficient paying job is even harder. Today while reading the financial times, I came across an informative piece concerning the struggle of Ireland’s people attempting to save their homes from being repossessed by subprime lenders. Ireland’s troubles are falling directly in line with Europe‘s economic turmoil, and the Irish common folk are finding it extremely difficult to make ends meet with their current jobs. The article pointed out an average couple. The husband brought in money through disability and the wife by working at a supermarket. Their combined incomes is barely enough to make their monthly installments of $1,373, while being $20,000 in arears.
In class we discussed Walmart and talked about how their wages were lower, on average, than its competitors. This got me thinking; Should companies, in general, have to raise their employee wages to a figure that would allow their workers to meet all of their needs sufficiently? If not, why? If a worker isn’t able to afford transportation or a roof over their head, then how can companies expect to have any workers to operate the company to produce profits? So to me, it seems like companies would be better off raising their workers’ wages, rather than deal with not being able to generate profits.
- Walmart Employees Take Case Of Company’s ‘Vicious Circle’ To Wall Street (huffingtonpost.com)
- OccupyWallStreet: More popular than you think. Top 20% own 85% of wealth. Fair wages needed, not fraud wages. (worldnewsrecord.wordpress.com)
- Clean Up on Aisle 14 (mg312.wordpress.com)
- The Limiting Factor of Creative Disruption (insideview.ie)
- An Irish Haircut (ritholtz.com)
- WSJ lauds Ireland (politics.ie)
- Walmart Warehouse Under Investigation By California Labor Officials (huffingtonpost.com)