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Turnbull said the ABCC stopped excessive wages, Morrison said it will support wages growth.
But that's not at all the same thing as saying that excessive wages are the problem.
Both poor wages and excessive wages breed contempt and poor working conditions within a corporation or public entity.
If you believe that the problem is excessive wages, you believe that the economy is fundamentally suffering from a supply-side constraint.
Losses can result from excessive wages paid by the ESM governing council members to themselves, a dearth of energy in efforts to collect debts from countries that have received credit, or other forms of mismanagement.
First, being completely unaware that, as Jamie Galbraith says, a large part of the point of Keynes's work was to debunk the classical view that unemployment necessarily reflects excessive wages.
Similar(49)
Global competition has left little room for excessive wage demands.
At some point, major layoffs by businesses citing excessive wage costs may ensue.
It will simultaneously increase profits, decrease consumer prices, prevent excessive wage rises and support increases in wages.
But some economists expressed concern that the 21percentt increase could set off a wave of excessive wage proposals by increasingly aggressive unions and threaten efforts to control inflation.
That post-war approach, he argues, engendered too much certainty on the part of workers that the government would tolerate excessive wage claims for fear of high unemployment.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com