But in the economy as a whole, your spending is my income and vice versa; my wage matters only in comparison to your wage; and so on.
PAGE C1 JUDGE RULES AGAINST WAL-MART A state judge in Minnesota ruled that Wal-Mart Stores violated state laws on wage matters more than two million times.
A state judge in Minnesota has ruled that Wal-Mart Stores violated state laws on rest breaks and other wage matters more than two million times and as a result could face more than $2 billion in fines.
In July, a state judge in Dakota County, Minn., ruled that Wal-Mart had violated state laws on rest breaks and other wage matters more than two million times and could as a result face more than $2 billion in fines.
In response to a question in a Reddit Ask Me Anything forum on Tuesday, Steven Levitt, one of the co-authors of bestseller "Freakonomics," wrote: "Honestly, I don't think the minimum wage matters all that much to the economy". In his State of the Union address last week, President Barack Obama proposed raising the minimum wage to $9 an hour, up from $7.25.
Real wages matter because that impacts living standards and what workers can buy.
While wages matter most to income inequality, over the coming decades, trends suggest that capital income will play a bigger role in driving inequality.
While wages matter for paying the rent and buying groceries, our long-term economic security is defined not by what we make each week, but by the value of the things we own.
Recognize that Wages Matter -- Advocates, foundations, think tanks and elected officials of varying ideological stripes have for years been promoting homeownership and asset-building as the "new" way to build wealth among "minorities", arguing that policy makers have been too fixated on wage and income disparities.
But Mr. Martirossian said wages mattered less than a climate of caring about employees' needs.
