Quote:
Originally Posted by BlueStreak
So, low wages aren't good for the economy? Who knew?
Dave
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I am sure that a lot of people knew. When the wages get depressed, consumer base with disposable income shrinks. So demand deceases.
A college education increases one's earning power but the cost of education has sky rocketed. I made a rough comparison on the tuition fees for the school I went to in 1969. Tuition fees per quarter was equivalent to 170 hours of work at minimum wage then. Now it's equivalent of 630 hours at today's minimum wage. So working part time and going to school is not an option without financial assistance from family or student loan. As wages keep dropping, how many parents can afford to pay for their children's education?