J
JimG
Guest
How is a “just wage” to be measured?
How is “full employment” to be measured?
The government has about four different measures for unemployment. It’s hard to measure, considering that unless one applies for unemployment assistance, there’s no way to be counted.
And if one drops of the unemployment pay rolls, either by becoming employed or by maxing out benefits, one also drops off of the unemployment statistics.
Is a just wage one which is sufficient for subsistence?
My first job at a newspaper mailroom paid 75 cents per hour. Not enough for subsistence but what did I care? I was just a high school kid. Later the minimum wage was raised to $1, so we got that. Still not a great difference in total income for part time work.
Rerum Novarum considered a just wage one which was sufficient to support a family. That is, it did NOT envision a spouse having to go to work. On another of my early jobs, married men were paid more than single men precisely for that reason. They had a family to support.
That would be illegal now, although it would be in accord with Rerum Novarum’s social policies and probably a good idea.
One also has to consider that any minimum wage has the effect of increasing unemployment. It just does; there’s no way around it.
One also has to consider that the Federal Reserve has a stated policy of making your earnings worth at least 2% less each year. That’s their policy. The Fed is more afraid of deflation than inflation. So they make your money continually worth less. Does Catholic Social Policy address that injustice to savers?
How is “full employment” to be measured?
The government has about four different measures for unemployment. It’s hard to measure, considering that unless one applies for unemployment assistance, there’s no way to be counted.
And if one drops of the unemployment pay rolls, either by becoming employed or by maxing out benefits, one also drops off of the unemployment statistics.
Is a just wage one which is sufficient for subsistence?
My first job at a newspaper mailroom paid 75 cents per hour. Not enough for subsistence but what did I care? I was just a high school kid. Later the minimum wage was raised to $1, so we got that. Still not a great difference in total income for part time work.
Rerum Novarum considered a just wage one which was sufficient to support a family. That is, it did NOT envision a spouse having to go to work. On another of my early jobs, married men were paid more than single men precisely for that reason. They had a family to support.
That would be illegal now, although it would be in accord with Rerum Novarum’s social policies and probably a good idea.
One also has to consider that any minimum wage has the effect of increasing unemployment. It just does; there’s no way around it.
One also has to consider that the Federal Reserve has a stated policy of making your earnings worth at least 2% less each year. That’s their policy. The Fed is more afraid of deflation than inflation. So they make your money continually worth less. Does Catholic Social Policy address that injustice to savers?