It is amazing that the Wall Street Journal and Dow Jones allows the Opinions on Marketwatch to swing so far to the left. Or perhaps it is a sop to compensate for the rigid conservatism of the WSJ editorial page. Whatever, the case, Al Lewis today is right on Denmark with his note about the McBudget. Basically, the McBudget is an advisory issued to all MacDonald stores rank and file workers on how to survive on their near poverty level wages.
The McBudget is really about a barely-living wage. This is the fundamental problem facing not just the US but the World -driving wages down to a pittance also drives the economy down to an unworkable state. Now the Red Badge of Courage in Business is that you are not just willing to raid the Wage Commons with unrelenting fury but you are also willing to reward yourself extravagantly for doing so. This is blind subservience to a mythological perfect market of supply and demand.We need to get this fixed sooner rather than later.