The risk of another 1937

This blog regularly talks about profits, and seeks to explain why understanding profits is so important to truly understand what is happening in economies, both national and global.

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Last week’s Annual Wage Review (AWR) lifted the National Minimum Wage (NMW) by $40 per week, which is 5.2%. The minimum wages in our industrial awards went up by $40 in the lower pay levels and then b

For labour movement activists this article by Greg Jericho in today's Guardian online is a very useful description of some of what is going on in the interplay between wages, profits, interest rates a