The problem in Europe - WELFARE

Skills and work ethic will partially solve that. You also have to consider that if the demand for jobs is higher than the demand for workers, then wages will be basically flat. Companies tend to benefit their shareholders and see worker pay as an expense to be minimized. Your solution, will reduce the skills gap, and boost productivity, but it will also result in people working a lot harder for not that much more.

 

Yeah, it's called "artificial selection" as opposed to "natural selection".

 

There's no such concept. We know there is no market wage. The only debate is how those inefficient differentials change across countries. We'd expect higher underpayment in the US due to the impact of market concentration and a lack of labour rights.

 

It's called whoe politicians buying votes with other peoples money

 

Responsible people are still afraid of losing their job

Because they dont want to mooch off their neighbors

But welfare bums are very content to be welfare bums as long as they are allowed to

End welare for able-bodied citizens which will force them to take jobs they otherwise do not want

 

What problems of income inequality?

 

If most of the economic growth went to the rich, then that is an economic imbalance that needs to be figured out.

 

What is an economic imbalance?

 

When 60% of economic growth goes to the top 1%, and wage growth is only .8% even after years of record low unemployment, then that will result in a variety of problems. First off, the vast majority of the population will be significantly poorer. This will result in higher crime, drug use, less social mobility, less consumer revenue for companies, lower ability to go to school and learn new skills, less retirement investment, worse health, and more debt. Economists find that there is a right balance between rich and poor between the perfect equality of communism, and one person owning everything. Many economists believe that line is about the GINI index of 27. We are currently at 41.5.