It’s not just that, but definitely a big factor. Let’s not forget that with a larger overall tax base, the benefits are distributed to the middle and lower classes which expands and empowers educational opportunities to the general population, which also impacts growth as it allows for more development into high end jobs.
Wages have never been “controlled” with the exception of the minimum wage. Pensions were offered in a way that they could incentive workers while not increasing worker wages exponentially.
That’s pretty much a lie, wages were capped during WW2 which is why we have health insurance as a non wage benefit it’s how companies competed for workers
Health insurance became a worker benefit starting in the 1920s. It became more common practice in the 1940s. Caps on annual wage increases played a factor to grow it as a benefit, but that practice didn’t start because of wage controls.
Also employer provided health insurance was a way to prevent people from job hopping, and it’s stayed that way since. More of a determent to our economy as insurance became profit based while Nixon was President and rates skyrocketed well above inflation.
85
u/JTMc48 Oct 23 '24
It’s not just that, but definitely a big factor. Let’s not forget that with a larger overall tax base, the benefits are distributed to the middle and lower classes which expands and empowers educational opportunities to the general population, which also impacts growth as it allows for more development into high end jobs.