the primary goal of innovation in business is to maximize productivity, if small firms were consistently like that they would hire less people, not more.. They literally said why hiring has slowed in the clip, people are not comfortable taking risks by quitting work and looking for new jobs, as a result companies have slowed hiring.. this coupled with slower investment.. its not complicated.
@chrisbacon84 small firms turned into medium sized businesses by hiring and innovating, historically. As the state has allowed corporates to flourish at the expense of small business, wages has stagnated.
@@Peter-q8v6v that's not how economies work.. wages are stagnant because the UK has limited capital investment in productivity. smaller companies don't just magically pay higher wages, in fact larger salaries come from bigger companies as they have that flexibility.. trust me, you don't understand the topic.. if salaries went up the first places to be hit will be small and mid businesses as they historically cant afford higher wages.. That's why smaller companies don't like min wages hikes..
@chrisbacon84 I never stated smaller firms pay higher wages, I thought my point was a little more obvious but clearly you need a bit more explanation. The reason why China, for example, has dumped cheap steel in the European market, at a loss, is not due to economic innovation but due to sabotaging the European steel market to then force firms out of business and to then hike the prices. When I walk down my local highstreet I see no local businesses but too many Starbucks, Costa coffees, primarks, phone shops etc. Small niche businesses have been priced out of the marketplace because of large foreign corporates using cheap money.
@@Peter-q8v6v "I never stated smaller firms pay higher wages," - you literally said that part of the reason wages are stagnant is because of larger companies sapping innovation from smaller firms comparing local high streets being destroyed to Chinas impact on the steel market is nonsense, very different cause and effect.. People didn't start using services like Amazon over a local shop because Amazon flooded the market, they started using it because Amazon produced a better service that was way more convenient at the market price, ie (like Ive been saying) larger firms have the capital to innovate and improve productivity.. With China, its not that China found a way to make steel far better for cheaper so people wanted to buy it.. its they flooded the market through huge subsidies.. These are not the same thing.. Much like people who used to attend to horses before they were replaced by cars, they were displaced by a better tech.. that's what happened to local high streets
**Reframing the Argument:** It's ironic that while central banks have injected massive amounts of money into economies over the past two decades, many companies haven't used those funds to invest in their workforce or improve their businesses. Instead, they've prioritized executive bonuses and engaged in practices like asset stripping, which can weaken a company's long-term health. Even during the pandemic, when the need for societal responsibility was heightened, some companies focused on maximizing profits through online sales models that relied on low wages and automation, displacing human workers. It seems these companies have little concern for their employees or the communities they operate in. They're content to lay off workers, forcing them to rely on government benefits, all while these same companies have benefited from low interest rates, tax loopholes, and public infrastructure. This behavior not only highlights a disregard for the well-being of the workforce but also reveals a system where companies can exploit economic policies for their own gain, contributing to societal instability and anxieties.
Quite right. The downward spiral began with the misuse of our inheritance, North Sea oil revenue and the selling of the family silver; privatizations. Everything raised has gone 'hand to mouth'. Now it is beggar my neighbour and blame others. The older Brexit politicians seem to think well qualified younger people with degrees will stay here for the punitive taxes, poor prospects and weather. I think not.
Think about simplifying your life! The industrial world is in a decline that is likely to continue for the next 200 years as oil resources are used up. Life can still be good without as much material stuff tho
It was always lile this. 100y ago, 200y ago, 1000y ago. And befor civilisation there where wolves, bears, rain, snow, tribal wars. The world is not a ponyland and we are NOT ponys.
The corporate company I work for (headquartered in the UK) replaces workers (both newly created jobs and leavers fillings) in the UK & US by workers in Bulgaria & Brazil, even for jobs that were historically kept in the Western World. So, technically this company has job openings but they’re not for the UK labour market. Bulgaria has became their 2nd largest office after the UK. Tells you a lot… This trend at the company has accelerated after it got bought by private equity.
Especially since 2008 and COVID, there’s been a significant transfer of wealth from the working class, middle class and governments towards the wealthy.
@chrysalis4126 But that will depend on whether customers are willing to pay the higher amount; which for businesses selling non essential goods puts them at risk and hence the adverse impact on hiring
Yep holding on for dear life. This man is spot on. Plus Ai is going to take all the jobs and its very depressing. Government will need to stop Ai to change this.
It will get better when you brits stop beeing political correct weaklings and step up for God and Country. And i am also talking to yothe "rightwing woke pro Putin weaklings"
Where do they get these people? Clearly not reviewed public sector recruitment drive and pay increases. There are no opportunities forthcoming in the private sector, only more public sector, non-productive jobs as a drive towards wealth redistribution. More taxes and higher costs to fund the public sector. There is only one direction the UK is heading, and that is towards stagflation. The economy is dead. There is no way in hell a rally around public sector departments is going to come up with anything to drive economic growth in the UK. That is one for the birds.
🗄️ country would save in cannabis charges and wasted police/present spaces so real criminals like assault/murder/rape charges could be dealt with rather than prison space/police officers being taken up by some guy for his plants because in which world does it make sense to have real criminals running the streets why people are in prison for a plant the country would benefit hugely all medical patients could grow their own no one priced out of medication from private clinics and think of all the wasted tax money when police officers are called out and have to deal with people who are medical patients because of a smell I imagine it can be difficult to tell the difference between an legal and illegal smell lol
Anyone out of work who was on 100+k a year deserves no sympathy.. Hard working people out there on less than 40-50k a year. Nurses care works etc get my sympathy vote.
They definitely weren't hard working as a young child when it is perhaps the hardest time to work hard. Any adult can work 12 hours a day in a minimum wage job. It doesn't mean they are a hard working person.
This is the consequence of relying on corporates at the expense of small firms, who have historically been the drivers of innovation and hiring.
the primary goal of innovation in business is to maximize productivity, if small firms were consistently like that they would hire less people, not more..
They literally said why hiring has slowed in the clip, people are not comfortable taking risks by quitting work and looking for new jobs, as a result companies have slowed hiring.. this coupled with slower investment..
its not complicated.
@chrisbacon84 small firms turned into medium sized businesses by hiring and innovating, historically.
As the state has allowed corporates to flourish at the expense of small business, wages has stagnated.
@@Peter-q8v6v that's not how economies work..
wages are stagnant because the UK has limited capital investment in productivity.
smaller companies don't just magically pay higher wages, in fact larger salaries come from bigger companies as they have that flexibility..
trust me, you don't understand the topic..
if salaries went up the first places to be hit will be small and mid businesses as they historically cant afford higher wages..
That's why smaller companies don't like min wages hikes..
@chrisbacon84 I never stated smaller firms pay higher wages, I thought my point was a little more obvious but clearly you need a bit more explanation.
The reason why China, for example, has dumped cheap steel in the European market, at a loss, is not due to economic innovation but due to sabotaging the European steel market to then force firms out of business and to then hike the prices.
When I walk down my local highstreet I see no local businesses but too many Starbucks, Costa coffees, primarks, phone shops etc.
Small niche businesses have been priced out of the marketplace because of large foreign corporates using cheap money.
@@Peter-q8v6v "I never stated smaller firms pay higher wages," - you literally said that part of the reason wages are stagnant is because of larger companies sapping innovation from smaller firms
comparing local high streets being destroyed to Chinas impact on the steel market is nonsense, very different cause and effect..
People didn't start using services like Amazon over a local shop because Amazon flooded the market, they started using it because Amazon produced a better service that was way more convenient at the market price, ie (like Ive been saying) larger firms have the capital to innovate and improve productivity..
With China, its not that China found a way to make steel far better for cheaper so people wanted to buy it.. its they flooded the market through huge subsidies..
These are not the same thing..
Much like people who used to attend to horses before they were replaced by cars, they were displaced by a better tech.. that's what happened to local high streets
**Reframing the Argument:**
It's ironic that while central banks have injected massive amounts of money into economies over the past two decades, many companies haven't used those funds to invest in their workforce or improve their businesses. Instead, they've prioritized executive bonuses and engaged in practices like asset stripping, which can weaken a company's long-term health.
Even during the pandemic, when the need for societal responsibility was heightened, some companies focused on maximizing profits through online sales models that relied on low wages and automation, displacing human workers. It seems these companies have little concern for their employees or the communities they operate in. They're content to lay off workers, forcing them to rely on government benefits, all while these same companies have benefited from low interest rates, tax loopholes, and public infrastructure.
This behavior not only highlights a disregard for the well-being of the workforce but also reveals a system where companies can exploit economic policies for their own gain, contributing to societal instability and anxieties.
It’s been like a downward spiral for several years. We need a decent government to get a grip!
Quite right. The downward spiral began with the misuse of our inheritance, North Sea oil revenue and the selling of the family silver; privatizations.
Everything raised has gone 'hand to mouth'. Now it is beggar my neighbour and blame others.
The older Brexit politicians seem to think well qualified younger people with degrees will stay here for the punitive taxes, poor prospects and weather.
I think not.
Housing Crash of 2008, Brexit, COVID and then war on Russia via Ukraine. All of these things led to current cost of living crisis.
The world is depressing. It’s been this way for years. When will there be some positive news.
Think about simplifying your life! The industrial world is in a decline that is likely to continue for the next 200 years as oil resources are used up. Life can still be good without as much material stuff tho
@@alexanderthurber4257 thanks
@@alexanderthurber4257expensive food and shelter you mean?
It was always lile this. 100y ago, 200y ago, 1000y ago. And befor civilisation there where wolves, bears, rain, snow, tribal wars.
The world is not a ponyland and we are NOT ponys.
The corporate company I work for (headquartered in the UK) replaces workers (both newly created jobs and leavers fillings) in the UK & US by workers in Bulgaria & Brazil, even for jobs that were historically kept in the Western World.
So, technically this company has job openings but they’re not for the UK labour market. Bulgaria has became their 2nd largest office after the UK. Tells you a lot…
This trend at the company has accelerated after it got bought by private equity.
UK labour is expensive.
Same skill, same output for less money elsewhere can’t blame the company.
@@hockysaNot remotely close to the same skill.
@@ashleigh3021 I see what you did there
The country has gone to the bloomin dogs. What a disgrace.
but we have diversity
Honestly this is capitalism end game so it's inevitable and the UK are too soft to do anything about it.
@@pondeify It's nothing to with diversity. It's a nation of 68m cannot compete with other economies around the world.
You need patriotism for a good working country.
@@pondeify What has that got to do with anything in the big economics terms? Stay on topic please.
Private equity and the big consultancy firms are killing business.
How are the consultants killing business?
What is the upside? One day in the future the UK will do better! 😭
I can't take this misery for much longer
Every country is like this nowadays. What is happening?
No idea
Especially since 2008 and COVID, there’s been a significant transfer of wealth from the working class, middle class and governments towards the wealthy.
A deliberate effort to make the economy contract, fewer jobs, less consumption, less travel. The goal is UBI.
@
Is this World Economic Forum “Agenda 2030” conspiracy theory nonsense or something more credible?
@@andromeda_25 I love these kind of educated debates...i am here for it
Trump tarrifs will force employers, especially in engineering domains, to hire fast or go bust.
Solidarity with our colleagues in the UK from the US
@@AcctistaZ the only people that will pay for tariffs is the consumer
that's not how tariffs work..
Tariffs are a sales tax.. if taxes go up then costs go up.. that's all
Tarrifs will just mean the employer adds the cost to the item to the customers. Nothing to do with staff hire.
@chrysalis4126 But that will depend on whether customers are willing to pay the higher amount; which for businesses selling non essential goods puts them at risk and hence the adverse impact on hiring
Yep holding on for dear life. This man is spot on. Plus Ai is going to take all the jobs and its very depressing. Government will need to stop Ai to change this.
Which Government should do that?
Recession means lots of jobs in health and social care. Poverty needs personnel.
This is the situation. When is it going to get better?
things will get better on 18th Sept 2027
@@pondeify Yes but why?
It will get better when you brits stop beeing political correct weaklings and step up for God and Country. And i am also talking to yothe "rightwing woke pro Putin weaklings"
when we stop giving Asda/Walmart/Amazon our money.
The country doesn't have any major innovative companies / industry - the day that changes is the day things going to get better
Im worried about my benefits if there's less people working to pay for them.
Good.
Hilarious.
Exactly the problem.
It's been like this since 1950s
Come on late 1990s early 2000s were amazing
Never voting Labour again EVER.....
Are you joking? You think this happened since the General Election?
Yeah nothing to do with 14 years of the tories I'm sure.
Where do they get these people? Clearly not reviewed public sector recruitment drive and pay increases. There are no opportunities forthcoming in the private sector, only more public sector, non-productive jobs as a drive towards wealth redistribution. More taxes and higher costs to fund the public sector. There is only one direction the UK is heading, and that is towards stagflation. The economy is dead. There is no way in hell a rally around public sector departments is going to come up with anything to drive economic growth in the UK. That is one for the birds.
2/3 of europe has the same problem. Cut the official office jobs by 70%.
🗄️ country would save in cannabis charges and wasted police/present spaces so real criminals like assault/murder/rape charges could be dealt with rather than prison space/police officers being taken up by some guy for his plants because in which world does it make sense to have real criminals running the streets why people are in prison for a plant the country would benefit hugely all medical patients could grow their own no one priced out of medication from private clinics and think of all the wasted tax money when police officers are called out and have to deal with people who are medical patients because of a smell I imagine it can be difficult to tell the difference between an legal and illegal smell lol
God Who made thee mighty, Make thee mightier yet 🇬🇧🇬🇧🇬🇧🇬🇧
Uk is not united anymore
It is, we all hate labour more than ever haha
@notallpolitical you think this happened under Labour? I'm no Labour voter but come on!!??
@@notallpolitical Yeah fancy not being able to sort out 14 years of mess in six months eh? Bloody Labour.
Brexit disaster
Brexit mess 😂
Yes that hit Germany and France hard Judging by the economic mess they are also in.
Brexit is by far the UK's biggest own goal and I take every opportunity to criticise it. This is nothing to do with Brexit though.
Brexit mess
Brexit certainly hasn't helped but be real, all comparable European countries struggling
Nothing to do with Brexit. It’s the Labour government causing the issues.
@@summerrr1 the UK has been in a slump since 2008.. blaming labour makes no sense.
😂
Anyone out of work who was on 100+k a year deserves no sympathy.. Hard working people out there on less than 40-50k a year. Nurses care works etc get my sympathy vote.
People earning less than 40k are not hard working.
@@summerrr1 So you’re saying nurses in the NHS aren’t hard working? 😂
They definitely weren't hard working as a young child when it is perhaps the hardest time to work hard. Any adult can work 12 hours a day in a minimum wage job. It doesn't mean they are a hard working person.
@@r3negade47 Some of them may be, though many are not.
@@summerrr1 look at british wages and then revise your opinion