Here is a thought, if our labour cost were competitive to China or SE Asia do you reckon house prices would be where they are today?
Should we cut the cost of labour? maybe..
I'd be happy to be paid the pay level of 1985..as long as house prices and cost of living was the same as 1985..my wife wouldn't have to go to work, my kids would have free education. I'd be happier and I reckon you'd probably be happy charging ten times less for what your SME is supplying.
How about you cut your current price now to be competitive to China or SEA SME's supplying the exact same thing? Will your business survive? If you can't survive, maybe a worker (who mind you also runs an SME) who has to pay a mortgage and feed their family wont be able to survive either if he gets a pay cut so that he is more in line with other manufacturing nations?
Pay should be relative to cost of living and prices. Sure there are some people being paid way too much you probably know who they are just as well i do..if you (SL) can stop inflation you will less likely need to complain about crazy labour cost increases. At the end of the day even a cleaner needs to have a place to live and feed his/her family.
You advocating for pay cuts is like advocating for a property market collapse. Bring it on...
