2 is better than 1 - and much easier to notice if it gets adjusted.
However, is corporate profits and the like included in the average wage calculation? I assume not, and what about salaries?
It should be based on a percentage of a country's total income.
But anyway, what's its purpose? Here's a few reasons for it...
1) To simplify government benefits. ie. Unemployment, pensions and so on could be done away with. 2) To make retraining easier for people to do, thus upskilling the workforce. 3) To make starting new businesses easier to do, and so maybe diversifying the economy. 4) To stop the exploitation of those in lousy jobs which they can't afford to leave. 5) To provide an income to those doing useful stuff that doesn't itself generate an income. 6) To put more spending money in people's pockets. (Production isn't the problem in modern economies - it's the markets.) 7) To help address the seemingly endless rising inequality. 8) To increase the total amount of bad art being made in the world.
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However, is corporate profits and the like included in the average wage calculation? I assume not, and what about salaries?
It should be based on a percentage of a country's total income.
But anyway, what's its purpose? Here's a few reasons for it...
1) To simplify government benefits. ie. Unemployment, pensions and so on could be done away with.
2) To make retraining easier for people to do, thus upskilling the workforce.
3) To make starting new businesses easier to do, and so maybe diversifying the economy.
4) To stop the exploitation of those in lousy jobs which they can't afford to leave.
5) To provide an income to those doing useful stuff that doesn't itself generate an income.
6) To put more spending money in people's pockets. (Production isn't the problem in modern economies - it's the markets.)
7) To help address the seemingly endless rising inequality.
8) To increase the total amount of bad art being made in the world.