kehee umeskiza hiyo logic yote na response yako ni nonsense?
You can regurgitate a lot of words and still be speaking gibberish. Nongwe.
He’s right. But with unsupported theoretical assumptions.
However, in Kenya we’re not even paying ‘market rate’ salaries let alone ‘higher than market rate’. We’re still paying lower than market rate wages. So hell yeah, people still need a raise here.
they are not unsupported theoretical assumptions. Market rate is determined by the existing conditions of the country. Not by checking what americans are getting paid. A home in Kenya costs 1-2 million. In the US, the same home goes for 20-30 million. A rental in kenya goes for 10-30 thousand, the same rental goes for 70-150 thousand a month
If the masses earn high salaries, they will pay more taxes, the bottom Up model. We are fixing the handshake
that makes no sense
In short higher wages = inflation = higher cost of living.
If in doubt compare Kenya’s cost of living to that of our East African neighbours. Kibaki aliharibu.
ni raila alilazimisha mishahara iongezewe. The SRC is also contributing to inflation. They adjust salaries for inflation which causes more inflation so they adjust for inflation leading to an extra dose of inflation.
Whowever came up with that idea of an entire commission that works outside of the scope of finance ministry is an idealistic fool that will cause us endless unsolvable problems
The idea of adjusting salaries for inflation is preposterous since inflation is a direct result of higher wages.
Instead they should cut wages during inflation which causes the economic engine to start firing on all cylinders again
When it comes to labour market economics, you sir, is unschooled.
Let me make it simpler for you, the quantitative economist (in the video) referred mainly to the theory of demand and supply, the Cost-Push inflation theory, the Phillips Curve theory and the cost of living adjustment (COLA) theories. When one supports their claim using these and other economic theories, they have to clearly state out the “Assumptions” because market conditions are different from one economy to another. If one is lazy, they could simply state, at ceteris paribus to mean “all other things being equal” because for a fact, nothing is really ever equal.
So if you Mr. Smart didn’t read my initial statement properly, or the only economics you know is home economics, then you might want to use your skills in home economics to prepare better chicken soup because it cures unnecessary anger and improves attention to details.